Title
Resolution to Approve the State Street Business Improvement Zone
Memorandum
Attached for your review and action is a resolution approving the State Street Business Improvement Zone ("BIZ") for a ten-year term.
Property owners in the proposed State Street Business Improvement Zone ("BIZ") area seek to establish the State Street BIZ to promote a thriving commercial district through projects and services that foster a welcoming, cohesive, and visually appealing business corridor. The proposed zone area is located entirely within the limits of the City of Ann Arbor, around the intersection of South State Street and East Eisenhower Parkway as shown on the attached map.
Michigan's Business Improvement Zone Statute, PA 120 of 1961, as amended ("BIZ Statute"), provides for the establishment of a BIZ as an economic tool for property owners to collaboratively fund projects and services through an assessment collected by the City of Ann Arbor Assessor and remitted to the BIZ for uses consistent with an approved Zone Plan.
To establish a BIZ, property owners within the proposed zone area must submit to the City Clerk a petition with an attached Zone Plan and parcel listing, signed by more than thirty percent of owners weighted by allocation of assessments in accordance with the proposed Zone Plan.
On June 17, 2024, more than thirty percent of eligible property owners submitted a petition and Zone Plan to the clerk in accordance with the BIZ statute. The Zone Plan assessment formula is based on the state equalized value of each assessed property, and the proposed projects include median enhancements, signage, landscaping, and marketing within the zone area.
In accordance with the statutory process, City Council shall hold a public hearing and vote to approve or reject the establishment of the State Street BIZ. If approved, the clerk will set an election of property owners in the zone area and the State Street BIZ will be established if more than sixty percent of...
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