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CITY OF EATON RAPIDS

Per PA57 of 2018, MCL 124.4910(4), Downtown Development Authorities are required to hold two informational meetings per year. This notice is being sent to the governing body of each taxing jurisdiction:

Informational Meeting of the
DOWNTOWN DEVELOPMENT AUTHORITY

The 2019 – 2020 meetings will be held on:
Friday, October 11, 2019 – 7am
Friday, December 13, 2019 – 7am
Friday, January 10, 2020 – 7am
Friday, July 10, 2020 – 7am
Eaton Rapids City Hall
200 S. Main St
Eaton Rapids, MI 48827

This will be a meeting to Present information on the Tax Incremental Financing zone.

Questions – Call 517-663-8118 x8157

The Downtown Development Authority (DDA) is primarily a policy-making and decision-making entity that plans and manages the downtown area. The DDA is a corporate body recognized by State law and used as an important tool in downtown redevelopment. DDAs are a type of tax increment finance authority available to a city, village, or township.  Under tax increment financing, an authority captures a defined portion of the property tax revenues in a designated area.  Typically, a DDA captures the growth in tax revenue within a designated development area for use in financing a variety of public improvements in the area, often through the issuance of bonds.  The Michigan act says a municipality can create a DDA by resolution in order “to halt property value deterioration and increase property tax valuation where possible in its business district, to halt the causes of that deterioration, and to promote economic growth.” 

The DDA can utilize a variety of financing tools. Money created from the implementation of these tools can be used in a number of ways to bring about revitalization and economic development of the central business district. The DDA can work with volunteers from the local business association, citizens, the city and county to bring about the revitalization of the downtown area or depending on a set of criteria for qualification, a DDA may choose to initiate a Main Street Program.

The Eaton Rapids Downtown Development Authority shall exercise such powers and duties as provided and in accordance with the terms of Act 197 of the Public Acts 1975; including but not limited to the definition of a development area; the origination of a development plan; and, the implementation of a development program as provided in this act. For more information about the DDA, see state Act 197 of 1975 and Act 57 of 2018 as well as Chapter 8 ¼ and Chapter 19 ½ of the City Code.

If you are interested in becoming a member, please fill out the general application and submit it to the City Clerk.