REGULAR MEETING OF THE
MIDLAND CENTER CITY AUTHORITY,
TO TAKE PLACE ON WEDNESDAY, MAY 16, 2012, 3:00 P.M.
COUNCIL CHAMBERS, CITY HALL, MIDLAND, MICHIGAN
1. ROLL CALL
MEMBERS PRESENT: Jerry Deming, Joe Kozuch, Jon Lynch, Cliff Miles and Clinton Struthers
MEMBERS ABSENT: David Ginis, Christine Rapanos
STAFF PRESENT: Cindy Winland, Consulting Planner, Debbie Marquardt, Technical Secretary, Joe Valent, Chamber of Commerce, and one other.
2. APPROVAL OF MINUTES
It was moved by Miles and seconded by Kozuch to approve the minutes of the April 18, 2012 meeting. Motion was unanimously approved.
3. PUBLIC COMMENTS (unrelated to items on the agenda)
4. OLD BUSINESS
5. NEW BUSINESS
Mr. Miles stated that the preparation of the soil and planting at the Circle was well done and thanked Mr. Ginis.
a. Governance and Sustainability Committee Report
i. Goals and Actions update
Ms. Winland presented background information for the Tax Increment Financing Plan education and open house. The slides are summarized below.
Tax Increment Financing Plan:
· The proposal is to adopt the Tax Increment Financing Plan to supplement the CCA development plan.
A time line for the adoption of the TIF Plan is:
· June 20 the CCA Board recommends adoption of the TIF plan to Council.
· July 9 Council hears the recommendation to adopt TIF Plan as information only.
· Between July 9 and July 23 the CCA send notices to affected taxing jurisdictions offering opportunity to discuss at Council.
· July 23 Council hears anyone who wants to speak and sets the public hearing.
· The CCA and Council hold public hearings.
· Council considers TIF plan.
Tax Increment Financing Frequently Asked Questions:
· The Tax Increment Financing or TIF is a financing tool used by a district, the CCA, to capture revenues and reinvest them in the district.
· The initial “base” taxable value of the added portion is set upon establishment of a district.
· The tax increment is the tax collected on the increase in the value of a property above the base taxable value in the years following establishment of the TIF district. These are captured as revenue for the district.
CCA Proposed TIF Plan:
· 194 real property parcels.
· 236 personal property parcels (very likely to be eliminated as taxable).
· Total base taxable value of $37,800,000 ($33,900,000 real property)
· Capture would be limited to increases in taxable values as properties are developed or increase in taxable value.
How would properties benefit from being part of the CCA district?
· The establishment of a TIF positions the Center City area and Midland community to benefit from future improvements and reinvest the tax capture into the area.
Will it cost property owners more to be part of the Center City district?
· Incorporation into the CCA district would not affect taxes currently paid.
Would being part of the CCA district limit the ability to develop property?
· Being a part of the CCA district would not place any requirements or restrictions on property beyond what is already outlined in the City of Midland Planning and Zoning requirements.
Does this take money away from the general fund?
· The TIF capture takes what would normally be general fund dollars and uses the prescribed tax capture in the Center City district. These dollars will be spent on activities outlined in the Development Plan such as streetscapes, improved traffic flow and programming.
· On May 23rd the CCA Governance and Sustainability Committee invited all the board and committee members to talk about ways to educate property owners n the district. There is an information session at the Law Enforcement center to show how the TIF plans works and answer questions.
· The first tax funds will be collected in 2013/2014. A dollar amount of the anticipated collection must be shown in the Plan.
b. Marketing Committee Report
i. Goals and Action update
Mr. Valent stated that they discussed having the block captions drop off pamphlets to advertise the website with opportunities for deals and sponsors. They will also be working on a newsletter. ESPN radio will advertise for them at no cost. The website has everything it needs but there are still a few formatting errors. There is a link from the Midland Chamber website to direct people to the CCA website. Mr. Struthers stated that when it does become live it would be really good to make sure businesses in the Authority area have the art work for the logo. We should encourage them to put a link on their website to the CCA since it would encourage traffic from site to site. They would also like to put the CCA Plan and TIF presentation on the website.
c. Physical Improvements Committee Report
i. Goals and Actions update
Mr. Kozuch spoke and stated they are still lining up the funds for the two gateway signs. Ms. Winland had a conversation with Jan McGuire and there is opportuntiy to apply for additional funding for these. There is a required match of $12,000 in order to utilize the $24,000 committed from the Gerstacker Foundation.
Mr. Struthers asked if there were any questions and if they might want some conversations with business owners for making investments in the area. They should be aware of the opportunity of the investment.
7. REPORT OF THE CHAIRPERSON
Mr. Struthers thanked the board for their continued involvement.
8. REPORT OF THE STAFF
Reminder next Wednesday, May 23, at 8:00 a.m. for a kickoff meeting of the education process of the TIF program.
As there was no further business, the meeting adjourned at 3:35 p.m.
Cynthia E. Winland, AICP, PCP
MINUTES ARE NOT FINAL UNTIL APPROVED BY THE CENTER CITY AUTHORITY.