American Colloid Company
Since 2007, the Land Bank has owned the property on which American Colloid Company (ACC) operates and has leased the site to the company. In 2018, the company entered a new long-term lease and purchased an adjacent nine acres from the Land Bank. ACC is a subsidiary of the Metalcasting Division of Minerals Technologies, which is a global business. ACC’s goal was future investment and potential expansion in Albion.
To help facilitate investment, the Albion Economic Development Corporation and the City of Albion worked with the company to establish an Industrial Development District to promote further development at the site. This win-win came from almost ten years of hard work and dedication to not only keep ACC's current investment in Albion, but also secure jobs, and bring revenue to the city. The company has since constructed a new Additrol® blending facility at the site.
State Farm Regional Headquarters
After closing its doors in 2006, the former State Farm Regional Headquarters campus saw many failed attempts at redevelopment, before coming to the Land Bank in 2016. By that time, it was clear the primary building was obsolete, and that demolition would be necessary. Faced with a substantial task and associated price tag, the Land Bank leveraged its EPA grant to assist with demolition preparation and worked tirelessly to secure the capital needed for demolition from multiple partners including the County Treasurer and the Calhoun County Board of Commissioners. Throughout this process, the Land Bank sought input and feedback regularly from the community.
By late fall 2018, the demolition phase was nearly complete and the groundwork for redevelopment began. The Land Bank partnered with the Michigan Municipal League, Abonmarche and Incremental Development Alliance with the goal of a sustainable strategy for the seven-acre site that offers varied housing choices and returns the property to a tax revenue generating status. At the same time, the City of Marshall created a Northeast Neighborhood Improvement Authority (NIA) in preparation for implementing and financing improvements (TIF) and to provide guidance on the development. The Land Bank continues to work the City of Marshall and appropriate agencies to make the site redevelopment ready.