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File #: 19-0236    Version: 1 Name: 3/4/19 LDFA FY2018 Council Update
Type: Report or Communication Status: Filed
File created: 3/4/2019 In control: City Council
On agenda: 3/4/2019 Final action: 3/4/2019
Enactment date: Enactment #:
Title: LDFA FY2018 Council Update
Attachments: 1. LDFA - AA Council Annual Report FY2018 (Rev 11.1.18).pdf
Title
LDFA FY2018 Council Update
Memorandum
The Local Development Financing Authority (LDFA) Committee would like to update City Council on the activities of Ann Arbor/Ypsilanti SmartZoneSM. The SmartZone Board has updates related to following areas:
* Strategic Planning and the 15-Year SmartZone Extension
* First Strategic Initiative Proposal
* Change in the Composition of the LDFA Board
In addition and for Council's reference, the FY2018 Highlights (Attachment 1) and LDFA Annual Report FY2018 are attached. The Annual Report was provided to City Council on December 3, 2018, but the FY2018 Highlights provide greater detail on LDFA activities and results.
Strategic Planning and the 15-Year SmartZone Extension
In 2017, the Ann Arbor/Ypsilanti SmartZone received a 15-year extension (2018-2033) from the State of Michigan. As part of the extension, the Adrian/Tecumseh SmartZone was added as a satellite to the Ann Arbor/Ypsilanti SmartZone to foster greater regional collaboration, and a stipulation was added that 10% of the LDFA annual funds must be spent in Ypsilanti.
The LDFA recently concluded an extensive strategic planning process aimed at developing a roadmap for the next 15 years. The strategic planning process took 18 months, during which we held 19 meetings, assembled a focus group of community leaders to solicit input on local high-priority needs, developed a decision support tool to aid in assessing potential opportunities' strategic fit, and brought in experts to identify key metrics for evaluating impact of potential projects.
During the process the Board established the following vision and mission statements to guide our efforts in the coming years:
Vision: Establish a sustainable tech ecosystem in the Ann Arbor/Ypsilanti region
Mission: Create a connected, collaborative region with a globally recognized culture of innovation and entrepreneurship
During its first 15 years, the LDFA successfully established infrastructure for support...

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