I just got out of a workgroup about a bill (HB 4967) which would allow
for new Tax Increment Finance (TIF) districts surrounding transit and
transportation stops. The
meeting, though, turned into an opportunity for the counties, community
colleges and libraries to bash TIF districts.
The bill, as introduced, would allow for a municipality to set up a TIF
district within 1/2 mile of a transit/transportation stop, invest in that district and capture growth as a result of the TIF
district. The counties and community
colleges complained that their members can’t opt-out of this. The libraries
want a straight exemption. I testified
that allowing this will result in the municipalities investing in the district
and having their growth dollars captured, while the other taxing jurisdictions
would reap the benefit of the new growth by opting out. The counties said that they are willing to
negotiate, but they want to opt-out then have the leverage in bargaining. The community colleges said that they can’t
afford this because of property tax reductions.
The libraries claimed that TIF districts are taking all their money for
economic development. I testified in
support of the bill with full regional cooperation and no opt-outs. Their will be another workgroup in two
weeks. Anyone want to come testify about this issue? Transit-oriented development is a proven way
to create jobs and growth in a community, and revitalize Michigan.
Apparently, the counties, community colleges and libraries don’t see it
that way.
36c52c79-bd1d-4950-b631-b6155d0de045|0|.0