INCENTIVE DESCRIPTION

State:	MI
Incentive Type:	Property Tax Incentives
Incentive Title:	Tax Increment Financing
Description:	1. TAX INCREMENT FINANCING AUTHORITY: Allows districts to use increased revenue to fund public projects in specified areas of a community. 2. BROWNFIELD REDEVELOPMENT: Tax increment financing for expenses of demolition, environmental clean up and other remedial actions needed to facilitate reuse of undesirable properties. 3.DOWNTOWN DEVELOPMENT AUTHORITY(DDA): Allows TIF to be used to fund public improvements in the downtown district and levy a limited millage for administrative purposes. CORRIDOR IMPROVEMENT AUTHORITY(CIA): Allows TIF funds to be used to help finance improvements to commercial corridors outside of the main commercial or downtown areas.
Eligibility Requirements:	1. Projects include public facilities, streets, plazas, pedestrian malls, improvements to public facilities, bridges, lakes, canals, utility lines, pipelines and other similiar facilities. Projects that do serve the public, are public facilities or occur outside the boundaries of the TIF district are not eligible. 2. Must be a designated brownfield property. 3. District created by the local city, village or township in accordance with guidelines established by the State of Michigan. 4. Authority may be created by any city, village or township in accordance with guidelines established by the State of Michigan.
Geographic Restrictions:	Designated Zones
Granting Authority:	Michigan Economic Development Corporation
	1. PA 450 of 1980 2. PA 381 of 1996

The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.