The Washtenaw County board of commissioners has given initial approval a policy to guide the county’s participation in tax increment financing (TIF) authorities. The action took place at the board’s Aug. 6, 2014 meeting.
At its Oct. 16, 2013 meeting, the board had passed a resolution directing county administrator Verna McDaniel to develop a policy for evaluating future TIF proposals. The resolution stated that the policy would be developed with input from staff of the office of community and economic development, the equalization department, and the brownfield redevelopment authority. The Oct. 16 resolution was passed over dissent by the board’s two Republican commissioners, Dan Smith (R-District 2) and Alicia Ping (R-District 3).
Subsequently, an advisory committee was formed to help develop the policy. Members were: county commissioner Andy LaBarre (D-District 7); county treasurer Catherine McClary; corporation counsel Curtis Hedger; and finance director Kelly Belknap.
The two-page policy brought forward by McDaniel lays out a process by which the board would consider any proposed or amended Corridor Improvement Authority (CIA) or Downtown Development Authority (DDA) where the capture of county tax revenues is requested. [.pdf of TIF policy]
A final vote is expected at the board’s next meeting, on Sept. 3.
This brief was filed from the boardroom at the county administration building, 220 N. Main St. in Ann Arbor. A more detailed report will follow.