[9-11-2013]
This article shall be known as the "Development Plan and Tax
Increment Financing Plan Ordinance" for the Downtown Development Authority
of the Village of Stevensville, as amended.
[9-11-2013]
The Village Council hereby determines that it is necessary for
the best interests of the public to approve the amended Development
Plan and Tax Increment Financing Plan (hereinafter referred to as
the "plan") for the Downtown Development Authority of the Village
of Stevensville, which shall operate to halt property value deterioration,
eliminate the causes of that deterioration, increase property tax
valuation where possible in the Downtown District and promote economic
growth, pursuant to Act 197 of the Public Acts of Michigan, 1975,
as amended.
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The terms used in this article shall have the same meanings
as given to them in Act 197 or as provided in this section, unless
the context clearly indicates to the contrary, and shall be in addition
to the terms provided in Act 197.
Act No. 197 of the Public Acts of Michigan of 1975, as amended.[1]
The governing body of the Downtown Development Authority
of the Village.
The amount in any one year by which the current assessed
value as finally equalized of all taxable property in the development
areas exceeds the initial assessed value.
The Village Council of the Village of Stevensville.
The area described in § 10-22 of this chapter in establishing a Downtown Development Authority.
The Development Plan and Tax Increment Financing Plan of
the Downtown Development Authority of the Village of Stevensville
dated September 11, 2013, as presented to the Village Council for
public hearing and confirmed by this article, a copy of which has
been duly filed by the Village Clerk.
The Downtown Development Authority of the Village.
The Downtown District designated in this article as now existing
or hereafter amended.
The most-recently assessed value as finally equalized of
all the taxable property within the boundaries of the development
area at the time of adoption of the original ordinance establishing
the Development Plan and Tax Increment Financing Plan, being the values
of the assessment roll equalized in 1990.
The Downtown Development Authority tax increment financing account as established pursuant to § 10-37 of this article and in accordance with Act 197 to carry out the purposes of the Authority.
Each unit of government levying an ad valorem property tax
on property in the development area.
The Village of Stevensville.
[1]
Editor's Note: This Act is repealed by Act 57 of 2018, effective
January 1, 2019
[9-11-2013]
The Village Council hereby determines that the plan constitutes
a public purpose, meets the requirements set forth in Section 17(2)
of Act 197, is reasonable and necessary to carry out the purposes
of Act 197, and is in reasonable accord with the Village Master Plan.
The Village hereby determines further that the proposed method of
financing the development outlined in the plan is feasible and the
Authority has the ability to arrange the financing, and that public
services will be adequate to service the project areas as specified
in the plan, and that any changes in zoning, streets, intersections
and utilities are reasonably necessary for the projects specified
in the plan to carry out the purposes of the Plan and of Act 197 in
an efficient and economically satisfactory manner.
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The Development Plan and Tax Increment Financing Plan is hereby approved and adopted by this article pursuant to Act 197 of the Public Acts of Michigan, 1975, as amended, by Village Council for the Authority and is attached hereto and made a part of this article, which shall be filed by the Village Clerk and made available for review. Notwithstanding the periodic amendment of the schedule and budget contained within the plan by the Authority upon approval of the Village Council, the plan remains in effect until superseded by an amended plan and subsequently adopted by ordinance or as provided by § 10-28 pertaining to termination of the Authority.
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Commencing at the center of the intersection of John Beers Road
and DeMorrow Road, which is the northeast corner of Section 28, township
5 south, range 19 west; thence southerly along DeMorrow Road 170 feet;
thence westerly approximately 643 feet to Hickory Creek; thence southeasterly
along Hickory Creek approximately 370 feet to the southerly boundary
of the Village Square; thence west 303 feet; thence north 165 feet
to the boundary of the Village Square; thence westerly approximately
272.5 feet to the center of Mill Street; thence south along the center
of Mill Street to the center of Lawrence Avenue; thence west approximately
55 feet; thence south to the Schultz property approximately 187 feet;
thence west 200 feet to the center of St. Joseph Avenue; thence northwesterly
along St. Joseph Avenue approximately 45 feet to the southerly boundary
of the Mitchell property as extended; thence west approximately 176.9
feet; thence north to the center of Lawrence Avenue; thence west along
the center of Lawrence Avenue approximately 500 feet to the west line
of Lot 8 of Block 6 extended into Lawrence Avenue; thence north approximately
330 feet to the center of Kimmel Avenue; thence east approximately
99 feet to the center of Berrien Street; thence north along the center
of Berrien Street approximately 330 feet to the center of John Beers
Road; thence northerly to the north edge of John Beers Road at the
northeast corner of the intersection of John Beers Road and Fairview
Street; thence north along Fairview Street approximately 264 feet
to the lot boundary; thence easterly approximately 467 feet to the
westerly boundary of the railroad right-of-way; thence easterly across
the railroad right-of-way to the westerly side of Lot 16; thence northeasterly
along Lot 16 to the northerly tip of Lot 16; thence southwesterly
along the east side of Lot 16 to a point that is west of the northwest
corner of a lot called 23-00 tax identification, which corner is about
377 feet northerly along St. Joseph Avenue from the northwest corner
of its intersection with John Beers Road; thence east across St. Joseph
Avenue to the northwest corner of such lot; thence easterly about
239 feet to the northeast corner of such lot; thence south about 128
feet; thence westerly along the lot boundary about 186 feet; thence
southwesterly along the lot lines extended approximately 215 feet
to the center of John Beers Road; thence easterly along the center
of John Beers Road to the point of beginning.
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(a)
Within 60 days of the effective date of the original ordinance establishing
the Development Plan and Tax Increment Financing Plan, that being
November 15, 1990, the Village did cause the initial base year assessment
roll to be prepared. The initial base year assessment roll listed
each taxing jurisdiction in which the development area is located,
the initial assessed value of the development area on the effective
date of the initial ordinance and the amount of tax revenue derived
by each taxing jurisdiction from ad valorem taxes on the property
within the development area.
(b)
Copies of the initial base year assessment roll were transmitted
to the Village Treasurer, County Treasurer, Downtown Development Authority
and each taxing jurisdiction, together with a notice that the assessment
roll had been prepared in accordance with the original ordinance and
the Development Plan and Tax Increment Financing Plan attached to
the original ordinance.
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Each year within 15 days following the final equalization of
property in the development area, the Village shall cause to be prepared
an updated base year assessment roll. The updated base year assessment
roll shall show the information required in the initial base year
assessment roll and, in addition, the captured assessed value for
that year. Copies of the annual base year assessment roll shall be
transmitted by the Village to the same taxing jurisdictions as the
initial base year assessment roll, together with a notice that it
has been prepared in accordance with this article.
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The Treasurer of the Authority shall establish and maintain
a separate fund ,which shall be kept in a depository bank account
or accounts in a bank or banks approved by the Treasurer of the Village
of Stevensville, to be designated the "tax increment financing account."
All moneys received by the Authority pursuant to the plan shall be
deposited in the account. All moneys in that account and earnings
thereon shall be used only in accordance with the plan.
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Pursuant to Sections 14 and 15 of Act 197 of the Public Acts
of Michigan of 1975, as amended, the Village, Township and County
Treasurers shall, as ad valorem taxes are collected on the property
in the development area, pay that proportion of the taxes, except
for penalties and collection fees, that the captured assessed values
bear to the initial assessed value to the Treasurer of the Downtown
Development Authority for deposit in the tax increment financing account.
The payments shall be made on the date or dates on which the Village,
Township and County Treasurers are required to remit taxes to each
of the taxing jurisdictions.
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Within 90 days after the conclusion of each fiscal year, the
Authority shall submit to the Village Council and the State Tax Commission,
with copies to each taxing jurisdiction, a report on the status of
the tax increment financing account. The report shall include the
amount and sources of revenue in the account, the amount and purpose
of expenditures from the account, the amount of principal and interest
outstanding on any bonded indebtedness, if any, the initial assessed
valuation of the development area, the captured assessed value of
the development area, the tax increment received, the number of jobs
created as a result of the implementation of the Tax Increment Financing
Plan and any additional information required by the Village Council
or the State Tax Commission. The Village Clerk shall cause a copy
of the report to be published once in a newspaper of general circulation
in the Village.
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Upon completion of all projects listed in the schedule and budget
of the plan and upon dissolution of the Authority by the Village Council,
any surplus funds in the tax increment financing account shall be
paid by the Authority to the Village, Township and County Treasurers
to be refunded proportionately to the appropriate taxing jurisdictions.
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Section headings are provided for convenience only and are not
deemed to be a part of this article. Should any portion of this article
be determined to be unlawful or in conflict with applicable statutes
of the State of Michigan, the remaining portions of this article not
unlawful or in conflict shall remain in full force and effect. All
ordinances or parts of ordinances in conflict with this article are
hereby repealed.
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The Development Plan and Tax Increment Financing Plan may be
amended pursuant to Act 197 of the Public Acts of Michigan, 1975,
as amended.
[9-11-2013]
This article shall be effective immediately upon publication
in a newspaper of general circulation in the Village as required by
Act 197, Public Acts of Michigan, 1975, as amended.
