ADOPTED - JULY 26, 2005
Agenda Item No. 21
Introduced by the County Services and Finance Committees of the:
INGHAM COUNTY BOARD OF COMMISSIONERS
RESOLUTION TO EXEMPT COUNTY PROPERTY TAX REVENUES FROM CAPTURE IN THE EXPANDED EAST LANSING DOWNTOWN DEVELOPMENT AUTHORITY DISTRICT
RESOLUTION #05-184
WHEREAS, the East Lansing City Council held a public hearing for the purpose of adopting an ordinance expanding the boundaries of the East Lansing DDA District; and
WHEREAS, Ingham County property tax revenues in the expanded East Lansing DDA district may be subject to capture by a tax increment financing plan approved by the East Lansing City Council; and
WHEREAS, pursuant to MCL 125.1653(3), Ingham County may exempt its property taxes from capture in the expanded area of the East Lansing Township DDA District by adopting a resolution to that effect which resolution takes effect when filed with the East Lansing City Clerk; and
WHEREAS, the resolution exempting Ingham County property taxes in the expanded area of the East Lansing DDA District from capture by the East Lansing Township DDA remains effective until a copy of a resolution rescinding that resolution is filed with the East Lansing City Clerk; and
WHEREAS, pursuant to MCL 125.1664(4), Ingham County may enter into agreements with the East Lansing DDA and the East Lansing City Council to share a portion of the captured assessed value of the expanded area of the East Lansing DDA District; and
WHEREAS, pursuant to Ingham County Board of Commissioners Resolution #05-94, a copy of which is attached and incorporated by reference, it is the policy of Ingham County not to permit the capture of County property tax revenues in any new or amended DDA districts unless the Board of Commissioners has approved a tax sharing agreement with the DDA and the affected municipality, which tax sharing agreement must meet the conditions set forth in Resolution #05-94.
THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners, pursuant to MCL 125.1653(3), hereby approves the exemption of Ingham County property taxes in the expanded area of the East Lansing DDA District from capture by the East Lansing DDA.
BE IT FURTHER RESOLVED, that this Resolution shall take effect when a copy is filed with the East Lansing City Clerk, and shall remain effective until a copy of a resolution rescinding this Resolution is filed with the East Lansing City Clerk.
BE IT FURTHER RESOLVED, that Ingham County may hereafter enter into agreements with the East Lansing DDA and the East Lansing City Council to share a portion of the captured assessed value of the expanded area of the East Lansing DDA District, in conformance with the policies set forth in Resolution #05-094.
ADOPTED - JULY 26, 2005
Agenda Item No. 21
RESOLUTION #05-184
BE IT FURTHER RESOLVED, that upon entry into an agreement with the East Lansing DDA and the East Lansing City Council to share a portion of the captured assessed value of the expanded area of the East Lansing
DDA District, this Resolution may be rescinded, and a copy of the rescinding resolution shall be filed with the East Lansing City Clerk.
COUNTY SERVICES: Yeas: Celentino, Copedge, De Leon, Severino, Vickers
Nays: Schor Absent: None Approved 4/19/05
FINANCE: Yeas: Dedden, Swope, Hertel, Schor, Thomas
Nays: None Absent: Dougan Approved 4/20/05