|
Budget |
| | DOWNTOWN DEVELOPMENT AUTHORITY 2010-11 | | |
| DOWNTOWN DEVELOPMENT AUTHORITY |
| The DDA is a commercial district revitalization organization dedicated to improving the economic viability, beauty, and historic significance of the District. The thirteen-member Board is appointed by Council and submits its budget request for Council approval on an annual basis. Budget priorities are governed by public improvement needs, private investment, grant writing, business retention and revitalization programs and revitalization strategies as suggested by the National Main Street Program. |
|
|
|
|
|
| REVENUE |
|
| The DDA levies millage within its district, which is primarily the business corridor that runs from the northern Village limits on N. Milford Road, down Main Street, west on Huron Street, and south on South Milford Road. The district also includes property on Commerce Road west of Main Street, to the Prospect Hill shopping center. Properties within this district pay an additional millage rate of 1.747 mills. |
|
|
|
|
| The biggest source of revenue, however, is the Tax Increment Financing (TIF) capture, which is expected to generate approximately $437,000 in revenue in 2010. The TIF plan was approved by Village Council in 1997, the "base year" of the plan. Under the plan, tax revenue generated by growth in the TIF district is captured from various taxing units. The revenue can only be used within the district and for projects specifically identified in the plan. The Milford TIF captures taxes from Milford Township, Oakland County, and Oakland Community College, as well as the Village and DDA millage. |
|
|
|
|
|
|
| Revenue Summary: |
|
| Tax Levy |
$38,000 |
| TIF Capture |
$437,000 |
| Interest on Investments |
$5,000 |
| Appropriation from Fund Balance |
$13,725 |
| Total |
$493,725 |
| Capital Outlay: The redevelopment of the former Kelsey-Hayes remains a high priority project this year. Activities include purchase agreement negotiations, environmental remediation and marketing the site. Also a high priority is establishing downtown as a regional trailhead for ecotourism, the first project of which is connecting the bikepath to Main Street. The DDA will continue to study the feasibility of creating additional parking in the downtown area, and will hold the purchase position with regard to the gas station while other parties complete litigation. Efforts include supporting and staffing the Brownfield Redevelopment Authority (BRA), and employing consultants for architectural, environmental, design, and engineering services as well as legal counsel for real estate and financing issues. Last, capital improvements include installation of Phase II of the wayfinding system, assisting with the new Village entrance signs and supporting the effort to improve the Center Street crosswalk at Main. |
|
|
|
|
|
|
|
|
|
|
| Implemented in 2008, the Marketing and Promotions' campaign includes an extension of the existing contract for public relations, expansion/retooling of the downtown website for maximizing marketing and business recruitment, supporting Milford Business Association's downtown events, sponsoring two concert series, and considering co-operative advertising campaigns. Ongoing revitalization efforts consist of aiding businesses with municipal procedures, encouraging compatible architecture and site plans, assisting in Village zoning and planning issues, and maintaining a database which tracks current businesses/contacts and available space for lease/sale. Finally, the DDA will continue to support efforts by the Garden Club and Beautification Commission, and will absorb the Village's allocation for the right-of-way maintenance program, previously funded jointly with the DDA. |
|
|
|
|
|
|
|
|
|
| Expense Summary: |
|
| Wages and Fringe Benefits |
$104,500 |
| Operating Expense |
$163,950 |
| Reserve |
$10,000 |
| Capital Outlay |
$50,000 |
| Debt |
$165,275 |
| Total |
$493,725 | |
|
|
|
|
|
|
|
| DOWNTOWN DEVELOPMENT AUTHORITY 2010-11 |
|
|
| MILLAGE RATE HISTORY |
|
VILLAGE OF MILFORD
MILLAGE RATE HISTORY
TAXABLE
VALUE
GENERAL
REFUSE
YEAR
(in millions)
OPERATING
COLLECTION
STREET
TOTAL
2010
232.5
3.4931
2.0029
5.4960
2009
270.2
3.4931
2.0029
5.4960
2008
276.5
3.4931
2.0029
5.4960
2007
276.8
3.4931
2.0029
5.4960
2006
270.0
3.4931
2.0029
5.4960
2005
248.7
3.5674
2.0455
5.6129
2004
233.3
3.5674
2.0455
5.6129
2003
213.4
3.6306
2.0818
3.2124
8.9248
2002
199.2
3.7195
2.1328
3.2911
9.1434
2001
193.1
3.7674
1.8000
3.3335
8.9009
2000
177.9
3.8377
1.8469
3.3957
9.0803
1999
166.3
3.8934
1.8091
3.4450
9.1475
1998
156.9
0.6000
1.8695
2.4695
1997
144.7
9.5574
1.9200
3.9652
15.4426
1996
134.1
9.6413
2.1400
4.0000
15.7813
1995
127.2
9.6413
2.3139
4.0000
15.9552
1994
118.8
9.5025
2.2806
11.7831
1993
108.8
9.7738
2.3457
12.1195
1992
100.1
10.1288
2.4309
12.5597
1991
95.3
10.1288
2.4309
12.5597
1990
84.6
10.5113
2.5227
13.0340
Downtown Development Authority levies additional ... |
| ...MORE |
|
|
|
|
|
|
|
