At its Dec. 5, 2011 meeting, the Ann Arbor city council made three appointments to the board of the Ann Arbor-Ypsilanti SmartZone local development finance authority: former councilmember Stephen Rapundalo, current councilmember Christopher Taylor (Ward 3), and Eric Jacobson.
Of the positions on the 9-member LDFA board, the city of Ann Arbor appoints six and the city of Ypsilanti appoints three. One of the six Ann Arbor spots is for a member of the Ann Arbor city council, which had been held by Rapundalo, until he was defeated in the Nov. 8 general election by Jane Lumm (Ward 2). Taylor is thus replacing Rapundalo as the city council representative. Rapundalo’s appointment is to fill an existing additional vacancy on the board. Jacobson was also appointed to the LDFA to fill a vacancy on the board.
The local development finance authority is funded through a tax increment finance (TIF) mechanism for the same geographic district as the Ann Arbor and Ypsilanti downtown development authorities. The LDFA currently receives no revenue from the Ypsilanti portion of its district. The taxes on which the increment is captured are local school taxes. The impact of the LDFA tax capture is spread across school districts statewide, due to the way that local school taxes are pooled by the state of Michigan and redistributed to local districts.
This brief was filed from the city council’s chambers on the second floor of city hall, located at 301 E. Huron. A more detailed report will follow: [link]