HomeMy WebLinkAboutResolutions - 1986.10.09 - 18152
Miscellaneous Resolution 86284 October 9, 1986
By: General Government Committee-John E. Olsen, Chairperson
RE: House Bills 5728 & 5729 Correcting the Tax Increment Financing
Situation by Addressing Concerns in the TIFA Act of 1980 (SUPPORT)
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Mr. Chairperson, Ladies and
Gentlemen:
WHEREAS, Act 450 of the Public Acts of 1980 is known as the Tax
Increment Finance Authority (TIFA) Act and had been widely used in economic
development projects until late last year when some constitutional questions
surfaced bringing bonding activity to a virtual standstill; and
WHEREAS, House Bills 5728 and 5729 have been introduced and
presented as providing a viable framework in the future by addressing the
following concerns in the TIFA Act by (1) Putting a limit on diversion of
tax revenue; (2) Including school districts in revenue spending decisions;
(3) Limiting the area whose property can be captured; (4) Allowing creation
of a TIFA outside the boundaries of a city; and (5) Prohibiting under Act
450 creation of new authorities, authority districts or development areas
beginning January 1, 1987; and
WHEREAS, enactment of these bills, which have passed the House and await
Senate action, will be beneficial to many pending economic development
projects throughout the County and the state; and
WHEREAS, County Executive Daniel T. Murphy and County Treasurer C. Hugh
Dohany support House Bills 5728 and 5729.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners takes a position supporting this legislation.
BE IT FURTHER RESOLVED that copies of this resolution be sent to the State
Senators from Oakland County and to the county's legislative agent.
Mr. Chairperson, on behalf of the General Government Committee, I move the
adoption of the foregoing resolution.
#86284 October 9, 1986
Moved by Olsen supported by Rowland the resolution be adopted.
AYES: Page, Perinoff, Pernick, Price, Rewold, Rowland, Skarritt, Webb,
Wilcox, Aaron, Caddell, Calandro, Doyon, Fortino, Gosling, Hassberger, Hobart,
Richard Kuhn, Susan Kuhn, Lanni, Law, McConnell, McPherson, Moffitt, Nelson, Olsen.
(26) NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.