HomeMy WebLinkAboutResolutions - 2021.12.09 - 35089frOAKLANDF?`
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BOARD OF COMMISSIONERS
December 9, 2021
MISCELLANEOUS RESOLUTION #21-477
Sponsored Bv: Gwen Markham
IN RE: Economic Development - Resolution Revised Policy for Review and Participation in Downtown
Development Authorities, Corridor Improvement Authorities, and Local Development Financing
Authorities and Limitation on Tax Capture by all TIF Authorities
Chairperson and Members of the Board:
WHEREAS tax increment financing (TIF) is a mechanism that allows for the capture of the incremental growth
of local property taxes over a period of time to fund public infrastructure improvements; and
WHEREAS Michigan law authorizes local governments to form tax increment financing authorities (TIFA)s to
support economic development initiatives and projects. These authorities include Downtown Development
Authorities (DDA)s, Local Development Financing Authorities (LDFA)s and Corridor Improvement
Authorities (CIA)s; and
WHEREAS TIFAs may capture a portion of the taxes that would normally be collected by other jurisdictions
that levy taxes in the District in support of economic development and public infrastiuctLire projects: and
WHEREAS jurisdictions subject to a proposed tax capture by a TIFA have a right to determine their level of
participation in a project; and
WHEREAS a Tax Increment Financing Ad Hoc Review Committee (TIF Review Committee) was established
by the Board of Commissioners to review the creation of Authorities utilizing TIF, the expansion of TIF
Districts or the use of TIF by Authorities that were previously established: and
WHEREAS the Policy for Review and Participation in Downtown Development Authorities, Corridor
Improvement Authorities, and Local Development Financing Authorities and Limitation on Tax Capture by all
TIF Authorities was established to guide the process of evaluating proposals; and
WHEREAS Corporation Counsel has reviewed the policy and is recommending revisions to address changes in
state statute and county operations.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners hereby approves
the attached Revised Policy for Review and Participation In Downtown Development Authorities. Corridor
Improvement Authorities, and Local Development Financing Authorities and Limitation on Tax Capture by all
TIF Authorities.
Chairperson, the following Commissioners are sponsoring the foregoing Resolution: Gwen Markham.
62rdDate: December 09. 2021
David Woodward, Commissioner
Date: December 15, 2021
Date: December 15, 2021
Lisa Brown, County Clerk / Register of Deeds
COMMITTEE TRACKING
2021-12-01 Tax Increment Financing District Review Policy Ad Hoc Review Committee - recommend and
forward to Finance
2021-12-01 Finance - recommend to Board
2021-12-09 Full Board
VOTE TRACKING
Motioned by Commissioner William Miller III seconded by Commissioner Robert Hoffman to adopt the
attached Resolution: Revised Policy for Review and Participation in Downtown Development Authorities,
Corridor Improvement Authorities, and Local Development Financing Authorities and Limitation on Tax
Capture by all TIF Authorities.
Yes: David Woodward, Michael Gingeil, Michael Spisz, Karen Joliat, Kristen Nelson, Eileen Kowall,
Christine Long, Philip Weipert, Gwen Markham, Angela Powell, Thomas Kuhn, Chuck Moss, Marcia
Gershenson, William Miller III, Yolanda South Charles, Charles Cavell, Penny Luebst Janet Jackson, Gary
McGillivray, Robert Hoffman, Adam Kochenderfer (21)
No: None (0)
Abstain: None (0)
Absent: (0)
The Motion Passed.
ATTACHMENTS
1. TIF Review Policy Revision
2. Summary of Proposed Modifications to the TIF Ad Hoc Committee Review Procedure
3. TIF Policy, Revised - Strikeout Version
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
L Lisa Brown, 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 December 9, 2021,
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 Circuit Court at Pontiac,
Michigan on Thursday, December 9, 2021.
Lisa Brown, Oakland CotjntjP Clerk /Register- of Deeds
POLICY FOR REVIEW AND PARTICIPATION IN DOWNTOWN
DEVELOPMENT AUTHORITIES, CORRIDOR IMPROVEMENT
AUTHORITIES, AND LOCAL DEVELOPMENT FINANCING
AUTHORITIES AND LIMITATION ON TAX CAPTURE BY
ALL TIF AUTHORITIES
PURPOSE
The Purpose of this Policy is to consolidate and update the numerous Resolutions that have established
procedures for Oakland County (the "County") to evaluate whether or not to exempt its property taxes from capture
by Downtown Development Authorities (DDAs), Corridor Improvement Authorities (CIAs) or Local Development
Financing Authorities (LDFAs) utilizing Tax Increment Financing (TIF) Plans for improving economic conditions in
Oakland County. This Policy replaces and supersedes all prior Resolutions concerning the review of plans to
capture County taxes by one of three types of Authorities. The standards set forth in this Policy are intended to be
used as a guide and should not be interpreted as a guarantee that the County will or will not opt out of a tax
capture. It is acknowledged and understood by both the Applicant and the County that each plan presents unique
considerations, not specifically set out within, which must be addressed during the review process and
acknowledged in any final approvals. Other factors such as economic conditions and budget priorities not
enumerated herein, may impact the County's decision. The County may determine to "opt out" or may negotiate
a contractual arrangement with an Authority and a municipality to govern the time, projects and amount of County
tax revenue that may be captured. Nothing in this Policy is to be construed as creating an obligation on the part
of the County to enter into any negotiations or contractual arrangements with any entities allowing revenue
capture, nor is it to be construed as creating any entitlement to such a contractual arrangement on behalf of any
Authority, municipality or TIF District. This Policy provides an annual percentage limit on the County's participation
in TIF captures by TIF Authorities.
BACKGROUND
Prior to January 1, 2019, there were several different state statutes in effect to encourage local development and
improve economic conditions. The DDA, LDFA and CIA laws permitted municipalities to form an Authority, which
is a legal entity able to utilize TIF to improve a defined area or District. Before an Authority can implement a TIF
Plan to capture or increase the amount of County taxes received by the Authority, they must hold a public hearing.
The County has the right to exempt its taxes from capture by an Authority if it adopts a Resolution within 60 days
after the public hearing is held. If the County does not opt out of the tax capture or does not have a contract
governing the terms of the capture within 60 days after the public hearing, its incremental tax revenues will
automatically be captured by the Authority. Prior to 1994, state law did not give the County the ability to opt out of
DDAs. Consequently, several DDAs formed before 1994 continue to capture County tax revenue without the
County's ability to set a date for the capture to terminate. On January 1, 2019, PA 57 of 2018, known as the
"Recodified Tax Increment Financing Act" (the "Act") became law. This Act repealed nine existing statutes that
authorized municipalities to establish tax increment entities such as DDA's, CIA's, LDFAs, water resource
improvement authorities and other lesser known and utilized types of authorities and places all governing authority
under the Act. The Act does not repeal or make changes to the State's Brownfield Redevelopment Financing Act
(BRFA). The Board of Commissioners formed a TIF Ad Hoc Review Committee in 1999 to ensure the County
decided during the 60-day time frame whether to opt out of having its taxes captured by an Authority, The laws
covered by this Policy address different economic development needs and have slightly different legal
requirements. This Policy contains criteria for reviewing proposals to capture the County's tax revenue by DDAs,
CIAs and LDFAs as well as terms to be included in a contract ifthe County, at its discretion, wishes to enter into
an agreement permitting the capture of its taxes by an Authority. Despite being unable to opt out of all TIF
Authorities, such as BRA's, the County will take into consideration the total tax revenue captured by all TIF
Authorities when it considers whether to participate in a DDA, CIA or LDFA TIF Plan. Except where specifically
noted, this Policy does not apply to BRAs and TIFAs.
III. DEFINITIONS
Act means the Recodified Tax Increment Financing Act, PA 57 of 2018, being MCL 125.4101, et.seq.
Applicant means an Authority and a municipality requesting the County's incremental tax revenues for a District.
Authority(ies) means a legal entity created by a municipality under the DDA, CIA or LDFA statute to improve
the economic conditions within a District.
Brownfield Redevelopment Authority (BRA) is a TIF Authority created under Act 381 of 1996, MCL 125.2651
at. seq., to promote the reuse and redevelopment of certain properties.
Corridor Improvement Authority (CIA) is an Authority governed under Act 57 of 2018, MCL 125.4101 et. seq.,
to prevent deterioration, promote economic growth and encourage historic preservation in a business District.
The District must meet the statutory criteria which include being adjacent to or within 500 feet of a road classified
as an arterial or collector by the federal highway administration.
County means Oakland County, a Michigan Constitutional and municipal corporation.
District means the area which an Authority is authorized to collect TIF from participating taxing authorities to
improve economic conditions pursuant to the requirements under the DDA, CIA or LDFA laws.
Downtown Development Authority (DDA) is an Authority governed under Act 57of2018,MCL 125.4101 et.seq.,
to correct and eliminate property value deterioration, promote economic growth and to encourage historic
preservation in a District in the downtown of a municipality that is zoned and used principallyfor business.
Local Development Financing Authority (LDFA) is an Authority governed under Act 57 of 2018, MCL 125.4101
et. seq., to prevent conditions of unemployment and promote economic growth within the boundaries of a District.
The County may not exempt its taxes from capture by a LDFA if the taxes are to be used for a certified technology
park or certified alternative energy park ( see MCL 125.4404). An LDFA differs from a DDA or CIA as use of its
tax capture is limited to structures, buildings, land improvements and other real property and equipment located
within the District whose primary use is either manufacturing, high technology, certain agricultural processing or
energy production.
Tax Increment Financing (TIF) is often referred to as tax capture. The Authority captures the property taxes on
the increase in value (tax increment) from the initial or base year. Thus, if the base value is
$1,000,000 and the second year the value is $1,250,000 the Authority gets to capture the taxes due on the
$250,000 increase in value.
Tax Increment Financing Authority (TIFA) is an authority governed under Act 57 of 2018, MCL
125.4101 et. seq., to encourage economic development and historic preservation.
TIF Authorities means all authorities authorized to utilize TIF. This includes DDAs, CIAs, LDFAs, BRAs, TIFAs
and other similar authorities such as Water Resource Improvement Authorities, Historic Neighborhood Finance
Authorities, etc.
TIF Review Committee means the TIF Ad Hoc Review Committee which reports to the Finance Committee of
the Board of Commissioners and operates in accordance with the Board of Commissioner's Rules and state law.
This Committee only reviews plans and proposals for DDAs, CIAs and LDFAs as provided by law.
IV. TIF REVIEW COMMITTEE
A TIF Review Committee was established by the Board of Commissioners to review the creation of Authorities
utilizing TIF, the expansion of TIF Districts or the use of TIF by Authorities that were previously established.
The TIF Review Committee is comprised of nine members. The non -Board of Commissioners members are one
representative from: the County Treasurer, the Equalization Division, the Economic Development Department,
and Corporation Counsel. Each department must provide a letter to the Board of Commissioners at the beginning
of each two-year term identifying its representative and alternateto the Committee. Thefollowing Commissioners
are also members of the TIF Review Committee: the Finance Committee Chairperson, the Finance Committee
Majority Vice Chairperson, the Finance Committee Minority Vice Chairperson, the Economic Development and
Infrastructure Committee Chairperson or designee and one additional Commissioner appointed by the
Chairperson ofthe Board of Commissioners. The County Commissioner(s) representing the Applicant community
shall be invited to participate in discussions of the TIF Review Committee in a non -voting capacity.
At the start of each two-year term of the Board of Commissioners, the Chairperson of the Board shall send a letter
to each local unit of govern ment in the County requesting that all notices announcing the date of the public hearing
to consider the use of TIF by an Authority, creation or expansion of a District utilizing TIF, be sent to the attention
of the Board Chair as head of the legislative body. The letter shall also request that courtesy notice copies be sent
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and any amendments to this Policy.
The Chairperson of the TIF Review Committee shall send a copy of each notice received by the Board of
Commissioners, announcing the date of a public hearing to consider the use of TIF by an Authority, to the
members of the TIF Review Committee.
V. PROCEDURE FOR BRINGING REQUESTS TOTHE TIF REVIEW COMMITTEE
The County encourages Applicants to meet with the County in advance of initiating or amending TIF Plans.
Applicants considering the use of TIF should contact the County Economic Development Department and the
Equalization Division of the Department of Management and Budget prior to requesting a meeting with the TIF
Review Committee, An Applicant is encouraged to present its plans to the TIF Review Committee prior to the date
of its public hearing to establish an Authority with TIF, expand a District or begin utilizing TIF. The County
Executive's leadership team must have an opportunity to review and make a recommendation on the appropriate
amount, if any, for the County to consider contributing to an Authority with a TIF Plan, prior to a recommendation
by the TIF Review Committee to enter negotiations with an Applicant.
The TIF Review Committee shall scrutinize a new TIF Plan from an Applicant that has a District created prior to
1994 capturing County taxes. An Applicant with a pre-1994 District shall be asked by the TIF Review Committee
to enter negotiations with the County to establish an end date for the capture of County taxes. This includes
authority districts created under the Tax Increment Finance Authority Act, Public Act 450 of 1980, as amended,
MCL 125.1801 et. seq. (now governed by the Act). It shall be at the discretion of the County to determine if it is
in its best interests to reach an agreement to participate in a new TIF Plan. It shall be at the discretion of the
Applicant to determine if it is in its best interest to reach an agreement to end the capture of County taxes by a
pre-existing Authority.
VI. OPT -OUT AND POTENTIAL NEGOTIATIONS
Upon receipt of the notice of public hearing to consider the use of TIF by an Authority or the creation or expansion
of a District utilizing TIF as referenced in the Act and in Sections II and IV above, the Board Chair shall direct
that a resolution shall be initiated in the Finance Committee of the Board recommending that the County opt out
of capture in the manner provided by the Act, and authorizing Corporation Counsel to enter into negotiations to
attempt to establish a contract permitting capture of the County's taxes, based upon the criteria set forth in this
policy. If the proposed contract is acceptable to the TIF Review Committee, the Committee shall recommend its
approval to the Finance Committee of the Board of Commissioners, who may then by resolution recommend
approval of the contract and rescission of any prior opt out to the Board of Commissioners.
VII. LIMITATION OF COUNTY FUNDS FOR CAPTURE
Oakland County shall limit the capture of its incremental property taxes for use by TIF Authorities to an annual
amount not to exceed five percent (5%) of the total County operating levy (i.e., total taxable value for all County
communities multiplied by the County millage rate, multiplied by 5%.) Preference on granting approval to capture
the County's incremental tax revenue shall be given to Applicants that do not have any pre-existing Districts.
When considering Applicants that have pre-existing Districts, preference will be given to Applicants that are
capturing less than five percent (5%) of the amount of County operating levy assessed within their municipality.
(i.e. total taxable value for municipality multiplied by the County millage rate, multiplied by 5%)
For each individual TIF District, the tax increment revenue attributable to the County cannot constitute a greater
proportion of the overall tax capture by the Authority than the proportion of capture that is attributable to the city,
village or township which established the TIF District.
The County will not contribute more than fifty percent (50%) of the total amount of County ad valorem tax revenue
available for capture by an Authority unless the amount contributed by the city, village ortownship in which the TIF
District is located contributes at least three times the amount of incremental tax revenue than what is proposed
for the County to contribute. In those instances, where a city or township is contributing an amount three times
that of the County, the limitation on capture of County revenue may be increased by agreement to an amount not
to exceed 75% of the total amount of County ad valorem tax revenue then available.
The Economic Development Department, working with the Equalization Department and the Treasurer, must
annually provide the County Executive's leadership team and the TIF Review Committee with the amount of the
total capture of County taxes by all TIF Authorities. ED must apprise the County Executive's leadership team of
proposed TIF Plans by a BRA established by the County, prior to the time the plans will be voted on by the BRA
to understand the potential impact on the overall amount of County taxes subject to capture.
As provided by law, Authorities may not include in the capture any local taxes attributable to the zoological
authorities act, the art institute authorities act or other local taxes specifically excluded bylaw.
VIII. REQUIREMENTS FOR ALL TIF PLANS
1. The TIF Plan shall include all property classes (real and personal property) in the total capture, unless
otherwise provided by law.
2. The Applicant must provide financial projections that demonstrate a positive return on investment of County
incremental taxes proposed for capture as well as an improvement of employment and the taxable value
of the District. The projections shall attempt to include details on the projected number and types of new
and retained jobs and a projection of tax base growth for the entire capture period. The TIF Review
Committee may request the County's Equalization Division to conduct a review of the Applicant's
projections.
3. The Applicant must disclose any agreements, proposed agreements, or opt -outs by other taxing entities
and any voted millages that would impact the amount of lawfully captured tax revenue.
4. The Applicant must disclose the dollar amount of capture by all TIF Authorities in its jurisdiction.
5. The Applicant must explain its plan to inform investors and businesses in the District about the services
available from the Oakland County Economic Development Department.
6. The city, village or township which created the Authority must adopt/amend its community master plan to
accurately incorporate the TIF Plan.
7. The Authority utilizes all (100%) of the TIF revenue for redevelopment efforts, i.e., those activities specifically
authorized within the applicable act, including operating expenses of the Authority.
8. The proposed plan must meet the standards provided in this Policy.
IX. GUIDELINES FOR REVIEWING DDA PROPOSALS
The following performance standards are established as guidelines for evaluating (1) a new DDA with TIF requests,
and/or (2) requests for expansion of area boundaries by an existing DDA with TIF.
1. Meets the requirements of the Act, and any other relevant legal requirements.
2. Demonstrates declining property values exist in the District which is caused by factors such as blight,
reduced building occupancy or below market rent values.
3. Supplements TIF revenue with a DDA millage (up to 2 mills), special assessment and/or designated budget
contributions from the municipality it is in, to demonstrate local commitment and funding for the DDA
program.
4. Demonstrates that most land within the District is used by a traditional, commercial business District
(including uses such as commercial, retail, office, public/civic, multi -family and mixed- use with upper floor
housing) and may have buildings of historic importance.
5. Establishes that the amount of land area devoted solely for single family residential use within the District is
limited.
6. Demonstrates that any single family residential development (planned or existing) within the District must
support, contribute to and compliment the business District.
7. The Authority has adopted/amended a management plan based upon the "Main Street 4-Point Approach"
of Organization, Promotion, Design and Economic Restructuring.
X. GUIDELINES FOR REVIEWING CIA PROPOSALS
The following performance standards are established as guidelines for evaluating CIA requests for participation in a
TIF Plan.
1. Meets all applicable criteria in the Act and any other relevant legal requirements.
2. Demonstrates to the TIF Review Committee how it complies with the seven development area criteria
specified in the Act.
3. Facilitates the redevelopment and/or revitalization of an existing developed area as opposed to
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4. Establishes that single family residential use does not comprise more than 10% of the existing
and/or planned land use of the Authority District.
5. Demonstrates that high density residential use does not comprise more than 30% of the existing
and/or planned land use of the Authority District.
6. If feasible, explains how one or more of the "Emerging Sectors" identified by Oakland County on
its website www.advantageoakland.com as an economic growth industry, will benefit from this
request.
XI. GUIDELINES FOR REVIEWING LDFA PROPOSALS
The following performance standards are established as guidelines for evaluating (1) a new LDFAwith TIF
requests, and/or (2)requests for expansion of area boundaries by an existing LDFA with TIF:
1. Meets all applicable criteria in the Act, and any other relevant legal requirements, including the
development plan requirements.
2. Has a business retention plan to support businesses in the District.
XII. CONTRACTS WITH AN AUTHORITY AND MUNICIPALITY
If the Board of Commissioners approves contract negotiations with an Applicant, all contracts between the
County and Applicant must contain the following:
1. A set dollar amount captured and a set number of years after which the contract automatically
terminates, whichever event occurs first.
2. A provision that the contract may not extend beyond 25 years.
3. A requirement for the Authority to provide the following financial information:
a. Copies of any financial information or reports that are required to be submitted to the Michigan
Department of Treasury as set forth under Part 9 of the Act, being MCL 125.4901, at. seq.
b. Within three (3) months after the end of the Authority's fiscal year, copies of any other
financial information or documentation of development within the district as may be deemed
necessary in the discretion of the TIF Ad Hoc Review Committee. This information may
include, but is not limited to, the following items:
I. The amount of taxes captured by the Authority
ii. The amount spent on each project in the TIF Plan.
Ill. The amount of private sector investment received.
iv. The number of buildings rehabilitated, the square footage per building rehabilitated
and the amount spent per building.
v. The amount of new construction including the dollar amount spent and the square
footage added.
vi. The number of new businesses locating in the District.
vii. The number of new jobs created, and
viii. The increase/decrease in the taxable value.
4. A requirement that Applicants must appear before the TIF Review Committee within the first five
(5) years of the Contract execution date, and each five (5) years thereafter, to present the District's
current return on investment and discuss the financial information required in 3a and 3b above.
5. A list of all projects the County agrees to for the use of its captured taxes. The list of projects must
include the construction or improvement to a physical asset such as the construction of a building
or improvements to a roadway. A requirement that if any of the physical assets are not constructed
or improved by the date indicated in the TIF Plan, the amount of County's taxes captured by the
Authority for the construction or improvement of the asset(s) must be refunded to the County with
interest at the prime rate plus one percent.
6. A prohibition against using County taxes to bury utility lines, for land acquisition, municipal facilities
used to house the Applicant's departments or operations, or for event and marketing materials not
directly related to the implementation of projects approved within the TIF plan.
7. A prohibition against using County taxes to accumulate funding to attract a developer to invest in the
District.
8. A prohibition against elected or appointed officials of the Applicant or their immediate family members
engaging in a business transaction, relating to property in the District, which he or she may profit from
because of his or her official position or authority or benefit from confidential information which he or
she has obtained because of such position or authority. This provision does not prohibit members of
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plans by the Authority to purchase property in the District from elected or appointed officials of the
municipality, or their immediate family members, shall be disclosed in writing to the County.
9. A requirement to appear before the TIF Review Committee to discuss any TIF Authorities created or
expanded after the date of the agreement as well as a right to terminate should the capture by those
TIF Authorities exceed the County cap in Section VII.
10. A determination of the base year used to calculate capture.
XIII. PRECEDENCE OF STATE LAW AND POLICY
Any future changes to the state laws governing DDAs, CIAs and LDFAs which conflict with this Policy, shall
supersede and control those conflicting provisions until this Policy is officially updated to consider the legislative
changes. All amendments to applicable laws enacted by the State shall be incorporated by reference.
This Policy supersedes and replaces the prior policies and Resolutions previously adopted by the Board of
Commissioners concerning DDAs, CIAs and LDFAs and the TIF Review Committee.
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General: On January 1, 2019, the Michigan Legislature enacted P.A 57 of 2018, known as the "Recodified
Tax Increment Financing Act," (MCL 125.4101, et. sec.). Prior to this change, TIF, DDA, CIA, LDFA and
other Districts were governed under nine separate statutes. The purpose of P.A 57 was essentially
twofold; first, to consolidate laws regulating these authorities under one act, and second, to provide
greater overall transparency regarding a tax increment entity's operations by mandating greater
reporting requirements. Brownfield redevelopment districts were not changed by or consolidated under
P.A 57.
Changes were needed to Oakland County's policy governing the Ad Hoc TIF Review Committee since
that policy did not reference the new law. The proposed revision now appropriately references changes
in the law. Other grammatical changes which were made for the sake of clarity. These changes
represent contributions from several individuals familiar with the TIF Review Committee, including Chris
Ward, Ingrid Tighe, Bret Rasegan and Mary Ritchie.
Below is a synopsis of the changes recommended to the policy document.
Sec. I, "Purpose": This section contains some grammatical changes, as well as language emphasizing
that each proposal by an Applicant seeking to obtain capture of County taxes by its TIF will be reviewed
on its own merit, according to the unique circumstances, and that the review process should not be
construed "as creating an obligation on the part of the County to enter into negotiations or contractual
arrangements with any entities allowing revenue capture." The language in this section was intended to
limit expectations of entitlement to any particular outcome, and to give the Committee flexibility
regarding any conditions it wishes to attach to agreements to allow capture, based upon unique
circumstances surrounding any particular project.
Sec. II, "Background": The language changes to this section primarily achieve reference to the updated
law, being P.A 57.
Sec. III, "Definitions": Adds as a defined term the "Act" which is P.A 57, and modifies other definitions
to update to the correct statutory references.
Sec. IV, "TIF Review Committee": No major substantive changes. Grammatical changes and changes to
reflect changes in titles of certain Committee members.
Sec. V, "Procedure for Bringing Requests to the TIF Review Committee": No significant changes.
Change in reference from the title "task force" to "leadership team."
Sec. VI, "Opt Out and Potential Negotiation": This section contains one of the primary policy changes
that are being recommended. The prior policy document contained language which referenced the 60
day statutory window after passage of a resolution by an Authority or TIF district, as referenced in Sec.
II, during which the County may "opt out" of capture. The prior policy provided that "unless an executed
contract is in place between the County and an Applicant prior to the end of the 60 day opt out period,
the Board of Commissioners shall pass a resolution to opt out of capture." The group believed that in
the vast majority of cases, 60 days was an insufficient amount of time for the Review Committee to gain
full information about the proposal and for Corporation Counsel to negotiate and get final approval of a
contract with an Applicant. Therefore, the language was amended to provide that "the Board Chair shall
direct that a resoiurion be initidied in iiie Finance wnuniLtee Uf die guard rewnunending LliaL die
County opt out of capture ... and authorizing Corporation Counsel to enter into negotiations to attempt to
establish a contract permitting capture of the County's taxes, based on the criteria set forth in this
policy." If a contract is agreed upon, it would then go back before the BOC for approval.
Sec. VII, "Limitation of County Funds for Capture": No significant changes. New language limits capture
at 50% of total ad valorem revenue, as in the existing policy. Update in department names.
Sec. Vill, "Requirements for all TIF Plans": This section the minimum information the Applicant must
provide to the committee for review. Deletes old reference to "One Stop Shop." No other significant
changes.
Sec. IX, "Guidelines for Reviewing DDA Proposals": No significant changes. Add the language "and any
other relevant legal requirements" to the end of Sec. IX, part 1, to allow the Committee to review a
proposal for compliance with any other applicable legal requirements which may pertain to that
particular project under the circumstances.
Sec. X, "Guidelines for Reviewing CIA Proposals": No significant changes. Corrects statutory reference.
Adds language "and any other legal requirements" as above.
Sec. XI, "Guidelines for Reviewing LDFA Proposals": No significant changes. Add language "and any
other legal requirements" as above.
Sec. XII, "Contracts with an Authority and Municipality": There are two primary changes here. First is
under subsection 3, which governs reporting requirements. P.A 57 mandates enhanced transparency as
to the manner in which tax capture is appropriated and spent by the TIF district or Authority, and
subsection 3 was amended to incorporate by reference those requirements, which are set out in Part 9
of P.A 57. The second change was the addition of subsection 10, which requires any contract between
the County and an Authority regarding capture to establish the base year used to calculate capture.
Sec. XIII, "Precedence of State Law and Policy": Adds the language "all amendments to applicable laws
enacted by the State shall be incorporated by reference," in order to keep this policy current with any
further changes in State law without having to do further amendments of the policy.
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is w consolidate andt P_ proms cmg Authorities t all prior Resolubons cone in be used as a g both Fo
The Purpose of this Policy went Fm raedes intended dmatood b '
'r to evaluate whether or not to e.Develop laces and supe in this Policy aze e q d
--Cc mty . C1As) or Local This Policy rep set forth it is adutoo lzdezd and ua addre'+
ent Authorities ( Oakland County ca lure. "hick nmsl b_ Brat d Pt
[,up ovem conditions in t out of a tea p out'kithW--- ---tea jt n , Neva Roman tt
economic s of Authorities. Twill not op reci{ic Ilk 'el-- - budget prionues not enu thority
imp�'oving taxes b}' one of three tY[ will or ement With an A iLFormatted;
to capture Count, antee that the County _ economic conditions and � cUaamed ._
interpreted as a guar negotiate a contractual arranI rc, enuc
should not be uvtt t}ut each lan restnt utn ly Otherttactors such as._,... Nothing to this Polio is tt
rma ouP' or may be captured. m annhcs allo„mg of T1F
Lat ual and the t:. din altt trnal 'a deimainz [o'bPt _ nrunict all
_PP--=-_ss au3'rckriow9ed^` eCountg may tax revenue that may al anvt'cmcnt^ttith a__
proce_. - ' .._,„c decision, Th -_a .,..,nunt of Counb .;,,r,,,ns ei contiactu._. _,T nehalf of ant Authorit -
_ _ ___ -----t
mat. Detaua) Time`
Ne'r+Roman
(...m....,.,=....a
Fa d Latin and }
Formatted: Normal, Dorn edlMA SE NN
teSan xext and 4
Asian text, Don't adjust Spa
numbers
;re n, Duero the time, P ❑term ,� — a coatracma ar ca turec by
nd municipality' to gn on lliz Pan et thr Ccu^—entitlemem to such' a�cipation in T� P
ro}ttn an County s P
s � caCitt� qu ublig,ISiy{ ercentage limit on the
„or anybr con cued annuaP cot and unproved economic
T nh1.-Iyrs Poiiz Provides an rove
e local Poll ropmable to utilize TiF t°'°1p
tes in effect to encovrag is a leSal en of
an Authority. which County taxes recziveRd of
gpCKGROUNU Dun a es ution
lI. several different state alit es to form creasz the am
"—°aze rn,ihed municip TIF plan to capture or in thority if it ad
ca tare b7` an Au oveming the
to anuan' i. 201q f+here d CIA laws pe can imPlen'Lnt a tits taxes from P uth
term
rio-!------'"'�hDFA an e t to exemP que or does not have a d b arc A Deity. Poor to
e DDA. Autho�e County has the rim atically be Captased 7
conotions, Th tout of tax cap formed before 1994 contr I to cap r
c
area or District. Before
hem'mg' the County does not oP 1 DDAs ,�{,�mxei-:r}kk'_�
a de med must hold a p {s held. If x revenues will autom
they uentlY. severe B � �.ymrtat<sr x,,. ,.,
Autl'ority. er the public hearing ublic hearin€. its incrementa
w4th n 6Q da}'s aft tout of DDAs. Conseq male. +lx- ��t-fa+t'{��Itha'-Act
w3tlam b0 days alter the Pbe ability to of dot for the capmre to term manc�n� ' F �
of tt e caPtane ive the County to seta ,llUe\'s t U s.
without the County's ability t<tect-d+ua+
199.. stale law did not g e p A �7 of
revenue _OlS krri'icn as the `Recodified {,js hjcrrmzn
CoultT tax _:���re��rm}'1-2U11:_. —=� .. 1'rir<tor,tabhhtas mctementcnrittzss___u__eh a._._.--may'"'"Y
�E
wined-�A`
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warn„�su
c Patwo} ` u-i �lsysgx
- of
u18_
_�>�:litj qp��t he �.ounty may
es0{aDistTicce CT Park`,Cots
1y,`Sgr-'� h"` °nndaT�` rnative x�.oveN
t,ayt at- - m the tfizJ altz lartd Tn t°ultnTat
DF Al is an Anent andProNo�rti5 d ec tim d to
ong h �cta olUR ce a n a$T
audhur:tY l DF { �r2°}c e t° 1j°
use
ent FinancinA taxes a, use of P
its ta* c. p kbw rn
to 4Tevent condition. u atTufactuT
pDA °TC�,h°sa PT�'atY I, t�esonthe tnc
Teas° B 4ato ctaa*t
nct
hue he rates
evelopm OTC hY a from a "t AuffioxitY
L
Loc tD 5�t1U\at. se0.�-1. caPnt titers the Drst turesdje PTOPCt �50,O0O the „-tt01
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ink 4l A0 LDezd Waked within orit`' ca4 value is a Ni(,-
es
- uiPTn e Ruth eax the ;1 .,t 11)t
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Md theT rest rnergY 4toductio refzTTed{Oast 000.000 and th Gs of-1 dauth°,'tics
ese
ano ssinS°Te ncing(TtE)rsD h base value is
der A' d outer sun
i�.enteJvn tFAs An
If if, base ye ase'n.al e' auth0rit "czn des co".LDF As.D oC 042 sand
n the inaTe ' AnthoritY fTtF Al is a0'
d ytistoxic 4Teser"
$° the in $25p p00 This h1elu P
DeD��hnrit+zs etc. rice {the Boordv Teviews
due ce,onomic de`etopntent an hb°TbpOdFinThis
increment Ffoan to utittZLNetg
et U't0 encouraR cans all authymees Aud+on�kos. Histo ew COtnnr4tC N,W 5hir rep " 1� lines and sto tate taw coNoN CottnnTtte
A�th ties m ro ev 0f e,Vaii5o of `ftF
'voc @lAter Restmeans theacc�aT�Oot Howepb l guard not Anthorides uidiai %TtF.the
e�ea. Cum, and OPexate`pF As as PTO`id e C
�Fk R t° review the treat'° the
onttni�`=tDn`- ClAs and to rese
ntative {rom' t P to
,iFAPro r W Cph11VF M oaTd of coum`bribed. Hers ntembeTsdC° fir oe� ntw ytd tbe tyug'cre
Saks for DDP's' `TTEE . okacTs
RED lE hat 6 preVi°nslY 'SW mn
TiF ,tablished Board 0t
ittee w Autborities m„mbers. TenT on' of catty` scerTn S
is torrent•
- ideNif}�n�TC
°-Y, T1te Finzat
Comm e at of e tpnitssione
.r F Review 71F Y d of nine. eve`°�z beR`nnmge FgOnom
s. The Coun
owool
lly
b is
m a non-volut
s o 0f eview COC° n, of the yoaT view C°e
A cis r the use i eompAt, -
D{he IFeRet"h'e E0.nat tt 0 DAbegoard' f o eG e erC mn ittee M?nSiAAn p ittt d bl't - discbi'�sionn°{the TD �e
n
"(TC mus 'PT'VIco "W-C e- hbc N l vi' e C..h b and on od tnii sh e'n`ited to PAd
` ` l° "iXi e c.bav' veTso "mitt@, the A4Plican
l uniA of rtm,enoe
L\ send abettcx Muthottt5 a bat cot of tti s
Cnanpe �n of the Board shxae of 1 t T 'a eque t P
shall atsv shall contarn .a Co .'
\icheaxtn�1O cons ave b°d5-dh` letter d leuex
mmissionexs, ihhe ub ad of the 1zg kxrrv�. - ffie dart °t a
m m
of the BOazUpc.. __ i e data Chair as D loPn ant- .o xs, axa'°
of Commis ne
ow
pt t e u fY xz4`}zstio F be yren'to th T The 'I.°f bevn°mQ° act,
notice xeczived bcw�L B�nittee. °f �iF
m A istrict utilize C°unzs drib °Lit} coPS. ea of the Re["fEE zem€ Abe uae not of
of a" s be sent to endmen to ee shall send to tbz members W CON[Lv[[ tfcants cpnsid thz DePa toe A'F
any �" TLF Re`'ie C1o'1F by °A' Aushozn5, O�RE.[,[F REV [E endinl-T1e si�ap°" �dV ion Ot I's PAW tn 4 e enl T[F- 11 �untt•
ouxt
aitperson °t tbstder the u'`e of Q, A`'� ot, itiaiID€ or a Cot and the t is eucoux'a=beU ° utibZ a P{OQnate to enter
'Lhe L bin€ tO can $R[�G[l�G advance m eP"°rtm p_n ApPb" a a pistri°t °rdation oevh K� Commrttee
pub CE[g[iREFOR N,iththe County view C0 tstnen .ttt'[esPan axecvmn`ete T[F R
YRo o meet meet the Re Auhori vice andmndation by v n€ C°un ynd dare tot
s An
V . 'ouu<a8es�n b conomt° Devela eetm� vvit, e4ablish °"o it w xe a recomn'
rnm r A° g0, a.
to
sta
be ld ° t t d Budget Pn �z ,t olf apTeope"hti c an gt'Lstvi tYbaveHtth ¢Plan- Pro a District °r �a with Abe C.o Atti. Pubi cbA, s y�. to e ct+05ou is tan
emeni'." .'boon&tu an thath
1 lvl ittee PhOr AP4\icane to n
Rev ev*' Comm cpnsider corm
lor
,IV Plan frvm �' Conuux e TO
ne$otia tiv - nxity texest
s To cremenA FiCa't n S � der trmmf it s to its best in to
E,{z uitfor th tB ApPliezo ,1.� gee
1 if a Y= >cCtttiNze a d by tbz 'Teat d m'd yttthc discreet APPh�dut in dzterminz
ne€ tiations Cvmxn.Vtee sbatt°t shall bz as hority di>'triaA, It sh:ilt aescretion of h' 0
vie q Distn des an the e 1ct nti4�in° . z
tze "' 194 iuctu d b= llbe aA th .t,". Dian nnn6t
-fLF re- taxes. Tb�> trc,.v °` Z1F Ylam it sha mg Author
"he t with a P ivn ut a ce C ° llttu
ican County e41 v e,,st apat'> the Pink^
the aPA" Ae oCt \2518p1 e�ipate in a n Cayes b5 aprz S ne ntti n<stioit . tf - c,t
tc th' ercaticyc`-°t e. ated to Counsel. hz Qrt'"� -
ame de reement to Part eof County '('lAT[ON 3n U�t}rurftY"xesolu�lt�h. riun�in thi�BPlt.;_:,J poaxd'd
rest mn tp end Abe caPt`u @®T•ENT[A['NE�ilct thcy'c9�`-�aFx�ha}l dacct h\lt-''-z-l�tun az �tytztiaset\m C°nvitt`tA
OLIT AND U• Wn z Soard �h ,Puler prov tdz �std v sl tc t\je 1 itnot`o}',t}}t 4 4^'4,4t�peattt,=-
r'[. OeTna; of ` pni"ah t to t \ rt-'ut n ds� s L�vzer'.,}{-`�� riA4k
^clad
No w+dowlor?n°
test o oe'"'
�e°rma�
1
Li lira
-
0ic aet
- , t�a'k Y°tc�ylti=',i�"'t'u _el-nenatiale- :
1"a a\,t t<rist lictxt'`•nn..
rs''\' .. ,eea
d...enkC[
_,_ Ira''awtatt {ive Percent
-Ft* I'y°t4 " i ,rr rtitkFo,: taa�`" - exceed \iedY+)
t� tote` OpA g
i',ie ll{ zTs.00 7
t.F Caae..ka . rat,es„d. ssion U1tE ao yn nal ou ) millage vc n'pce e<i
tt;x1.: o�d of Commt T ties to v t\ie C not
ha``e an
n so
T(Y Anth°t'OO O4hedb., tsthat do
'_-13;cn\.uW tithe P' bean 't
ttx'. '.nrtn:.- tt` COUNTY Ff7NDr�FOR LAY tmi to A4P ri
foT use by ties
cent l
OF ental Propeieeau
fov ah 0°n°e enue ha\l�glven mTmg lessae`P� ,mi\\agc
L` fT AZlO niit the caPtl'n F, I thl ountl' s incremenialtax given to AP Ue foT mume'patval ale ht%` ntuhi4lie o`em\\ caPime
vn
unt; C�i>n<Ta4Pmval io caPtu istricts,Preferean`\Te otat taxah\e v' oteatec ProP°i,n�F pitrict- e )•an
Oak andC°total Y, aP
\ oro yteferznce on g{D aniciP' j° nsti estab\is e foT o antes th
existing theism tco mtbac n ed �1 mT e
5 (o. shave PTA daitLu' Gounb' caw `vnsoij w nae avail wt Alez ntnb otng
Di, icts. lev)• tax 'eve tes
licgo tha ssz le to the, z oT toat is co d
ohm considt f`opP o rating tTevenue attnaleo the city, viliag Count)advA�ie115 Weate eT � itN to` gootPu+t not to excee
is
01 ate'm tt4 tedl'7. 5�,01 Dis4Ttct'th°n c Ptore that Is alb 0°/0) oC the tota\ amN� h d)e �thoDse i°� a ed b7' agreement t° ,de t1,e t;ot, e
ach indlvidua\ mar e ProP°rtio fifty Percent f z oT tovv"sbiPt° contribu ma7 oa\ILI y ` L'— wYtb d
por only il' than -T villas the County ntv raven :tnn e ew 0°inn` of PIoP°se
Auth zmore b). tha ro4p$ed{Oeavwxe of Cou che..l`c re d�'2 i1Y`�ader peri?al'unPact p°the
b) t a will not contsibntcont ibuted`ahat is P, on
unty the am°`m venue thy' the \tmnatioe ua then a„ailab n Dy artmynl, a• fin+, _ ` ae nd e 4 t'
a
Aut °n �femn`C yes d`at of tUnt7� lorem tmo thttvahf <�ust aP� aon h 6R,4 to un
with
amo e,ao oal ° tof C° v ,artmcnt. t"` �,,,.yz niies plans .villa
of eve\oPtnent J,,,n+ti'`b all T1F the time
e gconomic Dr tui-ce%nio�nb: tnx ann�7•.rpTior to
Th �-s icu tuTe e
k�°uni f the total A estahli�?ds bye i to caPtn
.t`F lans boyupBRCOnnt)
tt am
to
Asp ovided bylaw, Authorities may not include in the capture any local taxes attributable to the zoological authorities act, the art institute authorities
act c r other local tares specifically excluded by law.
PIIL REQUIREMENTS FOR ALL TIF PLANS
1. The TIF Plan shall include all properly classes (real and personal property) in the total capture. unless otherwise provided by law.
2. The Applicant must provide financial projections that demonstrate a positive return on investment of County incremental taxes proposed for
capture as well as an improvement of employment and the taxable value of the District. The projections shall attempt to include details on
the projected number and types of new and retained jobs and a projection of tax base growth for the entire capture period. The TiF Review
Committee may request the County's Equalization Division to conduct a review of the Applicant's projections.
3. The Applicant must disclose any agreements, proposed agreements, or opt -outs by other taxing entities and any voted adilages that would
impact the amount of lawfully captured tax revenue.
4. The Applicant must disclose the dollar amount of capture by all TIF Authorities in its jurisdiction.
5. The Applicant must explain its plan to inform investors and businesses in the District about the services available from the Oakland County
Economic Development C—oaaraaaig-kk' s Department ineluding !he One St,_ c
Dete4,pnn+ear- iion- and drd (rI. -.,1c4a.^,d-C- n s -. Fmance C,.-..,..nefl
6. The city, village or township which created the Authority must adopt/amend its community master plan to accurately incorporate the TIF
Plan.
7. The Authority utilizes all (100%) of the TIF revenue for redevelopment efforts, i.e., those activities specifically authorized within the
applicable act, including operating expenses of the Authority.
8. The proposed plan must meet most-e the standards provided in this Policy.
ix. GUIDELINES FOR RENEWING DDA PROPOSALS
The following performance standards are established as guidelines for evaluating (kJ a new DDA with TIF requests, and/or (2) requests for
expansion of area boundaries by an existing DDA with TIF.
1. Meets the requirements of PuhFie ?. t '. Q7. 1 "75 _r :m,,,eRde the Act. and am other relevant leeal reuuirementc.
2. Demonstrates declining property values exist in the District which is caused by factors such as blight, reduced building occupancy or below
market rent values.
3. Supplements TIF revenue with a DDA millage (up to 2 mills), special assessment and/or designated budget contributions from the
municipality it is in, to demonstrate local commitment and binding for the DDA program.
4. Demonstrates that most land within the District is used by a traditional, commercial business District (including uses such as commercial,
retail, office, public/civic. multi -family and mixed -use with upper floor housing) and may have buildings of historic importance.
5. Establishes that the amount of land area devoted solely for single family residential use within the District is limited.
P-aao 6-e€€19
6. Demonstrates that any single family residential development (planned or existing) within the District must support, contribute to and
compliment the business District.
7. The Authority has adopted/ amended amanagement plan based upon the "Main Street 4-Point Approach" of Organization. Promotion Design
and Economic Restructuring.
Ema
anon
in a (\F Plan.
nests for P'al`iciP tnlrct»�i ts. ,-'AWN �\advzlS
OpOSALS CL rzQ iut \. 3 r iftedn'\nficldarea0
G C� pR £ore a\natin€ °thct T \ ea T`tecta sPe n€ a $t` c hz putborit
ES ,ORov if, N,A�bhsheJ as caide\fines he 5 en deveao% o dt s t d`ve\ m PYdYmeJ \a"d nse o 04 the Anibo�'
1_�EL`t3 es -. h'p oPzd F
°naance swndaTds aret co p\rzs dzvef P 8
f exiStin'b 1�,° of t}Te existing an CanntA 1�T us
d � andcotn
gin$ Pe able cntetia in Conm`tne \m'a"" o moTz thaT� hz existing and'oT vN'v' aJvanta w
all applic Sz T1F Re ¶, �J.bT rzvtta 'evopt'sz m 3po;o °f t vu;ot
Nebsitc
w
M ilot' cattbZ°z e\oPm pJy tzsiJenti'al 15° do J°zs nOt con,Pvse oeefd`a v Od d ri on 2t scs r
fo
Tegoe
e05 d°T
unJzb' spedart 'm$le fax tt7 Tesidendaf use ideas teQ<'zs. ax' th
to dens „timer$u'$ c4uest. th rn$ e
Distttct ttatzs thatl' Ef` of mote of,b to &nm
eits t a',S nzw lllP A �Glud
Lmons wove pOS
L' f as0.ible, exP\•aIDoh .44N be - (NIASt -, G LOF A pg0 (1) a
es forz`,slnattn$
if an onomic $F B �`VO J nidelin
Gt}IDLL]NLS FOadatds Sire DY �'.hdh \ cr m\t. ant \e<?\ Tea`ar`ment-p,a co thz
t ntam
name an zx d ar+)_ nt1\. - d APPlicant 'Sus
The tol\oafa{b°unAaTiesb7�teria in �bz- eysz}`nz L�ict. ,CtpALf�Y "es the C°oast; �' ch occtas fast.
c`P sio hfzcts giap\an tet41aTzplyxt° suPP°RbuS'CtpO�TY pM plicant-a\\cOnaazUbety, tcs-,yhi zvzr evznt t
1. `.eloP en P tete ° N AU s tb an AP \\y tetrotna io ..a;, <z
to atica<eas
Kas abus es> n,PS WI'C 5`, y�ne$°tiati°n nuaet WUtotn nC nent o{
dof C®<`t is aPPt°ve contra nt of ta Sg wSo ultnxatt°�tn the Yftchiaau Dc
th'' zd anda`-'et n°t oc,-'Ac
the folio tined to
1io11 vin�A szt dol\ar i7uwtot c 4�uth� act
am
2. 4 q'n'mentC h?''an�
tfiAec Y.
n nc—g�
FFomm�tt� �pnt `� Y�-
am cthe<.
at TtF n'
aq
S`�NeW .S •µumbe' 1
tit. tea'S'ttat i'.tan t
Cwrme UnPa.a.p;.ytat.
�iri.ttpe?nta1.°ianJn f0,yel'. t x NIeR x P\NKY t at t.
thy zntl u1 _ _`Ncj n`u,�.;�t4itt�e', . boildin6•
yliz`-tna�'b�` vttem'nR�h2a"�< Pe. P°r
p_Tzz_;I_. th' �lud and the
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't a, ,t�,tytil�:�F to ycaPthP°>ectmthettec 4'ed foota�Be Qez bn nt andtbC sQ 011
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.mod- .Chets4znt°u ctoz b"'estjed-the dollaz zOU ����p,°nOact ec Uvea! n3e
i. ZFtepU°t of b ildmgs teh btin� cl�ye District. ye.ye�. cm;atiW zz4 zo`ement
u' Shc bet o f n x constn'sses tocat e fast Ci the Cm� oz huP is aze
1.
)n TOO
Icak
ttt . S b rmnbe 0 { n ' °b.tbetmKable vai"e. evievv C,nm o my � nh�d discUllst include abefcan9 itte Po the cO s °eti°ns
Tbc nUmb"Co",
�idectease - fo tbc'Sl wed tetttN list oivToNcct, "'Temena Yg`e Autl'°zitY the ApPiican4.
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vit. Fbem at be Dieter°t es. 'Cbc daa5 i �ca4t"re ercent tO bonne vedwtt '
vtii-ia1-'c is must a4Pe'ni the aed'nisto atoa ry; stage_ Sus o"e P-.,s rased t, a4Pto
ithat A44therea0'et_lo4 err. n' cimP eme otm tCo pi mtniciP �itrio ey~ ton,
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of raw to e fa
A te411ff, li)7eazs abne°s to fv f buitclh�'CCF P\an.` hini°Td ac4 sition��e�mPlen`enta ct. abusinessbeI tt front
act
�- 'AIN h IPtOS�ty the L°fie'OoserNctiodtcaled in Co"ntY for tan re\ated the Dts a�,v'8nr otiCy of embexs Of
an datetndcdb n1itY ensts not daectt, loPzr to miisim mats 5 ion of S� obibitm uxeba m
Aiist b�sical'as'Q`im4ttCs\m"stb to-ce`to bkefm€n'at actadeve tale f�' otrt'tciat P°'tt nd°e tb°t��oritY to PlO
Qf
5. an at to arts ett immed is or ber Zhis 4zovtsi,bv e Asbab be dts
tp aP nstzncted of tb° as' LoUnri' d m
not co ent Using event }otrdm8 t Of tb e of h o6ty. AUv P tbzts. ntent
6 a�4z_ ° to aQ
"i of oPezatioa n� CAuna P° rated offe+ oa hf m�e poser frt b 4ess nri e he Der1, t r e Pt�`d dVlbl r the ate otthe wee
AY�P'Plhibit, oniins XeQn0ie Dtst he o he a�bto A o a1s optbe mt carpal A botttte ontY 4 Section
to-VIV
fig. 4e aitng rttal WS ', Ot v' Au e°p ed m a4Pomted ° wee to dt� �oxnie exceeds C
fla"
Oo3
Ongcrlmtb onnt<,ftbefozetheTaheca4ttuGb In S1F
QyTitinSpeatto Ooo apP` pnmatc s a°ul/cdl� �4�yitY,- ND �OC'FG'S`
- ko
cetgellasa"�rn ttt�h""c Ok STA��DA A
a dctci�rom. ONCE
Any future changes to the state laws governing DDAs. CIAs and LDFAs which conflict with this Policy, shall supersede and control those
conf feting provisions until this Policy is officially updated to consider the legislative changes All amendments w annlicable lao enacted_hN_tlie
SSat ,hall be incorporated b) reference.
This Policy supersedes and replaces the prior policies and Resolutions previously adopted by the Board of Commissioners concerning DDAs,
CIA; and LDFAs and the TIF Review Committee---rl�--a ,44u,1,-R„` .- a.,�=.R D',�-o--'"'++-l64.