ADOPTED - SEPTEMBER 27, 2005

Agenda Item No. 27

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 MERIDIAN TOWNSHIP DOWNTOWN DEVELOPMENT AUTHORITY DISTRICT

RESOLUTION #05-240

WHEREAS, the Charter Township of Meridian held a public hearing on September 6, 2005, for the purpose of adopting an ordinance creating the Meridian Township DDA District, which ordinance shall take effect sixty (60) days after the public hearing; and

WHEREAS, Ingham County property tax revenues in the Meridian Township DDA district may be subject to capture by a tax increment financing plan approved by the Meridian Township Board; and

WHEREAS, pursuant to MCL 125.1653(3), Ingham County may exempt its property taxes from capture in the Meridian Township DDA District by adopting a resolution to that effect within sixty (60) days of the September 6, 2005 public hearing, which the resolution takes effect when filed with the Meridian Township Clerk; and

WHEREAS, the resolution exempting Ingham County property taxes in the Meridian Township DDA District from capture by the Meridian Township DDA remains effective until a copy of a resolution rescinding that resolution is filed with the Meridian Township Clerk; and

WHEREAS, pursuant to MCL 125.1664(4), Ingham County may enter into agreements with the Charter Township of Meridian and the Meridian Township Board to share a portion of the captured assessed value of the proposed new DDA District; and

WHEREAS, pursuant to Ingham County Board of Commissioners Resolution #05-094, 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 #05-094.

THEREFORE BE IT RESOLVED, that pursuant to MCL 125.1653(3), Ingham County hereby exempts its property taxes in the proposed new DDA area of the Okemos area of Meridian Township from capture by the Meridian Township DDA.

BE IT FURTHER RESOLVED, that this resolution shall take effect when a copy is filed with the Meridian Township Clerk, and shall remain effective until a copy of a resolution rescinding this resolution is filed with the Meridian Township Clerk.

BE IT FURTHER RESOLVED, that Ingham County may hereafter enter into agreements with the Charter Township of Meridian and the Meridian Township Board to share a portion of the captured assessed value of the proposed new Meridian Township DDA District, in conformance with the policies set forth in Resolution #05-094.

ADOPTED - SEPTEMBER 27, 2005

Agenda Item No. 27

RESOLUTION #05-240

BE IT FURTHER RESOLVED, that upon entry into an agreement with the Charter Township of Meridian and the Meridian Township Board to share a portion of the captured assessed value of the proposed new Meridian Township DDA District, this resolution may be rescinded, and a copy of the rescinding resolution shall be filed with the Meridian Township Clerk.

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

     Nays:  None     Absent:  None        Approved 9/20/05

FINANCE:  Yeas:  Dedden, Swope, Hertel, Schor, Thomas, Dougan

   Nays:  None         Absent:  None       Approved 9/21/05