ADOPTED - APRIL 26, 2005

Agenda Item No. 7

Introduced by the County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION CONDITIONALLY APPROVING THE ESTABLISHMENT OF A JOINT LOCAL DEVELOPMENT FINANCE AUTHORITY (LDFA) TAX INCREMENT FINANCING AREA BY THE CITY OF EAST LANSING AND THE CITY OF LANSING, TO BE KNOWN AS THE LANSING REGIONAL SMARTZONE

RESOLUTION #05-108

WHEREAS, the Cities of Lansing and East Lansing in Ingham County are authorized under Michigan Public Act 281 of 1986, as amended, to create a multi-jurisdictional Local Development Finance Authority (LDFA) with the approval of the Ingham County Board of Commissioners; and

WHEREAS, both the City of Lansing and the City of East Lansing have notified the County of their intent to create a multi-jurisdictional LDFA to be known as the Local Development Finance Authority of the Cities of Lansing and East Lansing (“the Authority”), County of Ingham, Michigan, which will exercise its powers within an Authority District designated by the Cities (the “Authority District”), which Authority District is to be known as the Lansing Regional SmartZone, more particularly described as four separate areas; and

WHEREAS, the proposed Authority District would have geographical boundaries as follows:

A. The area in downtown Lansing bounded by Grand Avenue to the west, Michigan Avenue to the south, the Grand River to the east, and Shiawassee Street to the north.

B. The area in Lansing bounded by I-496 to the west, the Lansing Corporate City Limit to the north and northeast, Collins Road to the east, and Dunckel Road to the south.

C. The area in East Lansing bounded by Bogue Street to the west, Grand River Avenue to the north, Hagadorn Road to the east, and the Red Cedar River to the south.

D. The area in downtown East Lansing contained within the East Lansing Downtown Development Authority District as adopted by the East Lansing City

Council by Ordinance 635 on June 17, 1986, and amended by Ordinance 889 adopted on February 18, 1997; and

ADOPTED - APRIL 26, 2005

Agenda Item No. 7

RESOLUTION #05-108

WHEREAS, the County of Ingham agrees that the creation of the Authority, in partnership or cooperation with others, including Michigan Biotechnology Incorporated, Michigan State University, Michigan State University Foundation, and others, will help eliminate the causes of unemployment, underemployment, and joblessness, and will promote economic growth in the County; and

WHEREAS, State law provides that if the Authority is operating within a district which is also designated by the Michigan Economic Development Corporation (MEDC) as a “Certified Technology Park,” the County cannot opt out of having its ad valorem property taxes captured by the Authority.

THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners approves the establishment of the Local Development Finance Authority of the Cities of Lansing and East Lansing for the purpose of operating within the Lansing Regional SmartZone, but only if and when the MEDC has designated the Authority District as a Certified Technology Park under Public Act 281 of 1986, as amended.

COUNTY SERVICES: Yeas:  Celentino, Copedge, De Leon, Schor, Severino, Vickers

Nays:  None                    Absent:  None                 Approved 4/19/05

FINANCE:    Yeas:  Dedden, Swope, Hertel, Schor

Nays:  Thomas                         Absent:  Dougan          Approved 4/20/05