ADOPTED - SEPTEMBER 25, 2007

Agenda Item No. 17

Introduced by the County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION APPROVING A TAX SHARING AGREEMENT WITH THE

CITY OF LESLIE

RESOLUTION #07-216

WHEREAS, through Resolution #05-094, Ingham County Commissioners determined that it will not permit the capture of county property tax revenues in any new or expanded development district unless the Board of Commissioners approves a tax sharing agreement with the affected district and municipality; and

WHEREAS, the Ingham County Economic Development Corporation and its staff have reviewed the City of Leslie Local Development Finance Authority (LDFA) district and worked with the City of Leslie to develop a suitable tax sharing agreement for consideration by the County Commissioners; and

WHEREAS, the Ingham County Economic Development Corporation is recommending approval of a tax sharing agreement.

THEREFORE BE IT RESOLVED, that the Board of Commissioners authorizes the attached tax sharing agreement with the City of Leslie and its LDFA which will allow the capture of its property taxes from the expanded portion of that district based on the following conditions:

1.    The agreement meets the criteria outlined in the current County Policy on Tax Sharing Agreements which are specified in Resolution #05-094.

2.     The projects listed in the proposed tax sharing agreement, $8,500 for repairs to the site drainage and a treatment system for the city water supply and $78,000 for a metal chip management system to reduce burdens on the city sewers and waste treatment plant meet, the County policy requirements for defined infrastructure projects directly related to economic growth in the district as they are described. The total cost of these projects is projected to be $86,500.

3.     The County agrees to the capture of its property taxes from the expanded district area in the amount not to exceed $52,000 over ten years, provided that the captured funds are to be used solely for the financing and construction of the projects identified above.

4.    The agreement may be renegotiated at the request of the Leslie LDFA, if within the amount of funds the County has agreed to be captured, the Leslie LDFA identifies alternative or additional defined infrastructure projects it desires to construct and finance.

ADOPTED - SEPTEMBER 25, 2007

Agenda Item No. 17

RESOLUTION #07-216

BE IT FURTHER RESOLVED, that the Board Chairperson and the County Clerk are authorized to sign said agreement upon the recommendation of the County Controller and approval of the agreement as to form by the County Attorney.

BE IT FURTHER RESOLVED, that the County Clerk is directed to send a copy of this Resolution to the City of Leslie and the Leslie Local Development Finance Authority.

COUNTY SERVICES:  Yeas:  De Leon, Nolan, Copedge, Soule, Severino, Dougan

     Nays:  None      Absent:  None         Approved 9/18/07

FINANCE:  Yeas:  Weatherwax-Grant, Grebner, Hertel, Tennis, Dougan

Nays:   None        Absent:  Celentino        Approved 9/19/07