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HomeMy WebLinkAboutResolutions - 2007.07.19 - 28424MISCELLANEOUS RESOLUTION #07 158 July 19, 2007 BY: FINANCE COMMITTEE, MIKE ROGERS, CHAIRPERSON IN RE: BOARD OF COMMISSIONERS — NOTICE TO VILLAGE OF HOLLY REGARDING OAKLAND COUNTY'S DETERMINATION TO EXEMPT ITS AD VALORUM PROPERTY TAXES FROM CAPTURE TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Chairperson, Ladies and Gentlemen: WHEREAS the Oakland County Board of Commissioners supports the economic growth of Oakland County; and WHEREAS among the tools used to promote this economic growth is Tax Increment Financing (TIF) in the form of Downtown Development Authorities (DDAs), Local Development Finance Authorities (LDFAs), and Corridor Improvement Authorities (CIAs); and WHEREAS to review requests from the cities, villages, and townships to establish DDAs, LDFAs, and CIAs, the Board of Commissioners has, pursuant to Miscellaneous Resolution #99010, established the Tax Increment Financing District Review Policy Ad Hoc Committee (Review Committee) to evaluate and recommend to the Finance Committee on the County's participation in these proposed Authorities; and WHEREAS the Review Committee has promulgated protocols and performance standards for County participation in these Authorities, and this Board of Commissioners has adopted these policies as guidelines to assist the County in its review of a municipality's plan; and WHEREAS by letter dated May 15, 2007, the Village of Holly and the Holly DDA advised the Review Committee that the DDA sought to incorporate the train depot located on S. Broad Street into the DDA district, thereby expanding the boundary of the DDA; and WHEREAS the Village of Holly and the DDA appeared before the Review Committee on June 14, 2007, to present the planned incorporation of the train depot into the DDA district; and WHEREAS the public hearing for the proposed expansion is scheduled to be held on June 26, 2007; and WHEREAS due to the timing of the public hearing, the County Board of Commissioners meeting schedule, and the 60-day statutory timeframe within which a taxing jurisdiction, in this case the County, must act, this Board has determined to exempt any County ad valorum property taxes from capture; and WHEREAS if it is established that the property proposed for inclusion in the above- referenced DDA expansion is exempt from taxation, this Board understands that the expansion may have no impact on potential tax revenues and no financial impact regarding loss of tax revenues to Oakland County. NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners hereby exempts County ad valorum property taxes from capture by the proposed expanded DDA. BE IT FURTHER RESOLVED that if the affected parcels included in the proposed expansion are determined to be tax exempt and that tax exempt status changes in the future, the Village and the DDA must appear before the Review Committee (or its successor) to allow the County the opportunity to "opt out" of any tax capture as provided by law. BE IT FURTHER RESOLVED that the County Clerk shall forward a copy of this resolution to the Clerk for the Village of Holly. Chairperson, on behalf of the Finance Committee, I move the adoption of the foregoing resolution. FINANCE COMMITTEE 21j2,21' FINANCE COMMITTEE Motion carried unanimously on a roll call vote with Potter, Middleton and Coulter absent. • RuttrArriSbn, County Clerk Resolution #07158 July 19, 2007 Moved by Potts supported by Zack the resolutions (with fiscal notes attached) on the amended Consent Agenda, be adopted (with accompanying reports being accepted). AYES: Burns, Crawford, Douglas, Gershenson, Gingell, Gosselin, Gregory, Greimel, Hatchett, Jacobsen, KowaII, Long, Middleton, Nash, Potter, Potts, Rogers, Scott, Spector, Suarez, Zack, Bullard. (22) NAYS: None. (0) A sufficient majority having voted in favor, the resolutions (with fiscal notes attached) on the amended Consent Agenda, were adopted (with accompanying reports being accepted). .10••• I REIDY APPROVE THE FOREGOING RESOLUTION 7/2-0/6, STATE OF MICHIGAN) COUNTY OF OAKLAND) I, Ruth Johnson, Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true and accurate copy of a resolution adopted by the Oakland County Board of Commissioners on July 19, 2007, with the original record thereof now remaining in my office. In Testimony Whereof, I have hereunto set my hand and affixed the seal of the County of Oakland at Pontiac, Michigan this 19th day of July, 2007.