The League was instrumental in the drafting and passage last week of a bill that would create a new mechanism for communities to partner with private investors to finance local infrastructure needs.  House Bill 5461 allows a local community to work with a private investor who would provide the necessary financial capital for a project and allow the investor to recover that investment, over time, through a tax capture from within a "defined benefit area".  This new tool is seen as one way to help finance transit and transit-oriented economic development projects.  The bill received final approval from the House and the Senate on the last night of session for the year and now makes its way to the Governor's desk.

Chris Hackbarth handles transportation issues for the Michigan Municipal league.  Chris can be reached at 517-908-0303, or by email at chackbarth@mml.org.

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