Title
An Ordinance to Amend Sections 1:155, Section 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-13-05)
Memorandum
This revised memorandum provides background and updated financial information related to the Ordinance amendments before City Council for action.
Background
Amendments to Chapter 7 of the City Code were originally introduced on City Council’s March 4, 2013 agenda and postponed prior to first reading. On March 18, 2013, the amendments were again postponed prior to first reading. On March 25, 2013, a substitute version of the ordinance amendments to Chapter 7 of the City Code for the one originally placed on the City Council agenda and subsequently tabled prior to first reading was introduced. First reading of the ordinance amendments occurred on April 1, 2013. Prior to second reading of the ordinance additional amendments the amendments to Chapter 7 were proposed and adopted. The ordinance amendments, as further amended, appear for approval of second reading on City Council’s September 3, 2013 agenda.
Ordinance Amendments
The Ordinance amendments are intended to address the following:
· Apply consistent citation throughout the Chapter for defined terms
· Use the correct terminology for captured value (i.e. “captured taxable value” not “captured assessed value”)
· Remove outdated provisions. Specifically, remove the reference to downtown development authority bonds. There are no bonds of this nature outstanding, nor have any ever been issued.
In addition the Ordinance addresses four substantive changes:
· Section 1:155. Removes the Mayor from consideration for appointment to the DDA effective following the November 2014 regular election. Section 4(1) of the Michigan Downtown Development Authority Act (Act 197 of Public Acts of 1975)(the “Act”) specifies that the composition of the Board of...
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