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PA 57 RECODIFIED D TA TAX X INCREMENT T FINANCING G ACT T ACT - PowerPoint PPT Presentation

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DOWNTOWN ASSOCIATION PA 57 RECODIFIED D TA TAX X INCREMENT T FINANCING G ACT T ACT T 57 7 OF F 2018 8 Quick Facts Replaces PA 197 of 1975 Recodification and establishment of certain tax increment finance authorities,

  1. DOWNTOWN ASSOCIATION PA 57 RECODIFIED D TA TAX X INCREMENT T FINANCING G ACT T ACT T 57 7 OF F 2018 8

  2. Quick Facts ▪ Replaces PA 197 of 1975 ▪ Recodification and establishment of certain tax increment finance authorities, including Act 197 of the Michigan Public Acts of 1975. The Act repeals and recodifies multiple acts related to tax increment finance authorities, subjects the TIFA to standard reporting requirements, and provide for the continuation of existing authorities created under the statutes being recodified. Additionally, the Act repeals two TIFA acts that were not being utilized. ▪ Treasury Gathering Info from Reporting Requirements ▪ New Reporting Form- Each DDA’s Report Now Consistent ▪ Law and All Requirements (Act 57 of 2018 MI)

  3. Timeframe 180 days after authority’s Fiscal Year 2019 ends: January 1, 2019: 2018 PA 57 takes effect. Post on a muni cipal or authority website, (or if no March 1, 2019: Department of Treasury must website, maintained in a physical location within publish form to be used for reporting by the municipality that is open to the public) all authorities. items listed in Sec. 910 (1) . April 1, 2019: Deadline for authorities to provide 180 days after authority’s Fiscal Year 2019 ends: a copy, or a hyperlink to a copy, of the currently Submit to the Department of Treasury, the adopted TIF plan ( or development plan/TIF plan governing body of the municipality, and the if a combined single document) to the governing body of a taxing unit whose taxes are Department of Treasury. capture by the authority a report including all items listed in Sec. 911 (1). Send information to: Semi-annually beginning January 1, 2019: Treas-StateSharePropTaxes@michigan.gov Authorities must hold two “informational meetings.”

  4. Website Requirements Sec. 910 (1) Subject to subsection (5), each municipality that has created an Imlay City DDA has its own website but authority or that creates an authority municipality and DDA sites linked shall create a website or utilize the https://www.icdda.com/ existing website of the municipality that is operated and regularly maintained with access to authority Fowlerville DDA included within the records and documents for the fiscal municipality website under Departments year beginning on the effective date of http://fowlerville.org/departments/downto this act… wn_development_authority/index.php

  5. Website Requirements Sec. 910 (1) ▪ Minutes of all board meetings ▪ Annual budget , including encumbered and unencumbered fund balances ▪ Annual audits ▪ Currently adopted development plan , if not included in a tax increment financing plan ▪ Currently adopted tax increment finance plan , if currently capturing tax increment revenues ▪ Current authority staff contact information ▪ A listing of current contracts with a description of those contracts and other documents related to management of the authority and services provided to the authority The records and document information required above would be phased in from the effective date of the Act. For the fiscal year in which the Act takes effect, information would be required for that fiscal year. For the fiscal year 1 year following the effective date of the Act, the information would be required for that fiscal year and the immediately preceding fiscal year, and so on.

  6. F owlerv ille Downtown Development Au t hor ity Fowlerville DDA Board Minutes Annual Budget Lists: • 2019-2020 ODA Budget • 2018-2019 O DA Budge t ' Board Minutes Annual Audit • 2018 Vil lage of Fowle rvil le Audit Annual Budget • 201z Vi llage of F owlerville Audi t • 2016 Village of Fow l erv ille Aud it Annual Audit Annual Finance Report Plan 2013 Plan Amendment DeveloP-ment Plan Contracts 2014 Amendment to the Village of Fowlerville's Tax Increment Finance Plan and Downtown DeveloP-ment Authority's DeveloP-ment Plan Staff DDA Current Contracts Econo m ic Develo r.2 ment Council of Liv i ngston Countv. P.J. H. Management L.L.C.

  7. FDDAChair Fowlerville DDA Steve MacDermaid Te rm Expires: D ecembe r 31 , 2022 FDDA Vice Chair Lists: Paul Harmon Te rm Expires: D ecembe r 31 . 20 19 FDDA Treasurer Board Minutes D awn Horton Te rm Expires: D ecembe r 31 , 20 19 Annual Budget FDDA Secretary Aleta Kadletz Annual Audit Te rm Expires: D ecembe r 31 , 2021 Members of the Board Plan Connie Shear Te rm Expires: D ecembe r 31 . 2022 Contracts Carol Hi ll Te rm Expires: November 20 . 2020 Staff Kevin Caine Te rm Expires: D ecembe r 31 . 20 19

  8. ~ ~ ~ □ ~ Van Buren Twp. 11 Faceboo k n,j how to take a screenshot wind o + M ic hi ga n Downtown Associat i on x X Michigan Dow n town Associat ion X About The DOA - Van Buren T ov X X e i https :// van bu rendda.com/about-the-dda/#financials * DDA . .. Apps a Product support a. Ho me About The DOA v St rategic Location Bu siness Opportuniti es v To wn ship Profile v Calendar v Co mm unity v Ne ws Contact v FI NANCIA LS Lists: Our commitment to keeping our commun i ty info r med has never been greater. Our desire is to be transparent and accountab le in all aspects we are entrusted with - finances, the community's economic outlook, projects completed and those schedu led for future comp letion, along with the ir as s ociated budgets and costs. Here you'll find expenditures for recent years and cert ified audit reports. Board Minutes ANNUAL REPORTS DEVELOPMENT PLANS/ TAX INCREMENT FINANCIAL 2017 -+ 2013 -+ PLAN Annual Budget 2016 -+ 2012 -+ 2009 -+ 2015 -+ 2011 -+ 1993 -+ 2014 -+ 2010 -+ Annual Audit Plan DDA ACTIVITY RECAP The DDA has been working hard at making our downtown district what it is today! View a collect i on of projects and i mprovements Contracts xganization's incept ion, along with additi onal projects currently underway. VI EW THE DDA'S https://vanburendda.com/news/ Sh ow a ll Join usJpg Staff

  9. ~ C i https:// vanburen d da . com /about-the-dda/#work-to-date * ••• Apps a Pr oduct support a. Home About The ODA .., Strategic Location Business Opportun1t1es .., Township Profile.., Ca endar.., Communityv News Contac .., SUS AN IREL AN D LI SA LO THR INGER DOA Executive Director Assistant Executive Director Show all [. Van Bu ren r eca p .pdf 2018-19-DDA-Bud .... pdf " wake up setJpg

  10. ~ * PJ C i https :// vanburendda.com/about-the-dda/#financials • ::: Apps a Product support Home About The DDA v St rategic Location Bus i ness Oppo rtuniti es v To wnship Profile v Ca len da r v Com mu n ,tyv News Co ntact v Q DDA CONTRACTS AND SERVICES In compliance with Public Act 57 and the DDA's desire to be transparent with the community , a listing of current contracts and management services provided to the DOA are available for public review . Axiom Construction Services, LLC Pioneer Landscaping & Lawn Maintenance General Contractor Services for Placemaking Project Landscape Maintenance Communication Associates State of Michigan Department of Transportation 1-94 Pedestrian Overpass Marketing and Public Relations Services I Gonczy·s Property Maintenance, LLC Wayne County Landscape Maintenance Streetscape Maintenance l£ l£ Show all X A Van Buren recap. pdf 2018-19-DDA-Bud .... pdf "' wake up set.jpg II Q Type here to search

  11. According to Treasury, in an email dated September 9, 2019- • Contracts would be any active agreement the DDA has signed with another party. • An example could be: Bob's Landscaping 123 Main St, Lansing MI - snow removal and landscaping. • A lease agreement is a contract and should be mentioned on the website with a description of the contract. • There is no mention that the contract must be posted, only a description of the contract. • Other documents for example, could be agreements the DDA has with the county to only capture a certain percent of the property taxes. • If a DDA has no current contracts I would advise to mention that on the website so it does not look like the DDA forgot to put a listing of contracts on their website.

  12. Website Requirements Sec. 910 (1) ▪ An updated annual synopsis of activities of the authority ▪ List of authority accomplishments , including progress made on development plan and tax increment finance plan goals and objectives for the immediately preceding fiscal year. ▪ List of authority projects and investments , including active and completed projects for the immediately preceding fiscal year ▪ List of authority events and promotional campaigns for the immediately preceding fiscal year

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