Title
An Ordinance to Amend Sections 1:155, 1:156 and Add a New Section Which New Section Shall Be Designated as Section 1:160 of Chapter 7, Downtown Development Authority, Title I of the Code of the City of Ann Arbor (Ordinance No. ORD-13-28)
Memorandum
The Joint DDA Council Committee, per the direction of City Council through Resolution R-13-216, is proposing amendments to Chapter 7 of the City Code. The committee, comprised of City Councilmembers Steve Kunselman, Jane Lumm Sally Petersen, and Christopher Taylor and DDA Members Bob Guenzel, Roger Hewitt, Joan Lowenstein, and Sandi Smith met to review language clarity, budget priorities, and other policy initiatives.
The Committees’ recommended ordinance amendments recognize DDA’s contributions to downtown development and the need to plan for downtown’s capital improvement needs. The committee’s work was guided by estimates of future downtown taxable value. City and DDA staff provided their estimate for TIF capture and tax return, as requested by the Committee. After reviewing several alternatives, the committee is recommending a 3.5% TIF annual cap beginning in 2016.
The Committee believes the recommended amendment provides language clarity, recognizes the DDA’s contribution to projects that will be added to the tax base, and provides a sharing of the growth in the downtown’s with other taxing units.
The recommended language regarding the annual TIF report is to provide local assurance that state requirements will be followed.
Body
ORDINANCE NO. ORD-13-28
First Reading: November 7, 2013 Approved: November 18, 2013
Public Hearing: November 18, 2013 Published: November 21, 2013
Effective: December 1, 2013
Downtown Development Authority
An Ordinance to Amend Sections 1:155, 1:156 and Add a New Section Which New Section Shall Be Designated as Section 1:160 of Chapter 7, Downtown Development Authority, Title I of the Code of the City of Ann Arbor.
The City of Ann Arbor Ordains:
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