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Home My WebLink AboutResolutions - 2008.06.12 - 9516MISCELLANEOUS RESOLUTIOr 108117 June 12, 2008 BY: Finance Committee, Mike Rogers, Chairperson IN RE: BOARD OF COMMISSIONERS — INDEPENDENCE TOWNSHIP CORRIDOR IMPROVEMENT AUTHORITY 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 (Ms); 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 on May 16, 2006. Independence Township passed a Resolution of intent to establish a Corridor Improvement Authority for Sashabaw Road; on June 20, 2006, the Township held a public hearing regarding the intent to establish the CIA and the proposed boundaries of the tax increment financing (TIF) and development area; and WHEREAS on November 16, 2006, representatives of the CIA presented the TIF and development plan to the County's Review Committee; and WHEREAS by Miscellaneous Resolution #06237, this Board of Commissioners determined to exempt County ad valorem property taxes from capture by the CIA; and WHEREAS since the 2006 events outlined above, representatives from Independence Township and the CIA have spent considerable time and effort working with the County's Planning and Economic Development Services Division to structure a mutually acceptable development and TIF plan that the County and the CIA could agree on; and WHEREAS representatives from the Township appeared before the Review Committee on September 25, 2007, and again on March 28, 2008 to present a revised TIF plan for the CIA; and WHEREAS the revised plan includes the following substantive changes: (a) A 50% reduction in tax capture; (b) A decrease (from 20 years to 14) in the number of years of capture stated in the plan; (c) A reduction - from $16.000,000 down to $3.8 million — in the cost of projects the CIA will undertake; FINANCE COMMITTEE — Motion carried: Ayes: KowaII, Zack, Crawford, Middleton, Long, Potter, Rogers Nays: Douglas, Coulter, Woodward, Greimel (d) A corresponding reduction in the number of projects, thereby limiting the projects to the following: 1. Acquisition of right-of-way and the widening of Sashabaw Road north of the interstate 75 interchange: 2. Improvements to the Interstate 75 bridge and interchange; 3. Completion of streetscape improvements, such as landscaping, irrigation, signage, and coordinated lighting; 4. Legal, financial, and general administrative services. WHEREAS the CIA has successfully demonstrated that its plan meets the County's Performance Standards for Review of Proposed CIA districts. NOW THEREFORE BE IT RESOLVED that, based on the report of the Review Committee and the recommendation of the Finance Committee, the Board of Commissioners finds that the Independence Township CIA project supports job creation and retention at a critical time in County history. Further, as the first community to seek County participation in its CIA, the Independence Township CIA sets a precedent for other communities who present CIA development and TIF plans to the County. BE IT FURTHER RESOLVED that the Finance Committee recommends County participation in the TIF plan in an amount not to exceed $1,294,501.37 or for a period of 14 years, whichever comes first, beginning with base year 2006. Said participation is limited to the projects outlined above and further limited in TIF capture to the parcels listed in the attached Exhibit A. BE IT FURTHER RESOLVED that the County's participation is contingent on the successful negotiation of a contract between Independence Township, the CIA, and the County and, further, that MR #06237 is rescinded, contingent upon successful contractual agreement between the parties. BE IT FURTHER RESOLVED that the County Clerk is directed to send a copy of this resolution to the Clerk of Independence Township. Chairperson, on behalf of the Finance Committee, I move adoption of the foregoing resolution. FINANCE COMMITTEE -144,:b INDEPENDENCE TWP. CORRIDOR IMPROVEMENT AUTHORITY 1/ Project supports job creation and retention at a time when we need it most. (McLaren Health Village, other projects in development area) 2/ Project provides for basic road infrastructure (bridge and road widening) that benefits McLaren, DTE Music Theatre and communities north and south of intersection. 3/111F plan requesting only 50 0/ (not 100%) 4/ TEl plan for 14 years (most are usually 20) 5/ TlF project list reduced from $16 mil. to $4 mil, 6/ Sets precedent for future CIA's 7/ Township terminated DDA in mid 1990"s once project was completed. 1.:arlrELVINerynon 1/2210,1 Fag. 22 ot Appendix a Revised Seehalwer Reed Conidoi oyarnent Aulhon rajeci Riad Schedule and Goal C sdarnales 1.'1 gm. 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Inn In NM III MINN 111111111111 141700.0 $417.500.03 .046.0a00 . I:3 /111 NU 111111110 Ill III IIII : 11431"" ME =111 Ca II. IIIII 1.1 Mill 111111111 1111 11111 1143144 "I MIN 11=11 MM. C31 IIII 1111 /111 III NM El /1111 Ili . .. =all 1.11111111 C=Ill MIN 11=2 IIIIIIIII NMI CI•1.1111111111111111111111 NI NUM II=11 2-°15 1111 11111111 .ANIIIIIIN NMI .„_,, =MI MIMI MEN II= _ I 1 'a"1421/1° MIIIIIIIIIIIIII PLOW N El 11=111111111111111111111111 ,14.7i4,023.00 5 i 6202402n SbA ZI.103.00 1111111111=1 MI 11111111.1111111.= '—r-- 1 EBY APPROVE,THE FORM RESOLUTION / 1 7 /W Resolution #08117 Moved by Rogers supported by Middleton the resolution be adopted. Discussion followed. June 12, 2008 Vote on resolution: AYES: Gingell, Gosselin, Jacobsen, KowaII, Long, Middleton, Potter, Potts. Rogers, Scott, Zack, Bullard, Crawford, (13) NAYS: Douglas, Gershenson, Gregory, Greimel, Hatchett, Nash. Spector, Woodward, Burns, Coulter. (10) A sufficient majority having voted in favor, the resolution was adopted. 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 June 12, 2008, 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 12th day of June, 2008. gat Ruth Johnson, County Clerk