Local Development Finance Authority
The Local Development Financing Act, Public Act 281 of 1986, as amended, allows a city, village, or urban township to utilize tax increment financing to fund public infrastructure improvements. This tool is designed to promote economic growth and job creation. Communities across Michigan have utilized LDFA districts to extend sewer and water lines, to construct roads, and to service manufacturing, agricultural processing, and high technology operations.
The financing mechanism allows for the capture of the incremental growth of local property taxes over a period of time to fund public infrastructure improvements. By leveraging future tax increments, the LDFA is able to finance these public improvements, which can lead to new development opportunities within the community.
Staff contact for the LDFA: Jon Stoppels, City Manager, (989) 224-8944 ext. 220, jstoppels@stjohnsmich.com
Any other information required by MCL 125.4910(1) can be obtained at St. Johns City Offices, 100 E. State Street, Suite #1100, St. Johns, Michigan 48879.
Resolution Creating LDFA
TIF & Development Plan
Budget
Audit
Informational Meeting Minutes:
12/09/2019
08/21/2019