Ann Arbor’s Downtown Development Authority would like to see some changes it says would be beneficial to the future of the city.
During a City Council workshop on Thursday, the DDA proposed an expansion of its boundaries and a change in funding to better meet the needs of downtown.
The authority is funded through TIF funds, or Tax Increment Financing. It leverages tax funds for a defined district. The DDA would like to shift to a TIF gainshare model instead of the current cap on tax revenue.
Executive Director Maura Thomson says it would allow them to better serve the downtown community.
“We believe this is a good middle ground approach. It allows the DDA to respond to important needs downtown, and it also allows us to support an evolving downtown.”
The DDA’s development plan will be presented to the City Council in August.
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