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HomeMy WebLinkAboutMichigan Avenue Corridor Improvment Authority Development and Tax Increment Financing Plan 2019 S l �G� Michigan Avenue 1111 Corridor Improvement j �� Authority� H � � Andy Schor, Mayor DEVELOPMENT AND TAX INCREMENT FINANCING PLAN Approved and Recommended by the Michigan Avenue Corridor Improvement Authority August 28, 2019 Lansing Imc Economic Development LEAP Corporation sLrowef tovether Development and Tax Increment Financing Plan EAST MICHIGAN AVENUE LANSING, MICHIGAN CORRIDOR IMPROVEMENT AUTHORITY DEVELOPMENT AND TAX INCREMENT FINANCING PLAN Michigan Avenue Corridor Improvement Authority Board Members Jonathan Lum, Chair Joan Nelson, Vice Chair Yvette Collins, Recording Secretary Elaine Barr, Treasurer Joseph Ruth, Board Member Scott Gillespie, Board Member Andrea McSwain, Mayoral Designee Board Facilitators— Lansing Economic Area Partnership (LEAP) Karl Dorshimer, Vice President of Economic Development Anum Mughal, Economic-Corridor Development Specialist Sub Committee Members Jonathan Lum Joan Nelson Elaine Barr Plan prepared with assistance from LEAPWWW.purelansing.comOffice: (517) 702-3387 Fax: (517) 702-3390 stronger together Michigan Avenue Corridor Improvement Authority 1 Development and Tax Increment Financing Plan Executive Summary In 2009 the Lansing City Council approved the establishment of the Michigan Avenue Corridor Improvement Authority (MACIA) with the goals to correct and prevent deterioration in the business districts, redevelop the city' commercial corridors and promote economic growth. This Authority will allow for the reinvestment of property tax growth back into the corridor, improving public facilities such as bus shelters, streetscape, pedestrian infrastructure, develop plans, and other activities to accomplish these goals, as enumerated per section 611 of PA 57 2018. In the effort of revitalizing the Michigan Avenue Corridor, there have been several studies completed soliciting input from residents, property owners, stakeholders, municipal staff and public officials. Based on these past efforts, MACIA board created a plan of action to improve the built and social environment of the corridor for all current and future residents and businesses. In development of this plan, the Authority identified several key principles that were used in creation of the plan and are supported by the City's Master Plan to transform the visually unappealing character of the corridor, to encourage pedestrians and market the quality of the adjacent neighborhoods as attractive, livable and sustainable community gateways. These principles are: • Traditional Neighborhood Design — Encouraging active lifestyles (walking or biking) • Transit-Oriented Design —Compact, walkable, pedestrian-oriented, mixed-use corridor. • Complete Streets — Safe transit for all users of streets (pedestrians, bicyclists, public transit users, and automobile drivers) This Development and Tax Increment Financing Plan arranges projects into three categories — public infrastructure, correct and prevent deterioration, and promote neighborhood aligned economic growth. In the first year, the Authority plans to make strides in each of these categories — Improvement of streetscape (bike racks, receptacles, and benches)to facilitate the use of public transit stations such as bus stops, continue to create an inventory of existing businesses, pursue grant funding for future development projects and continue to develop a communication strategy. The approval of the MACIA Development and TIF plan will allow for the Authority to begin its first steps in executing upon the vision set forth by the corridor's residents, businesses, and other stakeholders. Michigan Avenue Corridor Improvement Authority 2 Development and Tax Increment Financing Plan TABLE OF CONTENTS SECTION I: INTRODUCTION 3 General Overview Powers of the Authority History of the Michigan Avenue Corridor Background and Plan Need Plan Development Process SECTION II: DEVELOPMENT PLAN 8 Benefits of Corridor Improvement District & Authority Legal Basis of the Plan Development Plan Requirements Development and Tax Increment Financing Plan Schedule and Budget Intent to Update and Extend Duration or Terminate Plan Reimbursement of Excess Tax Capture Project Descriptions Other Sources of Financing SECTION III: TAX INCREMENT FINANCING PLAN 21 Description of Current Financial Position Duration of the CIA and Tax Increment Financing District Tax Increment Financing Plan APPENDICES A. Full Ordinance: Intent to Establish the MACIA B. Affidavit of Notice of Public Hearing on Creation of the MACIA C. Resolution Establishing the MACIA and Designation of the Development Area D. Powers of Authority E. Appointed Members to the MACIA Board F. MACIA By-laws G. List of Affected Properties by Parcel Identification Number H. Corridor Improvement District Map: Parcels Included within Michigan Avenue Corridor Improvement Authority District I. Projections and Taxing Jurisdiction Impact Tables o Estimated dollar amounts of captured assessed value and tax increment revenues (to be realized from projected increases in the assessed value during the next 15 years, as well as current millage levied by each jurisdiction,the anticipated growth in assessed value and the resulting tax increment revenues to be generated during the life of the plan) Michigan Avenue Corridor Improvement Authority 3 Development and Tax Increment Financing Plan Section I: INTRODUCTION General Overview As per the State of Michigan's Corridor Improvement Authority Act, Act 57 of 2018 (formerly known as Act 280 of the Michigan Public Acts of 2005), allowing cities, villages, and townships to create an authority to: "correct and prevent deterioration in business districts; to encourage historic preservation; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans and development areas in the districts; to promote the economic growth of the districts; to create a board; to prescribe the powers and duties of the board; to authorize the levy and collection of taxes; to authorize the issuance of bonds and other evidences of indebtedness; to authorize the use of tax increment financing; to prescribe powers and duties of certain state officials; to provide for rule promulgation; and to provide for enforcement of the act." With the adoption of PA 57 of 2018, many local governments have utilized a Corridor Improvement Authority (CIA) to stimulate economic revitalization of business districts in transition within their community. A CIA is created to establish a development plan for a previously established Corridor Improvement District (CID). This plan outlines improvements to public or private properties that will prevent further deterioration of the district and encourage new investment. These specific plans may be funded by tax increment financing, private or corporate donations, and other grants. The CIA is able to make strategic investments to the district by using tax increment financing. Through tax increment financing, a portion of the increase in the tax base resulting from the economic growth and development to facilities, structures or improvements within a development area is reinvested in the corridor and used for infrastructure improvements and facilities enhancement, thereby reinvigorating the development area and facilitating economic growth and development. The justification for capturing the taxes is that no new investment would have been made within the district without the establishment of the CID; therefore no taxes are lost by the interested taxing jurisdictions for projects not brought to fruition, and, physical improvements that are made along the designated corridor have a direct benefit to the surrounding properties and their potential taxable value. Powers of the Authority Detailed powers of the Corridor Improvement Authority board are listed in Appendix D per section 611 of Act 57 of 2018. The Authority will be able to carry out with the execution of the vision created for the Michigan Avenue Corridor as set forth by its Residents, Businesses, the City's Master Plan, and other Michigan Avenue Corridor Improvement Authority 4 Development and Tax Increment Financing Plan Stakeholders to improve the built and social environment of the corridor, to improve public facilities, encourage transit-oriented development, and conduct analysis and research. History of Michigan Avenue Corridor The City of Lansing grew from the decision to relocate the state capital from Detroit in 1847, further from British controlled Canada. Lansing was chosen after legislators were unable to decide among existing cities such as Ann Arbor, Marshall and Jackson. The city quickly grew as settlers moved to the new capital, with new settlements growing along the banks of the Grand River. Lansing would undergo steady growth following the completion of the current capitol building in 1878 and the extension of railroads through the city. Deliberate decisions were made to grow the city around the new capitol building, and terminate important streets, including Michigan Avenue on the new capitol dome. At the turn of the century, Lansing grew to become an industrial powerhouse. Following the founding of the Olds Motor Vehicle Company, the City became a major center for automobile manufacturing. Meanwhile, a few miles away, East Lansing grew around what was originally the Agricultural College of the State of Michigan, which eventually became Michigan State University. The university was the first land-grant institution in the United States and served as a model for other land-grant colleges around the country. The MSU campus was established on the banks of the Red Cedar River and connected to East Lansing across Grand River Avenue. During the early part of the 20th century an electric streetcar ran along Michigan Avenue and Grand River Avenue, connecting East Lansing and MSU to downtown Lansing and the capitol. Within a short time,the streetcar line was upgraded to an interurban line that connected Lansing and East Lansing with nearby towns, eventually reaching all the way to Owosso. After the rise of organized motordom and the state highway system, the line began to lose business, eventually discontinuing service in 1929. Over the past few decades, both Lansing and East Lansing have made significant efforts to diversify economically. New investments in walkable infill development can be seen in several places along the corridor, particularly close to downtown Lansing and across from the MSU campus. As nearby residential areas grew more densely populated, small business owners occupied newly built commercial buildings. Most of these business owners lived in the surrounding neighborhoods, and their patrons were neighbors,too.The rapid growth of the Michigan Avenue commercial corridor was mostly driven by nearby residential demand for groceries, meats, baked goods, and personal care services. Present Conditions Lansing today continues to be characterized by its historic neighborhoods and eclectic mix of small businesses. Downtown Lansing and the popular Stadium District are offering many new, Michigan Avenue Corridor Improvement Authority 5 Development and Tax Increment Financing Plan attractive urban buildings that are displaying local investment in the neighborhood. Although some investment has happened, the corridor is still incomplete in segments. There are areas where pedestrians face hostile environments,the result of streets that lack pedestrian amenities like coherent sidewalks and street trees. The corridor is often wide, high-speed, and with buildings that do not address the street. These problematic features create unwatched, uninteresting, even seemingly dangerous areas. The medical campus of Sparrow Hospital is a major employer and an important amenity in the region. The hospital operates the only dedicated pediatric emergency room, the largest adult emergency room in the region as well as the state-of-the-art Herbert-Herman Cancer Center. Despite the hospital's great attributes, the pedestrian experience along Michigan Avenue near these properties is not healthy, as the buildings are set back far from the street with large asphalt parking lots in front. Some of the commercial areas are considered an eyesore by the community. Even though some buildings are constructed close to the sidewalk, most of these are one or two stories and have architecture that is haphazard, generic and often built of inexpensive materials. Frequently these are commercial-style additions as new fronts to wood frame homes. The pedestrian realm is substandard, hindering comfortable pedestrian movement in the commercial areas. Sidewalks are discontinuous and interrupted by numerous curb cuts, and pedestrians often have little protection from sun, rain, and speeding traffic. Single-family homes are located both directly north and south of the corridor. These neighborhoods offer a variety of home sizes to cater to a wider range of family types and income levels. Although quaint, these neighborhoods are often majority tenant-occupied, and many need investments from property owners. Background and Plan Need The Lansing City Council adopted Resolution Number 2009-278 declaring its intent to create and provide for the operation of the Michigan Avenue Corridor Improvement Authority on July 27, 2009. Following a formal public hearing on August 24, 2009, the Lansing City Council adopted Resolution Number 2009-417 on November 2, 2009, which established the Corridor Improvement Authority and designated the associated Development Area. In the resolution establishing the Authority, it was determined that a CIA was necessary to: a) Correct and prevent deterioration in business districts b) Redevelop the City's commercial corridors c) Promote economic growth In 2018, the Lansing City Council appointed two new members to the MACIA board and reappointed four members. The board had its Annual Meeting in January 2019 where the elections were conducted, and bylaws were adopted by the board. In April 2019,the bylaws were adopted and approved by the City Council. Michigan Avenue Corridor Improvement Authority 6 Development and Tax Increment Financing Plan In June 2019,the board reviewed and revised the Development and TIF Plan involving the Capital Area Transit Association (CATA), Public Service Department of the City of Lansing, Jody Washington from Lansing City Council and Michigan State University Community Economic Development. PLAN DEVELOPMENT PROCESS In March of 2008, community, business, and municipal leaders from the City of Lansing, Lansing Charter Township, and the City of East Lansing formed an exploratory committee to consider the unique opportunity presented by the recent passage of the Corridor Improvement Act to revitalize the Michigan Avenue corridor from the Pere Marquette railroad crossing in Lansing down to Michigan's intersection with Grand River Avenue in East Lansing. The committee solicited stakeholder input through a series of surveys and three public work sessions and took a bus tour of the entire corridor with stakeholders to better understand on-the-ground conditions. Through this committee, and with significant support from the planning staff of all three municipalities, a Michigan Avenue Corridor Conceptual Development Plan was created. In order to provide context for further refinement and implementation, the committee wished to emphasize that an ideal plan would be driven by a bold vision, shaped by open processes, possessing a holistic perspective, and all while maintaining a sensitivity to scale at various nodes and sections of the corridor. This was, of course, not the start of planning efforts around Michigan Avenue. The City of Lansing's Department of Planning and Development brought on Deardorff Design Resources Inc. to put together the East Michigan Avenue Revitalization Study in 1994. There have been other similar studies over the years, and the conceptual development plan gained insight from the findings and recommendations of those past plans. In 2009,the momentum continued, as Michigan State University created a student research team to create a complete streets and transit-oriented development study entitled, "Transforming the Michigan Avenue Corridor." This complete street classification and analysis furthered the conversation about the corridor's needs and made the case for the development of a joint Corridor Improvement Authority via the three municipalities. From late spring to the end of 2009,the City of Lansing, Lansing Township,and City of East Lansing each established a Michigan Avenue Corridor Improvement Authority, with the intent to implement a joint Development and Tax Increment Financing (TIF) Plan. All three municipalities also equipped their newly formed CIAs with a board made up of local business or property owners, residents, and other key stakeholders. After a slight lull in the conversation, the Mid-Michigan Program for Greater Sustainability, a program funded by the U.S. Department of Housing and Urban Development (HUD), Michigan State Housing Development Authority (MSHDA) and local partners, picked up the effort with a renewed vigor.Administered by Tri-County Regional Planning Commission, this program brought thousands of people to the table to talk about the Michigan Avenue and Grand River Avenue Michigan Avenue Corridor Improvement Authority 7 Development and Tax Increment Financing Plan corridor as the main street and economic backbone of the Lansing area. This extensive community engagement effort began in 2013 and included two 8-day charrettes, which brought residents, property owners, stakeholders and technical experts, municipal staff, public officials, and the planning team together to provide their ideas and recommendations. The result of this massive public engagement was a visually friendly 150-page document entitled, "The Capitol Corridor: A Regional Vision for Michigan Avenue / Grand River Avenue," which, in 2014, was made available online with hard copy books circulated through the stakeholder group as well. Concurrent with that process, the Lansing Economic Area Partnership (LEAP) began re- engaging the CIA stakeholders on the topic of implementing a joint CIA Development and TIF Plan. Based on the stagnation that was witnessed in recent years, LEAP and the City of Lansing's CIA Board decided to push ahead with a Development and TIF Plan that, while being confined to the limits of the City of Lansing's jurisdiction alongthe corridor, learns from the many past studies referenced above, and looks to engage Lansing Township and East Lansing in continued conversation as the plan's objectives begin to be implemented with new tax capture revenue. The Under the Bridge project is an example of the regional efforts and collaboration taking place along Michigan Avenue. The art and lighting project, scheduled to be completed in Spring 2017, was organized by the Michigan Avenue Corridor Improvement Authorities of Lansing, Lansing _ 'k - Township and East Lansing. The crowdfunding campaign raised over $100,000 from private donors and contributions from the State and local governments to fund the project at the US-127 overpass where it intersects with Michigan Avenue. The bridge sits at a pivotal point between the cities of Lansing and East Lansing and will be transformed into a vibrant gateway. A grocery store and a hotel are planned for the 600 block of East Michigan Avenue, part of a mixed-use development slated to open by the end of 2020. The $40 million project will enhance the quality of life downtown and raise standards for existing properties. The market, hotel and dozens of one- and two-story residential units are planned for a 4.15-acre site on the southeast corner of Michigan Avenue and Larch Street that was once the location of Brogan's Tire Center and the Ballpark Mobil gas station, among other properties. It is important to make the most of the current focus on revitalization along the corridor by implementing the efforts proposed in this plan. Efforts will promote neighborhood aligned growth and help unite the miles-long Michigan Avenue corridor with investments in infrastructure and improvements that reflect its importance to the region and the diversity of the communities that rely on it. Michigan Avenue Corridor Improvement Authority 8 Development and Tax Increment Financing Plan Section II: DEVELOPMENT PLAN Benefits of Corridor Improvement District and Authority The Michigan Avenue Corridor Improvement Authority recognizes the benefits to the district and to the City of Lansing. This Development Plan is a formal document to outline the priorities and goals of the Authority. The Corridor Improvement District (CID) Proposal and request to create a Corridor Improvement Authority states that a CID: (a) Utilizes TIF to complete improvement projects according to the approved TIF plan while leveraging other dollars such as earned income and private, state, federal and philanthropic monies for district improvements (b) Generates a clear plan to improve the district, implemented by an empowered neighborhood stakeholder-government partner framework — a proven national method for success (c) Creates access to additional programs and incentives to businesses such as special approval of liquor licenses within city development districts (d) Establishes a cohesive district which fosters business investment from existing entrepreneurs and attracts complementary new business growth (e) Encourages job creation, which produces more jobs for neighborhood residents and generates additional income tax revenue (f) Encourages surrounding property improvements, increasing values of neighboring properties thus generating more property tax revenue (g) Promotes greater interest in mixed-use development, broadening business location and residential housing options and increasing the tax base (h) Brings more people into the district to shop for goods and services, thus generating more repeat customers for neighborhood businesses and increasing sales tax revenue (i) Stimulates new commercial development in a neighborhood where additional private sector investment opportunity exists (j) Improves the climate of community and economic development for residents and businesses alike (k) Contributes to a healthy neighborhood which has the potential to decrease crime or the perception of crime, and increase public safety Michigan Avenue Corridor Improvement Authority 9 Development and Tax Increment Financing Plan (1) Creates an improved commercial core and public space that is appealing to neighborhood residents encouraging "pride in place" and visitor attraction (m) Retains and empowers residents who can access jobs, goods and services in a walkable or transit-oriented neighborhood (n) Creates an outreach and coordination mechanism at the neighborhood level for City financed projects (o) Creates a public-private partnership with the City that enhances community neighborhood input to improve the district Legal Basis of the Plan This Development and Tax Increment Financing Plan is prepared pursuant to requirements of Sections 125.4618 and 125.4621 of the Tax Increment Financing Act, Public Act 57 of 2018, as amended. It addresses the geographic area of the Corridor Improvement District as established by the Lansing City Council. A descriptive map, resolutions establishing the CID and forming the CIA and Ordinance are contained in the appendices. Development Plan Requirements This section of the Development Plan provides specific information required in Section 125.4621 of the Tax Increment Financing Act. It consists of information requested in subsections 2(a) through 2(r): (a) The designation of boundaries of the development area in relation to highways, streets, streams, or otherwise. The CIA boundary is the same boundary established by the Lansing City Council Resolution Number 2009-279 adopted on July 27, 2009, with the proposed area encompassing 500 feet north and 500 feet south of the centerline of Michigan Avenue, and from the eastern edge of the Pere Marquette Rail Line in the City of Lansing to the west to the Lansing City limit to the east. A copy of the boundary map is contained in the Appendix H. (b) The location and extent of existing streets and other public facilities within the development area, designating the location, character, and extent of the categories of public and private land uses then existing and proposed for the development area, including residential, recreational, commercial, industrial, educational, and other uses, and including a legal description of the development area. Michigan Avenue Corridor Improvement Authority 10 Development and Tax Increment Financing Plan Existing Land Use of the East Michigan Avenue Corridor .�to�>'a Eland-Rtve7A,ve,, ■ , Existing Land Use Sa io +rrll Multi Family - ag`r z � E-Oakland-Ave Single Family y zI*�i C� .ti ■E-G i - ip&Transient Quartors c■I z� • ; E Saginaw-St—� Comrnercial R it a a °U WG�anaRj - Public � E-Shia assee-St y� v ° InctituGonal t4 z rZ ti I ILL a d Z Pat - Industrial ra .4 z St ,r w i j E-Mic�gan,Av,���.�,.,.�� higan Aver_- vVarehousing in � '� >, X Uj- Q d t' - Prospect Transportation ��'o a EL _ El 1JJ .. - - - utilities •��• �m�j m� � f/? ' o �• 0. x ° 5trearns •�i�is Vi ■ X • H I�St i � �• Parks -_�-E I496-CD F/rq9 �> Vacant a E Hazel St v Walsh X C �0 ° _ j�e��lrWay oit) rlPla— - Source:Design Lansing 2012 Comprehensive Plan Future Land Use of the East Michigan Avenue Corridor Future Land Use Classifications 2 Q mG a`n'dTR v'e'r�Ave �y _ Open Space-Dedicated Park _ open Space-Quasi-PublicW iity z U w Sa9�0 .. - E Okland�Ave Low-Density Residential r��Z ?�i � �f �'`+ E G 7 y ~ d Medium-Law-Density Residential Medium-Density Residential-Urban � ��a C rrn m Q E Sa in Medium-Density Residential-Suburban > y Q y R%Ve _ Residential Corridor M E Shiawassee-St— t mILL Downtown Mixed-Use Center:Core Z Z ri m Z _ Downtown Mixed-Use Center:Edge St Z Z Z —Community Mixed-Use Center St I * E jM�h*ir'g�nyA �lr ���� .hi an=Ave District Mixed-Use Center y N I i� Neighborhood Mixed-Use Center o l•Q -� Prospect \ E Kalamazoo` _ Urban Mixed-Use Corridor `o, m y J ■r p iSLburban commercial tj y : o ■ x N Institutional ye. _ Research and Development ■ E 1496•C^D apF'49 6 Light Industrial m �k _ General Industrial C E-WazehSt m Walsh -' UR Open Space-Potential Natural Areas Y8 ® o { (o D allxva Community Facility = De Y vbria ls�i9erR..r—. --- Source:Design Lansing 2012 Comprehensive Plan Michigan Avenue Corridor Improvement Authority 11 Development and Tax Increment Financing Plan The CIA boundary is the same boundary established by the Lansing City Council Resolution Number 2009-278 adopted on July 27, 2009. More detailed information about the parcel area, including parcel numbers, classes and property addresses is in the Appendix G. (c)A description of existing improvements in the development area to be demolished, repaired, or altered, a description of any repairs and alterations, and an estimate of the time required for completion. A description of specific improvement projects that are contemplated within the development area is contained in the project schedule and budget at the end of this section. The cost and time estimates included in the project schedule and budget are estimates only and may be revised by the Authority board without amending this Plan. (d) The location, extent, character, and estimated cost of the improvements including rehabilitation contemplated for the development area and an estimate of the time required for completion. A description, including cost estimate and schedule of implementation, for each improvement project that will be completed within the area is contained in the project schedule and budget at the end of this section. The cost and time estimates included in the project schedule and budget are estimates only and may be revised by the Authority board without amending this Plan. (e)A statement of the construction or stages of construction planned, and the estimated time of completion of each stage. A description, including cost estimate and implementation schedule for each specific improvement project that will be completed within the area is contained in the project schedule and budget at the end of this section.The time estimates included in the project schedule are estimates only and may be revised by the Authority board without amending this Plan. (f) A description of any parts of the development area to be left as open space and the use contemplated for the space. The Corridor Improvement Authority recognizes the value of open space and green space in an urban landscape and will look to incorporate green elements and maintain or beautify existing open space, when it has natural or community-oriented merit. The planned Red Cedar redevelopment is a prime example of this, in that the open space of the public park will be heavily invested in to connect to East Lansing and Michigan State University's campus. Michigan Avenue Corridor Improvement Authority 12 Development and Tax Increment Financing Plan Other public areas, such as medians and park land, will also be targeted for green infrastructure and non-motorized transit-oriented investments, among other things, as density grows through infill and other urban redevelopment projects. Opportunities for activation of open space within the corridor will be considered on a case-by-case basis, with the CIA poised to provide input and support based on aforementioned corridor plans and the projects to be financed by this Development&TIF Plan. However, as of the adoption of this Development Plan, there are no currently open spaces targeted for development of structures or buildings by the Authority; all open space is currently intended to remain open. (g)A description of any portions of the development area that the authority desires to sell, donate, exchange, or lease to or from the municipality and the proposed terms. A description, including real estate contemplated for acquisition and/or disposition (including cost estimates, terms and schedule for implementation) for each specific improvement contemplated within the development area is contained in the project schedule and budget at the end of this section. There is no known or identified property or real estate as of the adoption of this Plan that is necessary to complete the streetscape improvements set forth in this Plan. However,the CIA may wish to sell, donate, exchange, or lease property in the future. The Authority board reserves the right to sell, donate, exchange or lease property in the future to the extent determined necessary by the Authority board without further amendment to this Plan, but in compliance with the requirements of the Act. (h) A description of desired zoning changes and changes in streets, street levels, intersections, traffic flow modifications, or utilities. Transportation Recommendations s" ' a z Y o ■ ■ ■ ■ k ■ ■ I�--i Improve Streetscape y Z 3 ■ ■ Oakland Ave E G m 2 , l— W m Reconstruct N ? �:�a�L s a' ESagina St aesthetic treatments Evaluate0ne-WaytoTwo-Way 3 c c ■ ■ R g —Z—"—�' E ShiawasseeSt—�' ° Conversion U �•. ■ ■ c m E 2 Z c m —Z It- - �. ■ ■ a f c7 Z ....... Implement Access Management rant ; , --z-- ———— —a— — -- et i■ y ■ Implement Road Diet an 't ■ 1 1 > —Prr ospe �— — Future Bus Rapid Transit/Streetcar/ f=[ o a <: 10 L' -- ------- --E kal'amazoo• Light Rail/Frequent Bus/Express Bus T,T-a ■� —�^ �— [3[ U .9 Future Frequent Bus/Express Bus s��°s E 1496 CU aAi �lggs Major Intersection Improvement E HazeiAreasI1_1 mi ! ..[...,h. Source:Design Lansing 2012 Comprehensive Plan Michigan Avenue Corridor Improvement Authority 13 Development and Tax Increment Financing Plan Zoning changes, street layout adjustments, street level modifications, intersection and utilities changes are not contemplated at this time; except as may be proposed in the project schedule and budget at the end of this section. Design Lansing and form-based code will potentially lead zoning discussions in the future. The Board will make recommendations during City planning processes and advocate for zoning that lends itself to the dense commercial development that is a priority of the CIA. (i) An estimate of the cost of the development, a statement of the proposed method of financing the development, and the ability of the authority to arrange the financing. A description, including cost estimate for individual projects and method of financing is contained in the project schedule and budget at the end of this section. The total cost of completing all activities, projects and improvements proposed by the Authority Development Plan and to be undertaken and financed by the Authority is estimated to be $1,762,300 over the 15-year course of this plan and is inclusive of administrative expenses and contingencies. A breakdown of the estimated cost and estimated schedule for completion for each of those activities and projects is set forth in the project schedule and budget at the end of this section. The scope of the items and improvements and the projected schedule for completion for those items and improvements described in this Plan are estimates only and may be revised from time to time by the Authority board without amending this Plan; provided, however, that such items and improvements must be completed within the term of this Plan, unless the term is amended in accordance with Act 57. Further, estimated costs for any items or improvements may be increased or decreased by the Authority board without amending this Plan based upon then-current preconstruction or pre-bid estimates of cost, as well as revised estimates of cost resulting from the receipt of bids. All operating and planning expenditures of the Authority and the City, as well as all advances extended by or indebtedness incurred by the City or other parties for improvements identified above that have been completed, are in progress, or yet to be completed, are expected to be repaid from tax increment revenues.The costs of the Plan are also anticipated to be paid from tax increment revenues as received. The Authority expects to finance these activities from any one or more of the following sources: o Future tax increment revenues o Interest on investments o Donations received by the Authority o Proceeds from State, Federal and Other Grants o Proceeds from any property building or facility that may be owned, leased, licensed, operated or sold by the Authority o Special assessments as may be approved by the City Council o Fees, memberships, sponsorships o Public and private foundation grants Michigan Avenue Corridor Improvement Authority 14 Development and Tax Increment Financing Plan The proceeds to be received from tax increment revenues in the CID plus the availability of funds from other authorized sources will be sufficient to finance all activities and improvements to be carried out under this Plan. At this time, there is no intention by the Authority to issue bonds or to request that City Council issue bonds for qualifying activities; should that change, the Authority will comply with all requirements under the Act, including amendment to this Plan if necessary. (j) Designation of the person or persons, natural or corporate, to whom all or a portion of the development is to be leased, sold, or conveyed in any manner and for whose benefit the project is being undertaken if that information is available to the authority. The planned developments are designed to benefit all businesses, property owners, and residents of the corridor. Information concerning the names of specific persons for whom benefits may accrue are unknown at this time, as there is no intention to sell or transact any portion of the Development to any person at this time. (k) The procedures for bidding for the leasing, purchasing, or conveying in any manner of all or a portion of the development upon its completion, if there is no express or implied agreement between the authority and persons, natural or corporate, that all or a portion of the development will be leased, sold, or conveyed in any manner to those persons. The CIA Board has no publicly announced commitments for the acquisition or sale of property as it has no property under supervisory responsibility of the CIA at this time.The CIA in conjunction with the City may discuss policies to explore acquisition of tax reverted property should properties within the CIA District become available for acquisition by the City through tax reversion procedures. It is not a priority of the CIA to acquire private property unless it advances a public improvement project or is necessary for economic development purposes. Any property acquired or held by the CIA, to be sold, leased, or otherwise conveyed to private development interests shall be sold, leased, or otherwise conveyed in accordance with local municipal policy, terms, and conditions to be established by the CIA, and state law, if applicable. At the time of the adoption of this plan, no private parties have been identified to whom land for redevelopment will be sold, leased, or otherwise conveyed; however, the CIA may convey such property to presently undetermined private parties for redevelopment for appropriate uses. (I) Estimates of the number of persons residing in the development area and the number of families and individuals to be displaced. If occupied residences are designated for acquisition and clearance by the authority, a development plan shall include a survey of the families and individuals to be displaced, including their income and racial composition, a statistical description of the housing supply in the community, including the number of private and public units in existence or under construction, the condition of those units in existence, the number Michigan Avenue Corridor Improvement Authority 1s Development and Tax Increment Financing Plan of owner-occupied and renter-occupied units, the annual rate of turnover of the various types of housing and the range of rents and sale prices, an estimate of the total demand for housing in the community, and the estimated capacity of private and public housing available to displaced families and individuals. Based on 2010 Census data, the estimated population of the City of Lansing's Michigan Avenue commercial corridor district is 6,455 people. There are no occupied residences targeted for acquisition or development under the Plan, thus no relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. (m)A plan for establishing priority for the relocation of persons displaced by the development in any new housing in the development area. There are no occupied residences targeted for acquisition or development under the Plan, thus no relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. (n) Provision for the costs of relocating persons displaced by the development and financial assistance and reimbursement of expenses, including litigation expenses and expenses incident to the transfer of title, in accordance with the standards and provisions of the uniform relocation assistance and real property acquisition policies act of 1970, Public Law 91-646, 84 Stat. 1894. There are no occupied residences targeted for acquisition or development under the Plan, thus no relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. (o)A plan for compliance with 1972 PA 227, MCL 213.321 to 213.332. There are no occupied residences targeted for acquisition or development under the Plan, thus no relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. (p) The requirement that amendments to an approved development plan or tax increment plan must be submitted by the authority to the governing body for approval or rejection. In accordance with the Act 57, the Authority reserves the right to amend this Plan as necessary to add new improvement projects, extend the duration of the Plan, or for other lawful purposes. Any amendments to the Plan shall be approved by the Authority and the City Council in accordance with the requirements of Act S7. The Authority maintains its ability to administratively prioritize and utilize funds for projects fitting the goals outlined in this plan without formal amendment to this plan. Michigan Avenue Corridor Improvement Authority 16 Development and Tax Increment Financing Plan (q)A schedule to periodically evaluate the effectiveness of the development plan. An annual report shall be submitted to each entity for which taxes are captured addressing use of CIA funds during the past budget year, status of implementation of the program of work set forth in the Development Plan and proposed CIA activities for the ensuing year. Any changes from this Development Plan will be addressed and changed by action of the City Council as part of this annual review of CIA activities. Amendments to the Development Plan and Tax Increment Financing Plan would be completed in compliance with notification and public hearing procedures of Section 622 of Act 57 prior to action of the City Council. (r) Other material that the authority, local public agency, or governing body considers pertinent. This Development Plan contemplates the use of tax increment financing. The Authority will comply with the City Council's Policy on Corridor Improvement Authorities and Districts, as amended. Development and TIF Plan Schedule and Budget The duration of this plan is a 15-year period. The following pages include tables where specific projects that address CIA goals are described, budgeted, and scheduled. The schedule begins in 2019 and ends in the year 2034 (15 years). Projects have been listed based on estimated time of completion. Intent to Update and Extend Duration or Terminate Plan On or before the year 2034, the authority will consider action to update and extend the duration of the Development and Tax Increment Financing Plan or make recommendations to terminate the plans and rescind City Resolution #2009-417, which created the authority and designated its Development Area. Rescission of the resolution would dissolve the authority and eliminate the accompanying tax increment financing district; provided, however, that in accordance with Act 57, the authority shall not be dissolved if there is outstanding indebtedness of the authority. Project Descriptions Information was gathered through a variety of initiatives regarding what the Michigan Avenue CIA would undertake. The bulk of proposed investments are directly tied to the findings and recommendations of either the Michigan Avenue Corridor Conceptual Development Plan developed in 2008 or the Complete Streets Study done in 2009. These projects have been broken up into three goals summarized by the mission statement of the CIA: "The Michigan Avenue Corridor Improvement Authority shall provide economic resources to improve and maintain public infrastructure, correct and prevent deterioration, and promote neighborhood aligned economic growth". Michigan Avenue Corridor Improvement Authority 17 Development and Tax Increment Financing Plan These three goals have been occurring in different capacities. It is the intention of this plan to outline what the CIA aims to directly implement and which activities it will provide support toward existing efforts. While the CIA does not intend to fund major infrastructure projects, funds will be prioritized around accentuating and enhancing new and existing infrastructure, in line with the City of Lansing's Capital Improvement Plan and conceptually focused on enabling multi-modal transit, complete streets and creating sense of place. A description, including cost estimate and schedule of implementation, for each improvement project that will be completed within the area is contained in the project schedule and budget at the end of this section. Public Infrastructure: Many of the plans, especially i r'd f "Transforming the Michigan Avenue Corridor: a complete A. streets and transit-oriented P :- � development study' and �►J `� 1 CATA's ongoing d1 transportation studies, call for extensive and dynamic H ' improvement in infrastructure to support motorists, bus riders, bikers \, 4 and pedestrians alike. The Michigan Avenue Corridor Improvement Authority . � recognizes the importance of ` !r functioning infrastructure y i 4 and complete streets to serve 4 T both the businesses and ® residents along the Michigan Avenue Corridor. It is the intention of the CIA to support the efforts of the Capital Area Transportation Authority (CATA), the city of Rachel Wilke,Intern-Lansing Planning Department Lansing and the Tri- County Regional Planning Commission. The CIA will be a platform to offer design input based off previous community visioning work that was part of the planning processes, some of which are ongoing. The CIA proposes to directly support infrastructure upgrades that improve the attractiveness of the corridor and provide for a cohesive, multi-modal user experience.This entails the installation of benches, trashcans, landscaping, pedestrian lighting, median treatments, bicycle racks, public art, banners, way finding signage and other needed Placemaking elements. The CIA will work Michigan Avenue Corridor Improvement Authority 18 Development and Tax Increment Financing Plan with the City of Lansing to identify maintenance and upkeep solutions.The CIA seeks to empower residents in taking ownership of their community by developing guidelines for temporary Placemaking installations that would or would not impede of the public right of way and facilitate communication between the city and residents. The CIA will consider Public Infrastructure projects that improve the quality of life and business friendliness of the corridor while leveraging the partnerships and assets within the community. Correct and Prevent Deterioration: Reversing Deterioration along the corridor will lead to the necessary outcomes of increased property values, increased private investment, an improved user experience, as well as an increase in community pride. Lansing is a certified Redevelopment Ready Community (RRC). Redevelopment Ready Communities° (RRC) is a certification program supporting community revitalization and the attraction and retention of businesses, entrepreneurs and talent throughout Michigan. The CIA acknowledges the benefit of cohesive planning, visioning and marketing identified in the RRC Best Practices and proposes to correct and prevent deterioration through leading the following proactive activities. CIA staff will inventory current properties, engage with current property owners and assist with marketing available properties, when appropriate. The CIA will work with the Lansing Economic Area Partnership (LEAP) to identify and pursue city, state and federal incentives and any other applicable grant programs that align with the goals of the Corridor Improvement Authority. The CIA proposes to offer incentives, if funding is available,to assist with building improvements. For example, a fagade grant program is planned to help businesses along the corridor address the costs associated with preserving and/or restoring aging building fagades. To protect existing corridor assets, CIA proposes to support and strengthen commercial code compliance and coordinate with the City of Lansing and community-based organizations on events to clean and beautify the corridor. Promote Neighborhood Aligned Economic Growth: The CIA will act as organizational lead, in partnership with the City of Lansing and Lansing Economic Area Partnership, on community engagement for the redevelopment of the corridor. The CIA understands the importance of a strong foundation set in partnerships and shared vision. The CIA will adopt a public participation plan that will facilitate frequent stakeholder input. For the health of existing and new businesses, the CIA will develop a marketing and branding plan for the corridor. The CIA will work in conjunction with the Small Business Development Center (SBDC), Lansing Economic Area Partnership (LEAP) and the Lansing Regional Chamber (LRC) in supporting new and existing businesses through one on one consultation, referral to resources and hosting business to business events. This may include connection to the existing incubator network, or the establishment of new incubators/ accelerators, if needed. The CIA will work closely with community-based organizations and organized neighborhood groups on community engagement and planning for projects on corridor, including development of strategies for transition between commercial and residential. Michigan Avenue Corridor Improvement Authority 19 Development and Tax Increment Financing Plan In 2012,the Michigan Office of Urban and Metropolitan Initiatives commissioned U3 Ventures to conduct the Michigan Anchor Institution Opportunity Analysis of eight cities across Michigan, including Lansing. The resulting report documents the impact of Michigan State University, Lansing Community College, and Sparrow Health System on the Lansing region and Michigan Avenue Corridor. The CIA will continue the work of the Anchor Initiative by developing a strategy to engage business, non-profit and governmental agencies that offer historic and future employment, influence and the ability to change, and benefit from, the corridor. The CIA, although not establishing a joint district at this time, will potentially continue to work in conjunction with Lansing Charter Township and the City of East Lansing to work towards a shared vision for the entirety of corridor. The following tables summarize the various projects and activities proposed, including an estimated cost and completion date for each. As noted previously, the costs and completion dates are estimates only and are subject to change without further amendment to this Plan. These dates and estimates may vary because of private investment decisions, financing opportunities, market shifts or other factors. Table 1: Projects Anticipated in Public Infrastructure Action Timeframe Total Cost Expected Completion Develop and install wayfinding signage, with a focus on guiding residents and visitors to transit Short $ 30,000 1-2 years stations such as bus stops Install bicycle racks and related equipment, especially near transit stations such as bus stops Short $ 33,000 1-2 years Plan, develop and install banners Short $ 50,000 2-5 years Install pedestrian infrastructure (benches, trash cans, etc.) to increase and facilitate use of public Medium $ 75,000 5-10 years transit stations such as bus stops Install and increase pedestrian oriented lighting especially near transit stations such as bus stops Medium - Long $ 200,000 8-15 years Install public art (sculptures, murals, etc.) Medium - Long $ 80,000 8-15 years Install and maintain public flowerbeds and Medium - Long $ 100,000 8-15 years landscaping Placemaking projects (e.g. community-initiated Short, Medium or initiatives, events and improvements) Long $ 50,000 Ongoing Table 2: Projects Anticipated in Correction & Prevention of Deterioration Action Timeframe Total Cost Expected Completion Organize efforts to clean and beautify corridor Short $ 15,000 Ongoing Michigan Avenue Corridor Improvement Authority 20 Development and Tax Increment Financing Plan Create property inventory, prioritize redevelopment and marketing properties Short $ 45,000 5-10 years Organize community events that highlight positive Short- Medium $ 20,000 Ongoing corridor news Award program to encourage good business Short- Medium $ 15,000 Ongoing behavior Facade grant program (Matching Grant) Medium - Long $ 300,000 10-15 years Table 3: Projects Anticipated in Promotion of Neighborhood-Aligned Economic Growth Action Timeframe Total Cost Expected Completion Host community input sessions around Medium $ 30,000 5-10 years development projects Create a marketing and branding plan for corridor Short- Medium $ 50,000 2-5 years Sponsorship of corridor-focused projects and non- Long $ 100,000 10-15 years profit activities OTHER SOURCES OF FINANCING As noted in Section 621.2 (i), the CIA expects to finance these activities from one or more of the following sources: o Future tax increment revenues o State, Federal or Other grants o Special assessments as may be approved by the City of Lansing o Interest on investments o Donations received by the CIA o Fees, sponsorships and memberships o Public and private foundation grants o Proceeds from any property, building or facility owned, leased or sold by the CIA o Moneys obtained through development agreements with property owners benefiting from adjacent open space and other public improvements o Moneys obtained from other sources approved by the City of Lansing The revenue to be received from tax increment financing in this Development Area plus the availability of funds from other authorized sources will be sufficient to finance the activities and improvements to be carried out under this plan. At this time, there is no intention by the Authority to issue bonds or to request that City Council issue bonds for qualifying activities; should that change, the Authority will comply with all requirements under the Act, including amendment to this Plan if necessary. Michigan Avenue Corridor Improvement Authority 21 Development and Tax Increment Financing Plan Section III: TAX INCREMENT FINANCING PLAN FOR DEVELOPMENT DISTRICT This tax increment financing plan is established to make possible the financing of all or a portion of the costs associated with the activities and projects contained in the previous Development Plan for the Michigan Avenue Corridor Improvement District. Tax Increment Financing Plan Tax increment financing is a funding technique that utilizes increases in taxes on real and personal property within a specific development area to secure and pay the cost of public improvements or bonds issued by a municipality or Corridor Improvement Authority to finance the costs of an approved development plan, to pay the Authority's costs of operation, and to finance portions of an approved development plan which do not involve the issuance of bonds. The Corridor Improvement Authority Act requires the CIA to address three legislative requirements in the Tax Increment Financing Plan. These provide information about funds anticipated to be received bythe CIA and its impact upon taxing jurisdictions.These requirements are found in Section 618(1) of the Act and states that "if the authority determines that it is necessary for the achievement of the purposes of this act,the authority shall prepare and submit a tax increment financing plan to the governing body of the municipality. The plan shall include a development plan as provided in section 621..." Specifically, pursuant to Section 618(1) of the Act the Tax Increment Financing Plan must include, in addition to the Development Plan set forth above: 1. A detailed explanation of the tax increment procedure, 2. The maximum amount of bonded indebtedness to be incurred, and 3. The duration of the program. 4. A statement that all unused funds captured shall revert proportionally to the respective taxing bodies. 5. A statement of the estimated impact of tax increment financing on the assessed values of all taxing jurisdictions in which the development area is located. 6. A clear statement of the portion of captured value intended to be used by the Authority for the Plan, and the intended use. 1. Detailed explanation of the Tax Increment Financing Procedure The Corridor Improvement Authority Act, Act 57 of 2018, as amended, authorizes tax increment financing (TIF). TIF makes it possible for a district to essentially capture tax revenues that are derived from the increase in value of property, which has benefitted from development projects within said district. The revenue is used to finance further development within the district. The Michigan Avenue CIA has determined that, in order to finance the previous Development Plan, a tax increment financing plan must be adopted. Michigan Avenue Corridor Improvement Authority 22 Development and Tax Increment Financing Plan The theory of utilizing TIF is that tax revenue will increase within a district where development is taking place. That increase in development will generate an increase in the tax revenues within that district. Therefore, it is appropriate to use this increase in tax revenue to reinvest into the district to encourage continued development. The tax increment financing procedure as outlined in Act 57 of 2018 requires the adoption by the City, by resolution, of a Development Plan and a Tax Increment Financing Plan. Following the adoption of that resolution,the city and county treasurers are required by law to transmit to the CIA that portion of the tax levy of all taxing bodies paid each year on the "Captured Assessed Value of all real and personal property located in the Development Area."The tax amounts to be transmitted are hereinafter referred to as "Tax Increment Revenue". The Authority explicitly subordinates its capture of Tax Increment Revenue to any similar capture by a Brownfield Redevelopment Plan, duly authorized by the Lansing Brownfield Redevelopment Authority and Lansing City Council,for any parcel or property that is currently subject to any such Brownfield Redevelopment Plan or that comes to be during the duration of this Plan. This Plan will still capture any amount of qualifying Tax Increment Revenue that passes through any such Brownfield Redevelopment Plan's capture. The "Captured Assessed Value" is defined by the Act as "the amount in any 1 year by which the current assessed value of the project area, including the assessed value of property for which specific local taxes are paid in lieu of property taxes ... exceeds the initial assessed value..." The "initial assessed value" is defined by the Act as the"assessed value, as equalized,of all the taxable property within the boundaries of the Development Area at the time the resolution establishing the tax increment financing plan is approved, as shown by the most recent assessment roll of the municipality for which equalization has been completed at the time the resolution is adopted..." It is the goal of the CIA to use the captured assessed value in the development district for the number of years necessary to complete the projects outlined in the Development Plan. The CIA shall submit a report on the tax increment financing account showing the revenue received and the amount and purpose of expenditures from the account. Reports will also be required showing the initial assessed value of the development district and the amount of captured assessed value retained by the CIA. The report shall be submitted to the Lansing City Council and contain such additional information as the City Council deems necessary. An opportunity will be made available to the County Board of Commissioners and other taxing jurisdictions to meet with the City Council to discuss the fiscal and economic implications of the proposed financing and development plans. Approval of the tax increment financing plan must be obtained following the notice, hearing and disclosure provisions of Section 622 of the Act. If the development plan is a part of the tax increment financing plan, only one hearing and approval procedure is required for the two plans together. The tax increment financing plan may be modified by the City Council upon notice and Michigan Avenue Corridor Improvement Authority 23 Development and Tax Increment Financing Plan after public hearings. The governing body may abolish the tax increment financing plan when it finds that the purpose for which it was established is accomplished. 2. The maximum amount of bonded indebtedness to be incurred The CIA does not anticipate bonding based on currently identified projects. However, the CIA maintains the authority to bond to support future development projects. Below is the current financial position of the Authority. Description of Current Financial Position Current Assets: The Michigan Avenue Corridor Improvement Authority fund balance at the time of preparation of this analysis is $0.00. The Lansing Economic Area Partnership (LEAP) has contributed to the organizational costs of the CIA, as well as the preparation of this Development and Tax Increment Financing Plan. Anticipated Revenue:The CIA district contains 142 individual commercial properties.The 2019 taxable value of all properties is $22,047,037. This is the initial assessed value to which all future assessments will be compared to determine the tax capture for the district. A detailed projection table for the 15-year period is included in Appendix I. Expenses: The CIA will be responsible for all expenses for each project listed in the Development Plan using TIF funding. Other sources of funding may be leveraged from time to time in addition to the TIF. 3. Duration of The CIA and Tax Increment Financing District The initial duration of the CIA's TIF district is 15 years. This Tax Increment Financing Plan establishes a budget for a 15-year period. This is reflected in the previous Development Plan's projects estimated completion dates, shown in Tables 1 through 4. 4. Unused Funds Shall Revert Proportionally to the Respective Taxing Bodies The Authority shall comply with the requirements of Subsection 619(2)of the Act,and shall revert all unused funds, proportionally, to the respective taxing bodies. This TIF Plan is not intended, nor shall it be used to circumvent existing property tax limitations;the sole purpose is to enhance and increase public use of the public portions of the corridor as detailed in the Development Plan, especially as it pertains to utilization of public transit. 5. Estimated Impact of The Tax Increment Financing Plan Adoption of this Tax Increment Financing Plan will initially result in the use of all revenues derived from increases in assessed value of the real and personal property of the Development District for purposes of the Development Plan. As soon as adequate increments have been generated to pay for the development projects, excess tax increment will be returned to the taxing jurisdictions. Appendix I demonstrates the current millage levied by each jurisdiction, the anticipated growth in assessed value and the resulting tax increment revenues to be generated during the life of the Michigan Avenue Corridor Improvement Authority 24 Development and Tax Increment Financing Plan Plan, and the estimated fiscal and economic implications on taxing jurisdictions resulting from the implementation of the Plan and capture of millage by the Authority. The Authority proposes to strengthen the Development District and arrest the current stagnation and deterioration in property values. This is to be accomplished by using the additional tax revenues generated in the Development District to make public improvements and induce private redevelopment. Several tax bodies currently receive property tax revenue from the property within the Development District. They will continue to receive tax revenues on the initial assessed value of this property throughout the duration of the Plan. When this plan is terminated, these taxing jurisdictions will receive property tax revenues from all taxable property located within the Development District, including new development and appreciation in value stimulated by the development projects and inflation. 6. Use of Tax Increment Revenue The Authority intends to use all of the captured value in furtherance of the Plan described above. Tax increment revenues transmitted to the Authority shall be deposited in a separate fund of the Authority (the "Project Fund") and used as they accrue annually in the following manner, and with the following order or priority: 1. To pay the administrative, auditing, legal and operating costs of the Authority and the City pertaining to the Plan and the Development District, including planning and promotion to the extent provided in the annual budget of the Authority. 2. To repay amounts advanced by the City for project costs, including costs for preliminary plans, projects, fees, and for other professional services. 3. To pay, or to set aside in a reserve account for the purpose of paying when feasible, the cost of undertaking, completing and reimbursing the City for any public improvements as set forth in the Plan, to the extent those costs are not financed from other sources (the "Project Reserve Fund"). 4. To pay the cost of any additional improvements to the Plan that are determined necessary by the Authority and approved by the City Council in accordance with the Act. In accordance with Act 57, and to the extent that the Authority and City deem it necessary and in the best interest of the Authority, the Development District, and the City and its resident and property owners, the Authority may enter into tax sharing arrangements with affected taxing jurisdictions to share all or a portion of tax increment revenues on such terms as the Authority and the City Council determine to be most equitable for the Authority, the Development District and the City. Michigan Avenue Corridor Improvement Authority 25 Appendix A: Full Ordinance — Intent to Establish the Michigan Avenue Corridor Improvement Authority BY THE COMMITTEE ON DEVELOPMENT AND PLANNING RESOLVED BY THE CITY COUNCIL OF THE CITY OF LANSING WHEREAS, the City of Lansing, in conjunction with the City of East Lansing and . Chadter—Township af_Lansing_has_prepared.and forwarded a resolution of intent to create the—Michigan—Avenue—Corridor—improvement Authority—(the—Authority)—in accordance with the provisions of the Michigan Corridor Improvement Authority, Public Act 280 of 2005, as amended (the Act); WHEREAS, the Michigan Avenue Corridor Improvement Authority Development Area, as defined in the Act (the "Proposed Development Area"), is comprised of eligible property within an area along Michigan Avenue bounded by an area of all commercial property, as defined by PA 206 of 1893, found within 500 feet north and 500 feet south of the centerline of Michigan Avenue, and from the eastern edge of the Pere Marquette Rail Line in the City of Lansing to the west to the Lansing City limit to the east, and specifically identified in Exhibit A; WHEREAS, the District meets all of the requirements of section 5 of Public Act 280 of 2005, including: . 1, The Proposed Development Area is adjacent to a road classified as . an arterial or collector according to the Federal Highway Administration Manual "Highway Functional Classification _ Concepts, Criteria and Procedures;" and 2. The Proposed Development Area contains at least ten (10) contiguous parcels or at least five (5) contiguous acres; and 3. More that half of the existing ground floor square footage in the Proposed Development Area is classified as commercial .real property under Section 34c of the General Property Tax Act, Act 206 of 1893, as amended (MCL 211.34c); and 4. Residential use, commercial use, or industrial use has been allowed and conducted under the zoning ordinance or conducted in the entire Proposed Development Area for the immediately proceeding thirty (30) years. 5. The Proposed Development Area is presently served by municipal water and sewer; and 6. The Proposed Development Area is zoned to allow for mixed use that includes high density residential use LANSING CITY COUNCIL LEGISLATIVE ITEMS:JULY 27,2009 RESOLUTIONS and; WHEREAS, in accordance with Act 280 the City would further agree to the following with respect to the Proposed Development Area: 1. -T-o—expedite—the—local—permitt-ing--and—inspection—proces-s—in—tho-Z' --''-'-" Proposed Development Area; and 2. 'To modify its master plan to provide for walkable non-motorized interconnections, including sidewalks and streetscapes throughout the Proposed Development Area and; WHEREAS, at least one member of the Authority must reside within Y2 mile of the development district, WHEREAS, the Act requires that before creation of the Authority the Lansing City Council hold a public hearing in order to provide an opportunity-for those living in and around the boundaries of the Authority, the City Assessor, a representative of the affected taxing units, the residents, and other taxpayers of the City of Lansing general public appear and be heard regarding the creation of the Authority. NOW,'THEREFORE, BE IT RESOLVED that Council determines that it is necessary for the best interests of the City and the public to redevelop its commercial corridors and to promote economic growth; BE IT FURTHER RESOLVED that the City Council hereby declares its intent to work together with the City of East Lansing and the Charter Township of Lansing to create and provide for the operation of a corridor improvement authority as enabled by and pursuant to Act 280; BE IT FURTHER RESOLVED that Council hereby designates the boundaries of the Development Area as comprising parcels of real property identified in Exhibit A; BE IT FURTHER RESOLVED that the authority will be known as the "Michigan Avenue Corridor Improvement Authority." BE IT FINALLY RESOLVED that a public haring shall be held in the City Council Chambers of the City of Lansing, 10th Floor, Lansing City Hall, Lansing Michigan, on 24th day of 2009, for the purpose of receiving comment on the establishment of the Michigan Avenue Corridor Authority as set forth in Public Act 280 of 2005. Notice of the LANSING CITY COUNCIL LEGISLATIVE ITEMS:JULY 27,2009 RESOLUTIONS public hearing shall be published twice in a newspaper of-general circulation in the municipality, not less than .20 or more than 40 days before the date of the hearing. Not less than 20 days before the hearing, the City shall also mail notice of the hearing to the property taxpayers of record in the proposed development area, to the governing body of each taxing jurisdiction levying taxes that would be subject to capture if the authority ___i.s_estabIiShad-arid_a tax_increment financing__plan_ is approved, and to the state tax _ commission-Failure-of-a-property-taxpayer to-receive the-notice-does-not invalidate these proceedings. Notice of the hearing shall be posted in at least 20 conspicuous and public places in the proposed development area not less than 20 days before the hearing. The notice shall state the date, time, and place of the hearing and shall describe the boundaries of the proposed development area. A citizen, taxpayer, or property owner of the municipality or an official from a taxing jurisdiction with millage that would be subject to capture has the right to be heard in regard to the establishment of the authority and the boundaries of the proposed development area. LANSING CITY COUNCIL LEGISLATIVE ITEMS:JULY 27, 2009 RESOLUTIONS Appendix B : Affidavit of Notice of Public Hearing on Creation of the MACIA AFFIDAVIT OF POSTING NOTICE OF PUBLIC HEARING 1, the undersigned, hereby state that on May 81', 2009, 1 personally posted a notice of public hearing to be held by the City Council of the City of East Lansing on consideration on the creation of the Michigan Avenue Corridor Improvement Authority of the City of East Lansing, a copy of which notice is attached hereto and made a part hereof, in the following conspicuous and public places in the district described in the notice: 1. Utility Pole at the Southeast corner of Hiilcrest St and Grand River Ave 2. Utility Pole in the parking lot at 111 Cowley Ave. 3. Utility Pole on Hiilcrest Ave, north of the corner with Elm PI 4. Utility Pole in the parking lot at 404 Michigan Ave 5. Utility Pole in the parking lot at 1226 Michigan Ave 6. Utility Pole on the east side of Highland Ave, north side of parking lot entrance 7. Utility Pole on the south side of Elm PI, at the corner with Hiilcrest 8. Utility Pole on the south side of Elm PI, parking lot entrance 9. Utility Pole on the east side of Louis St, mid-first block 10. Utility Pole on the east side of Louis St, at the northeast corner with Michigan Ave. 11. Utility Pole at 111 Cowley Ave, north side of parking lot entrance 12. Utility Pole at 111 Cowley Ave, south side of parking lot entrance 13. Utility Pole on the east side of Center St, at 626 Michigan Ave 14. Utility Pole on the east side of Center St, at the northeast corner with Michigan Ave. 15. Utility Pole in the northeast corner of the Harrison Roadhouse parking lot 16. Utility Pole on Harrison Rd, northwest corner with Michigan Ave. 17. Utility Pole on Michigan Ave, northwest corner with Harrison Rd. 18. Utility Pole at the northwest corner of Michigan Ave and Highland Ave 19, Utility Pole at the northeast corner of Michigan Ave and Highland Ave 20. Utility Pole at the southwest comer of Michigan Ave and Reniger Ct 5 ` t Cristina 1-4uca, Development Intern t 3 3 a 5 t i Appendix C: Resolution Establishing the MACIA and Designation of the Development Area I, CHRIS SWOPE, CITY CLERK of the City of Lansing, Michigan, do hereby certify that I have compared the annexed copy of Resolution #2009-417, which established the Michigan Avenue Corridor Improvement Authority and Designation of the Development Area, which was adopted November 2, 2009, with the original now on file in my office, and that it is a correct copy thereof, and of the whole of such original. �NSI � ti G �-) cHIG r1 z na r� IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate seal of the City of Lansing t 's 15t" day of Ju e 2017. P HRIS SWOPE, City 011erk Lansing City Clerk's Office Ninth Floor,City Hall, 124 W. Michigan Ave.,Lansing,MI 48933-1695 517-483-4131 • TDD 517-483-4479. 517-377-0068 FAX www.lansingmi.gov/clerk • clerkLlansingini.gov s:\clerk staff\administrative\certified copy chris v2.doc RESOLUTION #2009-417 BY THE COMMITTEE ON DEVELOPMENT AND PLANNING RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LANSING Resolution Establishing Michigan Avenue Corridor Improvement Authority And Designation of the Development Area WHEREAS, the City of Lansing (the City), is authorized by the provisions of MCL 125.2871, et seq., Act 280, Public Acts of Michigan, 2005, as amended (Act 280), to create a corridor improvement authority; and WHEREAS, the City Council held a public hearing on August 24, 2009 pursuant to Act 280 in connection with the establishment of a corridor improvement authority and the designation of the proposed development area; and WHEREAS, at least 60 days have passed since the public hearing; and WHEREAS, the City Council intends to proceed with the establishment of a corridor improvement authority; NOW, THEREFORE, BE IT RESOLVED THAT: 1. Determination of Necessity: Purpose. The City Council hereby determines that it is necessary for the best interests of the public to create a public body corporate which shall operate to correct and prevent deterioration in business districts, to redevelop the City s commercial corridors and promote economic growth, pursuant to Act 280 of the Public Acts of Michigan, 2005, MCL 125.2871, et seq., as amended. 2. Definitions. The terms used in this resolution shall have the same meaning as given to them in Act 280 or as hereinafter in this section provided unless the context clearly indicates to the contrary. As used in this resolution: "Authority" means the Michigan Avenue Corridor Improvement Authority (also known as "MACIA") created by this resolution. "Act 280" means Act No. 280 of the Public Acts of Michigan of 2005, as amended. MCL 125.2871, et seq. "Board" or "Board of Directors" means the Board of Directors of the Authority, the governing body of the Authority. "Chief Executive Officer" means the Mayor of the City of Lansing. "City" means the City of Lansing, Ingham and Eaton Counties, Michigan. "City Council" means the City Council of the City of Lansing. "Development Area" means the development area designated by this resolution, as now existing or hereafter amended, and within which the Authority shall exercise its powers. 3. Creation of Authority. There is hereby created pursuant to Act 280 a Corridor Improvement Authority for the City. The Authority shall be a public body corporate and shall be known and exercise its powers under title of the MICHIGAN AVENUE CORRIDOR IMPROVEMENT AUTHORITY. The Authority may adopt a seal, may sue and be sued in any court of this State and shall possess all of the powers necessary to carry out the purposes of its incorporation as provided by this resolution and Act 280. The enumeration of a power in this resolution or in Act 280 shall not be construed as a limitation upon the general powers of the Authority. 4. Termination. Upon completion of its purposes, the Authority may be dissolved by resolution of the City Council. The property and assets of the Authority, after dissolution and satisfaction of its obligations, shall revert to the City. 5. Description of Development Area. The Development Area shall consist of the territory in the City described in Exhibit A to this resolution, attached hereto and made a part hereof, subject to such changes as may hereinafter be made pursuant to this resolution and Act 280. 6. Board of Directors. The Authority shall be under the supervision and control of the Board. The Board shall consist of the Mayor or his or her assignee, and seven additional members. Members shall be appointed by the Mayor, subject to approval by the City Council. Not less than a majority of the members shall be persons having an ownership or business interest in property located in the Development Area. Not less than 1 of the members shall be a resident of the Development Area, or of an area within 1/2 mile of any part of the Development Area. Members shall be appointed to serve for a term of four years, except that of the members first appointed, an equal number, as near as is practicable, shall be appointed for terms of 1 year, 2 years, 3 years, and 4 years. A member shall hold office until the member s successor is appointed. An appointment to fill a vacancy shall be made by the Mayor for the unexpired term only. Members of the Board shall serve without compensation, but shall be reimbursed for actual and necessary expenses. The Chairperson of the Board shall be elected by the Board. The Board shall adopt bylaws governing its procedures subject to the approval of the City Council. 7. Powers of Authority. Except as specifically otherwise provided in this resolution, the Authority shall have all powers provided by law subject to the limitations imposed by law and herein. 8. Fiscal Year: Adoption of Budget. The fiscal year of the Authority shall begin on July 1 st of each year and end on June 30th, or such other fiscal year as may hereafter be adopted by the City Council. The Board shall prepare annually a budget and shall submit it to the City Council for approval in the manner and at the time, and which budget shall contain the information, required of municipal departments. The Board shall not finally adopt a budget for any fiscal year until the budget has been approved by the City Council. The Authority shall submit financial reports to the City Council at the some time and on the same basis as departments of the City are required to submit reports. The Authority shall be audited annually by the same independent auditors auditing the City and copies of the audit report shall be filed with the City Council. 9. Section Headings: Severability. Section headings are provided for convenience only and are not intended to be part of this resolution. If any portion of this resolution shall be held to be unlawful, the remaining portions shall remain in full force and effect. 10. Publication. Recording and Filing. This resolution shall be published once after its adoption in full in a newspaper of general circulation in the City of Lansing, and the City Clerk shall file a certified copy of the resolution with the Michigan Secretary of State promptly after its adoption. Appendix D : Powers of Authority Powers of the Authority Detailed powers of the Corridor Improvement Authority board are listed below per 125.4611 section 611 of PA 57: (a) Prepare an analysis of economic changes taking place in the development area. (b) Study and analyze the impact of metropolitan growth upon the development area. (c) Plan and propose the construction, renovation, repair, remodeling, rehabilitation, restoration, preservation, or reconstruction of a public facility, an existing building, or a multiple-family dwelling unit which may be necessary or appropriate to the execution of a plan which, in the opinion of the board, aids in the economic growth of the development area. (d) Plan, propose, and implement an improvement to a public facility within the development area to comply with the barrier free design requirements of the state construction code promulgated under the Stille-DeRossett-Hale single state construction code act, 1972 PA 230, MCL 125.1501 to 125.1531. (e) Develop long-range plans, in cooperation with the agency that is chiefly responsible for planning in the municipality, designed to halt the deterioration of property values in the development area and to promote the economic growth of the development area, and take steps as may be necessary to persuade property owners to implement the plans to the fullest extent possible. (f) Implement any plan of development in the development area necessary to achieve the purposes of this act in accordance with the powers of the authority granted by this act. (g) Make and enter into contracts necessary or incidental to the exercise of its powers and the performance of its duties. (h) On terms and conditions and in a manner and for consideration the authority considers proper or for no consideration, acquire by purchase or otherwise, or own, convey, or otherwise dispose of, or lease as lessor or lessee, land and other property, real or personal, or rights or interests in the property, that the authority determines is reasonably necessary to achieve the purposes of this act, and to grant or acquire licenses, easements, and options. (i) Improve land and construct, reconstruct, rehabilitate, restore and preserve, equip, improve, maintain, repair, and operate any building, including multiple-family dwellings, and any necessary or desirable appurtenances to those buildings, within the development area for the use, in whole or in part, of any public or private person or corporation, or a combination thereof. (j) Fix, charge, and collect fees, rents, and charges for the use of any facility, building, or property under its control or any part of the facility, building, or property, and pledge the fees, rents, and charges for the payment of revenue bonds issued by the authority. (k) Lease, in whole or in part, any facility, building, or property under its control. (1) Accept grants and donations of property, labor, or other things of value from a public or private source. (m) Acquire and construct public facilities. (n) Conduct market research and public relations campaigns, develop, coordinate, and conduct retail and institutional promotions, and sponsor special events and related activities. (o) Contract for broadband service and wireless technology service in a development area. (2) Notwithstanding any other provision of this act, in a qualified development area the board may, in addition to the powers enumerated in subsection (1), do 1 or more of the following: (a) Perform any necessary or desirable site improvements to the land, including, but not limited to, installation of temporary or permanent utilities,temporary or permanent roads and driveways, silt fences, perimeter construction fences, curbs and gutters, sidewalks, pavement markings, water systems, gas distribution lines, concrete, including, but not limited to, building pads, storm drainage systems, sanitary sewer systems, parking lot paving and light fixtures, electrical service, communications systems, including broadband and high-speed internet, site signage, and excavation, backfill, grading of site, landscaping and irrigation, within the development area for the use, in whole or in part, of any public or private person or business entity, or a combination of these. (b) Incur expenses and expend funds to pay or reimburse a public or private person for costs associated with any of the improvements described in subdivision (a). (c) Make and enter into financing arrangements with a public or private person for the purposes of implementing the board's powers described in this section, including, but not limited to, lease purchase agreements, land contracts, installment sales agreements, sale leaseback agreements, and loan agreements. Appendix E : Appointed Members to the MACIA Board Michigan Avenue Corridor Improvement Authority: Joan M. Nelson as a Member for a term to expire June 30, 2022; RESOLUTION#2018-302 Reappointment:Joseph Ruth as a Member for a term to expire June 30, 2022; RESOLUTION#2018-302 Reappointment:Jonathan Lum as a Resident Member for a term to expire June 30, 2020; RESOLUTION#2018-209 BY THE COMMITTEE ON DEVELOPMENT& PLANNING RESOLVED BY THE CITY COUNCIL OF THE CITY OF LANSING WHEREAS,the Mayor made the appointment of Yvette Collins of 312 Midvale, Lansing, MI 48912 as a Member of the Michigan Avenue Corridor Improvement Authority for a term to expire June 30, 2021; and WHEREAS,the nominee has been vetted by the Mayor's Office and meets the qualifications as required by the City Charter; and WHEREAS,the Committee on Development& Planning met on August 6, 2018 and took affirmative action; NOW,THEREFORE, BE IT RESOLVED that the Lansing City Council, hereby, confirms the appointment of Yvette Collins of 312 Midvale, Lansing, MI 48912 as a Member of the Michigan Avenue Corridor Improvement Authority for a term to expire June 30, 2021. By Council Member Hussain Motion Carried RESOLUTION#2018-122 BY THE COMMITTEE ON DEVELOPMENT& PLANNING RESOLVED BY THE CITY COUNCIL OF THE CITY OF LANSING WHEREAS,the Mayor made the appointment of Elaine M. Barr of 519 S.Jenison Avenue, Lansing, MI 48915 as a Member of the Michigan Avenue Corridor Improvement Authority for a term to expire June 30, 2019; and WHEREAS,the nominee has been vetted by the Mayor's Office and meets the qualifications as required by the City Charter; and WHEREAS,the Committee on Development& Planning took affirmative action; NOW,THEREFORE, BE IT RESOLVED that the Lansing City Council, hereby, confirms the appointment of Elaine M. Barr of 519 S.Jenison Avenue, Lansing, MI 48915 as a Member of the Michigan Avenue Corridor Improvement Authority for a term to expire June 30, 2019. By Council Member Hussain Motion Carried City Clerk Swope administered the Oath of Office to Elaine M. Barr RESOLUTION#2017-204 Reappointment: Scott Gillespie for a term to expire June 30, 2021 Appendix F : MACIA Bylaws BYLAWS OF THE MICHIGAN AVENUE CORRIDOR IMPROVEMENT AUTHORITY OF THE CITY OF LANSING Rev: January 16, 2019 ARTICLE I - NAME The name of this Authority is the Michigan Avenue Corridor Improvement Authority of the City of Lansing. ARTICLE II - PURPOSE The purpose of the Authority is to carry out those purposes and exercise those powers as conferred upon it by State of Michigan's Corridor Improvement Authority Act, Act 57 of 2018 (Formerly known as Act 280 of the Michigan Public Acts of 2005) as amended ("the Act"). The Authority shall be a public body corporate and shall have all the powers which now or hereafter may be conferred by law on authorities organized under the Act. These Bylaws are adopted as the Authority's rules governing procedure and holding regular meetings, in accordance with the Act. ARTICLE III - AUTHORITY BOARD OF DIRECTORS Section 1. Authority Board. The Authority shall be under the supervision and control of a board consisting of seven members appointed by the Mayor of the City of Lansing subject to the approval of City Council. The board will also include the Mayor or a Mayoral Assignee. Not less than a majority of the members shall be persons having an ownership or business interest in property located in the Corridor Improvement Authority development area. At least one of the members shall be a resident of the development area or of an area within one-half mile of any part of the development area. Section 2. Terms, Replacement, and Vacancies. Of the initial seven members appointed, one term shall expire on June 30, 2016, two terms shall expire on June 30, 2017, two terms shall expire on June 30, 2018, and two terms shall expire on June 30, 2019. Thereafter, each member appointed shall serve for a term of four years. A member shall hold office until the member's successor is appointed. An appointment to fill a vacancy shall be made by the Mayor for the unexpired term only. Before assuming the duties of office, a member shall qualify by taking and subscribing to the constitutional oath of office. Section 3. Removal. A member of the Board may be removed for cause by the City Council after having been given notice and an opportunity to be heard. ARTICLE IV - OFFICERS Section 1. Officers. The officers of the Authority Board shall be a chairperson, a vice chairperson, a treasurer, and a recording secretary. All officers shall be members of the Authority Board, with the exception of the recording secretary who may, but need not be, a member of the Authority Board. Section 2. Removal of Officers. An officer may be removed by the Authority Board whenever, in its 1 of 6 judgment, the best interest of the Authority Board will be served. Section 3. Chairperson. The chairperson shall preside at all meetings of the Authority Board and shall discharge the duties as a presiding officer. Section 4. Vice Chairperson. In the absence of the chairperson or in the event of inability to serve as chairperson, the vice chairperson shall perform the duties of the chairperson and when so acting, shall have all the powers and be subject to all the restrictions of the chairperson. Section 5. Treasurer. The treasurer shall prepare, with the assistance of appropriate staff, an annual financial report covering the fiscal year of the Authority. The fiscal year of the Authority shall be July 1 to June 30. An annual audit will be made each year. The treasurer shall provide a bond if necessary, in the amount prescribed by the Authority Board. Section 6. Recording Secretary. The recording secretary, if not a member of the Authority Board, shall be a designee of the Authority Board. The recording secretary shall attend all meetings of the Authority Board and with the assistance of appropriate staff record all votes and the minutes of all proceedings, to be maintained for future reference. The recording secretary shall give, or cause to be given, notice of all meetings of the Authority Board, as required by law or these bylaws, and shall perform such other duties as may be prescribed by the Authority Board. The recording secretary shall, when authorized by the Authority Board, attest by signature to actions of the Authority Board, and shall maintain custody of the official seal, and of the records, books and all documents of the Authority. Section 7. Delegation of Duties of Officers. In the absence of any officer of the Authority Board due to resignation or removal, the Authority Board may delegate the powers and duties of any officer to any Authority Board member provided a majority of a quorum of the Authority Board concurs therein. Section 8. Election of Officers. Nominations shall be made from the floor at the annual meeting in January or at the initial meeting of the Authority Board. Officers shall be elected by ballot. The terms of office shall be for one year and begin at the close of the annual meeting at which they are elected, or until his or her successor shall be elected and qualified. No member shall hold more than one office at a time. ARTICLE V - EMPLOYMENT OF DIRECTOR The Authority Board may employ and fix compensation of a director subject to approval of the City Council. A member of the Board is not eligible to hold the position of Director. Before beginning his or her duties, the Director shall subscribe to the constitutional oath and furnish a bond as required by section 609 of Act 57 of 2018. The Director shall be the chief executive officer of the Authority. The Director shall serve at the pleasure of the Authority Board. ARTICLE VI - MEETINGS Section 1. Organizational Meeting and Election of Officers. Officers shall be elected at the first organizational meeting of the Authority Board after the adoption of the Bylaws and shall be appointed thereafter pursuant to Article VI - Section 2. 2 of 6 Section 2. Annual Meeting. Starting in the year 2019, an annual meeting shall be held in January at a time and place to be set by the Authority Board. Election of officers shall occur at the annual meeting. If the election of officers does not occur on the day designated or any adjournment thereof, the Authority Board shall cause the election to be held at a regular or special meeting of the Authority Board within 90 days of the annual meeting. Section 3. Regular Meetings. Regular meetings of the Authority Board shall be held at a time and place to be set by the Authority Board at its annual meeting. Notice of regular meetings shall be published in accordance with the Michigan Open Meetings Act, Act 267 of the Public Acts of 1976, as amended. The Authority Board records shall be open to the public. Section 4. Special Meetings. Special meetings of the Authority Board may be called by the chairperson, the vice chairperson in the absence of the chairperson, or by any three Authority members by giving 24 hours' notice of the meeting to other board members, stating the purpose of the meeting, and by posting sufficient public notice in accordance with the Michigan Open Meetings Act. Section 5. Notice of Meetings. All meetings other than regularly scheduled meetings shall be preceded by public notice posted 18 hours prior to the meeting in accordance with the Michigan Open Meetings Act. Section 6 Agenda and Minutes. The recording secretary together with appropriate staff shall prepare the agendas for all regular meetings and send them to the Authority Board members at least 24 hours prior to the meeting. Any member of the Authority Board may request any item to be placed on the agenda. Minutes of all meetings shall be prepared and kept in accordance with the Michigan Open Meetings Act. Proposed Minutes of a meeting shall be made available to the public no more than 8 days after the meeting. The Board shall vote to approve or amend and approve minutes from any prior meeting, at the next regular meeting. Section 7 Quorum and Voting. A quorum shall constitute a majority of the Authority Board members appointed and serving at the time. A majority vote of a quorum of the Authority Board shall constitute the action of the Authority Board unless the vote of a larger number is required by statute, or elsewhere in these rules. In the event that effective membership is reduced because of a conflict of interest, a majority of the remaining members eligible to vote shall constitute the action of the Authority Board. Section 8 Rules of Order. Robert's Rules of Order will govern the conduct of all meetings. Section 9 Open and Closed Meetings. All regular and special meetings of the Authority Board shall be open to the public, and each agenda shall include a time for public comment. Closed meetings of the Authority Board may be called for the purposes listed in the Michigan Open Meetings Act, if approved by the Authority. Section 10 Conflict of Interest. An Authority Board member who has a direct conflict of interest of more than a de minimis nature as defined by MCL 15.322 and 15.323 in any matter before the Authority Board shall disclose that interest prior to the Authority Board taking any action with respect to the matter. This disclosure shall become part of the record of the Authority Board's official proceedings. Any member making such disclosure shall, with the approval of the 3 of 6 Authority Board, refrain from participating in the Authority Board's decision-making process, to include all discussions, motions made and votes taken, relative to such matters, unless required by law. In addition, an Authority Board member shall be subject to the conflict of interest provisions of section 5-505 of the Lansing City Charter and the Ethics Ordinance in Part 2, Title 10, Chapter 290 of the Lansing Codified Ordinances. Section 11 Mandatory Voting. Except when a member is excused from participating on a matter by the chair because of a disclosed conflict of interest, all members present shall vote on all matters before the Authority Board. Section 12 Physical Presence Required. Members may not be counted as in attendance and may not vote unless they are physically present at the meeting. Members may not send a proxy to a meeting, and members may not vote by proxy. ARTICLE VII - EXECUTIVE COMMITTEE The officers of the Authority Board, including chairperson, vice chairperson, treasurer, and recording secretary, shall constitute the executive committee. The executive committee shall have general supervision of the affairs of the Authority Board between its business meetings, fix the hours and place of meetings, make recommendations to the Authority Board, and shall perform such other duties as specified in these Bylaws or as may be specified by the Authority Board. ARTICLE VIII - AUTHORITY BOARD COMMITTEES AND ADVISORY COMMITTEES Section 1 Authority Board Committees. The Authority Board, by resolution, may designate and appoint one or more committees to advise the Authority Board. Committee members shall be members of the Authority Board. The chairperson of the Authority Board shall appoint the members and select the chairperson of the Authority Board committees. The committees may be terminated by vote of the Authority Board. At the annual meeting, the committees will be evaluated and reappointed or dissolved. A majority of the committee will constitute a quorum. A majority of the members present at the meeting at which a quorum is present shall be the action of the committee. Section 2 Advisory Committees. The Authority Board may, by resolution, authorize the establishment of advisory committees to the Authority Board. The chairperson shall select, with the advice and consent of the Authority Board members, the members of each advisory committee. The advisory committees shall elect their own officers and establish rules governing their action. ARTICLE IX - INDEMNIFICATION Section 1 Indemnification and Defense. Matters involving a claim or civil action against any officer or employee of the Authority, while acting within the scope of their authority, are subject to the Government Liability for Negligence Act, Act 170 of the Public Acts of 1964, as amended. Section 2. Reimbursement. Any action by the Authority Board on behalf of an officer or employee under Section 1 shall be made by the Authority Board only as authorized in the specific case 4 of 6 upon a determination that such action is appropriate. Such determination shall be made in either of the following ways: 1. By a majority vote of the members of the Authority Board who were not parties to such claim, action, suit or proceedings, or 2. If such quorum is not obtainable, or even if obtainable, a quorum of disinterested members so directs, supported by the recommendation of legal counsel in a written opinion. Section 3. Insurance. The Authority Board may purchase and maintain insurance on behalf of any person who is or was an officer or employee of the Authority against any liability asserted against the officer or employee and incurred by them in any such capacity or arising out of their status as such. ARTICLE X -AMENDMENTS OF BYLAWS These Bylaws may be amended at any regular meeting of the Authority Board by a majority vote of a quorum, provided that the amendment has been submitted in writing at the previous regular meeting; provided, however, that no such amendment shall take effect until approved by resolution of the City Council. 5 of 6 Adopted: danu,ar 25�, 2019 1 ze,,� C/irperson Secretary The foregoing bylaws of the Michigan Avenue Corridor Improvement Authority of the City of Lansing were approved by resolution of the Lansing City Council duly adopted at a regular meeting of the Council held pursuant to statutory notice on the day of 2019. City Clerk 6 of 6 Appendix G : List of Affected Properties by Parcel Identification Number Parcel Number Property Address Class 33-01-01-15-403-002 1300 EUREKA ST 201 33-01-01-15-426-401 1520 E MICHIGAN AVE 201 33-01-01-15-304-152 920 E MICHIGAN AVE 201 33-01-01-14-153-201 2201 E MICHIGAN AVE 201 33-01-01-14-156-126 2033 E MICHIGAN AVE 201 33-01-01-15-429-002 1800 E MICHIGAN AVE 201 33-01-01-15-426-391 1522 E MICHIGAN AVE 201 33-01-01-15-279-083 1605 E MICHIGAN AVE 201 33-01-01-14-176-122 2401 E MICHIGAN AVE 201 33-01-01-15-426-001 1500 E MICHIGAN AVE 201 33-01-01-14-301-031 1918 E MICHIGAN AVE 201 33-01-01-15-280-121 1825 E MICHIGAN AVE 201 33-01-01-14-305-001 2300 E MICHIGAN AVE 201 33-01-01-15-280-081 1723 E MICHIGAN AVE 201 33-01-01-14-156-101 2017 E MICHIGAN AVE 201 33-01-01-15-304-071 915 EUREKA ST 201 33-01-01-14-154-202 2305 E MICHIGAN AVE 201 33-01-01-15-401-271 1426 E MICHIGAN AVE 201 33-01-01-15-304-061 913 EUREKA ST 201 33-01-01-14-154-191 2301 E MICHIGAN AVE 201 33-01-01-15-281-071 1909 E MICHIGAN AVE 201 33-01-01-15-426-451 1504 E MICHIGAN AVE 201 33-01-01-15-429-631 1810 E MICHIGAN AVE 201 33-01-01-15-429-621 1816 E MICHIGAN AVE 201 33-01-01-14-176-152 2419 E MICHIGAN AVE 201 33-01-01-14-305-411 2312 E MICHIGAN AVE 201 33-01-01-14-304-001 2200 E MICHIGAN AVE 201 33-01-01-15-402-192 1452 E MICHIGAN AVE 201 33-01-01-15-281-061 1905 E MICHIGAN AVE 201 33-01-01-15-304-133 930 E MICHIGAN AVE 201 33-01-01-15-427-001 1600 E MICHIGAN AVE 201 33-01-01-14-327-451 2522 E MICHIGAN AVE 201 33-01-01-14-305-401 2316 E MICHIGAN AVE 201 33-01-01-15-428-125 1720 E MICHIGAN AVE 201 33-01-01-15-329-201 1022 EUREKA ST 201 33-01-01-14-305-391 2320 E MICHIGAN AVE 201 33-01-01-15-428-161 1706 E MICHIGAN AVE 201 33-01-01-15-401-253 1430 E MICHIGAN AVE 201 33-01-01-15-428-131 1716 E MICHIGAN AVE 201 33-01-01-14-179-092 2607 E MICHIGAN AVE 201 33-01-01-14-304-381 114 S HAYFORD AVE 201 33-01-01-14-301-021 1914 E MICHIGAN AVE 201 33-01-01-14-152-181 2121 E MICHIGAN AVE 201 33-01-01-14-177-221 2515 E MICHIGAN AVE 201 33-01-01-14-305-422 2306 E MICHIGAN AVE 201 33-01-01-15-280-091 1805 E MICHIGAN AVE 201 33-01-01-15-429-641 1806 E MICHIGAN AVE 201 33-01-01-15-259-151 1447 E MICHIGAN AVE 201 33-01-01-14-156-111 2019 E MICHIGAN AVE 201 33-01-01-14-156-071 2001 E MICHIGAN AVE 201 33-01-01-14-154-221 2311 E MICHIGAN AVE 201 33-01-01-15-429-602 1824 E MICHIGAN AVE 201 33-01-01-14-176-141 2409 E MICHIGAN AVE 201 33-01-01-15-281-082 1915 E MICHIGAN AVE 201 33-01-01-14-179-102 2615 E MICHIGAN AVE 201 33-01-01-14-301-001 1910 E MICHIGAN AVE 201 33-01-01-14-326-421 2418 E MICHIGAN AVE 201 33-01-01-15-259-101 1427 E MICHIGAN AVE 201 33-01-01-15-430-021 131 REGENT ST 201 33-01-01-14-176-132 2405 E MICHIGAN AVE 201 33-01-01-14-304-411 2208 E MICHIGAN AVE 201 33-01-01-13-151-014 3335 E MICHIGAN AVE 201 33-01-01-15-430-011 125 REGENT ST 201 33-01-01-14-154-231 2323 E MICHIGAN AVE 201 33-01-01-15-428-002 1700 E MICHIGAN AVE 201 33-01-01-15-427-591 1606 E MICHIGAN AVE 201 33-01-01-14-156-092 2011 E MICHIGAN AVE 201 33-01-01-14-177-231 2521 E MICHIGAN AVE 201 33-01-01-15-281-051 1901 E MICHIGAN AVE 201 33-01-01-14-155-052 1923 E MICHIGAN AVE 201 33-01-01-15-303-012 117 S HOSMER ST 201 33-01-01-14-156-082 2005 E MICHIGAN AVE 201 33-01-01-14-177-202 2511 E MICHIGAN AVE 201 33-01-01-14-156-122 2021 E MICHIGAN AVE 201 33-01-01-14-152-171 2101 E MICHIGAN AVE 201 33-01-01-15-401-282 1420 E MICHIGAN AVE 201 33-01-01-15-326-083 1026 E MICHIGAN AVE 201 33-01-01-15-402-182 1456 E MICHIGAN AVE 201 33-01-01-14-326-001 2400 E MICHIGAN AVE 201 33-01-01-15-279-042 1601 E MICHIGAN AVE 201 33-01-01-14-303-441 2116 E MICHIGAN AVE 201 33-01-01-14-256-102 203 N CLIPPERT ST 201 33-01-01-14-327-462 2510 E MICHIGAN AVE 201 33-01-01-15-402-003 1438 E MICHIGAN AVE 201 33-01-01-15-259-073 1417 E MICHIGAN AVE 201 33-01-01-15-304-161 912 E MICHIGAN AVE 201 33-01-01-15-430-001 1908 E MICHIGAN AVE 201 33-01-01-15-153-091 815 JEROME ST 201 33-01-01-15-427-562 1620 E MICHIGAN AVE 201 33-01-01-15-259-122 1433 E MICHIGAN AVE 201 33-01-01-15-280-071 1717 E MICHIGAN AVE 201 33-01-01-15-302-322 108 S HOSMER ST 201 33-01-01-15-155-045 809 E MICHIGAN AVE 201 33-01-01-14-256-080 125 N CLIPPERT ST 201 33-01-01-15-280-042 1703 E MICHIGAN AVE 201 33-01-01-15-258-092 1309 E MICHIGAN AVE 201 33-01-01-14-256-042 200 N HOMER ST 201 33-01-01-15-304-001 900 E MICHIGAN AVE 201 33-01-01-15-301-012 720 E MICHIGAN AVE 201 33-01-01-13-151-038 3315 E MICHIGAN AVE 201 33-01-01-15-401-003 1322 E MICHIGAN AVE 201 33-01-01-14-256-064 3003 E MICHIGAN AVE 201 33-01-01-15-401-303 1400 E MICHIGAN AVE 201 33-01-01-13-151-002 3301 E MICHIGAN AVE 201 33-01-01-14-226-021 3131 E MICHIGAN AVE 201 33-01-01-13-151-023 3433 E MICHIGAN AVE 201 33-01-01-15-151-032 735 E MICHIGAN AVE 201 33-01-01-14-178-232 2801 E MICHIGAN AVE 201 33-01-01-14-226-031 3165 E MICHIGAN AVE 201 33-01-01-14-302-001 2000 E MICHIGAN AVE 201 33-01-01-14-302-392 2020 E MICHIGAN AVE 201 33-01-01-14-302-411 2016 E MICHIGAN AVE 201 33-01-01-14-302-421 2012 E MICHIGAN AVE 201 33-01-01-14-302-431 2010 E MICHIGAN AVE 201 33-01-01-14-302-441 2006 E MICHIGAN AVE 201 33-01-01-14-302-451 2004 E MICHIGAN AVE 201 33-01-01-14-302-461 2002 E MICHIGAN AVE 201 33-01-01-14-304-391 2224 E MICHIGAN AVE 201 33-01-01-14-304-401 2216 E MICHIGAN AVE 201 33-01-01-15-279-091 1621 E MICHIGAN AVE 201 33-01-01-15-303-121 S EIGHTH ST 202 33-01-01-14-305-381 S FOSTER AVE 202 33-01-01-14-303-002 E MICHIGAN AVE 202 33-01-01-14-303-431 S MAGNOLIA AVE 202 33-01-01-14-303-462 E MICHIGAN AVE 202 33-01-01-15-428-122 LESLIE ST 202 33-01-01-14-301-011 E MICHIGAN AVE 202 33-01-01-15-281-041 HORTON AVE 202 33-01-01-14-302-012 S CLEMENS AVE 202 33-01-01-14-302-352 S FAIRVIEW AVE 202 33-01-01-14-327-442 S MIFFLIN AVE 202 33-01-01-15-280-101 1809 E MICHIGAN AVE 202 33-01-01-15-280-111 1815 E MICHIGAN AVE 202 33-01-01-15-303-141 E MICHIGAN AVE 202 33-01-01-14-303-451 E MICHIGAN AVE 202 33-01-01-15-259-052 E MICHIGAN AVE 202 33-01-01-15-155-002 800 JEROME ST 202 33-01-01-14-256-071 E MICHIGAN AVE 202 33-01-01-13-151-034 FRIENDSHIP CIRCLE 202 33-01-01-14-178-241 2827 E MICHIGAN AVE 202 33-01-01-14-179-133 E MICHIGAN AVE 202 33-01-01-15-326-801 1004 E MICHIGAN AVE 210 Appendix H : MACIA District Map — Parcels included within Michigan Avenue Corridor x+�t� iPew `pt Y� '` 1 ^A{� P't�fillry ^'. . se P3kY7Fiy e pr .: t t all!I OR Ing _ r, OR .11Z7 � � � Appendix I : Projections and Taxing Jurisdiction Impact Tables City of Lansing-Michigan Avenue Corridor Improvement Authority:Tax Increment Revenue Projections Corridor Parcels Taxable Value= 22,047,037 Updated 8/16/2019 2019 Local Capture Detail-Breakdown by Taxing Entity Local Capture Detail-Breakdown by Taxing Entity All IN Value with City of Capital Area Annual Non- City of City of Lansing Ingham County Ingham County Inflation- Lansing District All in: School Tax Lansing Lansing Community Ingham CCRA Zoo 9.6573 Mills 9.6573 Mills City of 0.75%growth 19.4400 Library Non-School Tax Capture 19.4400 Library College CATA County .699000 0.41 (80*/d20%Rev. (900/d10%Rev. Lansing+ Date Baseline Value rate Increment Mills 1.56000 City capture only Capture Millage Available Mills 1.5600 3.8072 Mills 3.0070 Mills 9.6573 Mills Mills Mills Sharing) Sharing) County 2019 22,047,037 22,047,037 0 0 0 0 38.5805 0 0 0 0 0 01 0 0 0 0 0 20201 22,047,037 22,212,3901 165,353 3,214 2581 3,472 38.5805 6,379 3,214 258 630 497 1,5971 116 681 1,277 1,437 4,811 2021 22 047 037 22,378,9831 331,946 6,453 518 6,971 38.5805 12,807 6,453 518 1,264 998 3,206 232 136 2,565 2,885 9,659 2022 22 047,037 22 546,825 499,788 9,716 780 10,496 38.5805 19,282 9,716 780 1,903 1,503 4,827 349 205 3,861 4,344 14,542 2023 22,047,037 22,715,926 668,889 13,003 1,043 14,047 38.5805 25,806 13,003 1,043 2,547 2,011 6,460 468 274 5,168 5,814 19,463 2024 22 047,037 22 886,296 839,259 16,315 1,309 17,624 38.5805 32,379 16,315 1,309 3,195 2,524 8,105 587 344 6,484 7,294 24,420 2025 22,047,037 23,057,943 1,010,906 19,652 1,577 21,229 38.5805 39,001 19,652 1,577 3,849 3,040 9,763 707 414 7,810 8,786 29,415 2026 22 047,037 23 230,877 1,183,840 23,014 1,847 24,861 38.5805 45,6731 23,014 1,847 4,507 3,560 11,433 828 485 9,1461 10,289 34,447 2027 22,047,037 23,405,109 1,358,072 26,4011 2,119 28,526 38.5805 52.3951 26,401 2,119 5,170 4,084 13,115 949 557 10,492 11,804 39,516 20281 22 047,037 23 580,647 1,533,610 29,8131 2,392 32,206 38.5805 59,1671 29,813 2,392 5,839 4,612 14,811 1,0721 629 11,848 13,329 44,624 2029 22 047 037 23,757,502 1,710,465 33,2511 2,668 35,920 38.5805 65.9911 33,251 2,668 6,512 5,143 16,518 1,196 701 13,215 14,867 49,770 2030 22 047,037 23 935,684 1,888,647 36,715 2,946 39,662 38.5805 72,865 36,715 2,946 7,190 5,679 18,239 1,320 774 14,591 16,415 54,955 2031 22,047,037 24,115,201 2,068,164 40,205 3,226 43,431 38.5805 79,791 40,205 3,226 7,874 6,219 19,973 1,446 848 15,978 17,976 60,178 2032 22,047,037 24,296,065 2,249,028 43,721 3,508 47,230 38.5805 86,769 43,721 3,508 8,562 6,763 21,720 1,572 922 17,376 19,548 65,441 2033 22,047,037 24,478,286 2,431,249 47,263 3 793 51,056 38.5805 93,799 47 263 3,793 9,256 7,311 23,479 1,699 997 18,783 21 131 70,743 2034 22,047,037 24,661,873 2,614,836 50,832 4,079 54 912 38.5805 100,882 50 832 4 079 9 955 7,863 25,252 1 828 1 072 20 202 22 727 76 085 399,571 32,064 431,635 792,986 399,571 32,064 78,253 61,806 198,497 14,367 8,427 158,797 178,647 598,067 Discount rate 0.04 Discount rate 0.04 NPV= 290,239 NPV= 533,218 Local Capture Detail-Breakdown by Taxing Entity Local Capture Detail-Breakdown by Taxing Entity All IN Value with City of Capital Area Annual Non- City of City of Lansing Ingham County Ingham County Inflation- Lansing District All in: School Tax Lansing Lansing Community Ingham CCRA Zoo 9.6573 Mills 9.6573 Mills City of 1.00%growth 19.4400 Library Non-School Tax Capture 19.4400 Library College CATA County .699000 0.41 (801/6120%Rev. (901/6110%Rev. Lansing+ Date Baseline Value rate Increment Mills 1.56000 City capture only Capture Millage Available Mills 1.5600 3.8072 Mills 3.0070 Mills 9.6573 Mills Mills Mills Sharing) Sharing) County 2019 22,047,037 22,047,037 0 0 0 0 38.5805 0 0 0 0 0 0 0 0 0 0 0 2020 22,047,037 22,267,507 220,470 4,286 344 4,630 38.5805 8,506, 4,286 344 839 663 2,129 154 90 1,703, 1,916 6,415 20211 22,047,037 22,490,182 443,145 8,615 691 9,306 38.5805 17,097 8,615 691 1,6871 1,333 4,280 3101 182 3,424 3,852 12,894 2022 22,047,037 22,715,084 668,047 12,987 1,042 14,029 38.5805 25,774 12,987 1,042 2,543 2,009 6,452 467 274 5 161 5,806 19,438 2023 22,047,037 22,942,235 895,198 17,403 1,397 18,799 38.5805 34,537 17,403 1,397 3,408 2,692 8,645 626 367 6,916 7,781 26,048 2024 22,047,037 23,171,657 1,124,620 21,863 1,754 23,617 38.5805 43 388 21,863 1,754 4,282 3,382 10,861 786 461 8,689 9,775 32,723 2025 22,047,037 23,403,374 1,356,337 26,367 2,116 28,483 38.5805 52,328 26,367 2,116 5,164 4,079 13,099 948 556 10,479 11,789 39,466 2026 22,047,037 23,637,408 1,590,371 30,9171 2,481 33,398 38.5805 61 357 30,917 2,481 6,055 4,782 15,359 1,112 652 12 287 13,823 46,275 2027 22,047,037 23,873,782 1,826,745 35,5121 2,8501 38,362 38.5805 70,477 35,512 2,850 6,955 5,493 17,641 1,277 749 14,113 15,877 53,153 2028 22,047,037 24,112,520 2,065,483 40,153 3,222 43,375 38.5805 79,6871 40,153 3,222 1 7,864 6,211 19,947 1,444 847 15,958 17,9521 60,100 20291 22,047,037 24,353,645 2,306,608 44,840 3,598 48,439 38.5805 88,9901 44,840 3,598 8,782 6,936 22,276 1,6121 946 17,820 20,048 67,116 2030 22, 47,037 24,597,181 2,550,144 49,575 3,978 53,553 38.5805 98,386 49,575 3,978 9,709 7,668 24,628 1,783 1,046 19,702 22,165 74,202 2031 22,047,037 24,843,153 2,796,116 54,356 4,362 58,718 38.5805 107,876 54,356 4,362 10,645 8,408 27,003 1,954 1,146 21,602 24,303 81,359 2032 22 047 037 25,091,585 3,044,548 59,186 4,749 63,936 38.5805 117,460 59,186 4,749 11,591 9,155 29,402 2,128 1,248 23,522 26,462 88,588 2033 22,047,037 25,342,501 3295,464 64,064 5141 69205 38.5805 127,141 64,064 5,141 12,546 9,909 31,825 2,304 1,351 25,460 28,643 95889 2034 22,047,0371 25,595,92613,548,889 68,990 5 536 74 527 38.5805 136,918 68,990 5,536 13,511 10 672 34,273 2,481 1,455 27,418 30,845 103,263 539,114 43,262 582,376 1,069,922 539,114 43,262 105,582 83:3911 267,818 19,385 11,3701 214,2541 241,036 806,932 Discount rate 0.04 Discount rate 0.04 NPV= 391,334 NPV= 718,946 Local Capture Detail-Breakdown by Taxing Entity Local Capture Detail-Breakdown by Taxing Entity All IN Value with City of Capital Area Annual Non- City of City of Lansing Ingham County Ingham County Inflation- Lansing District All in: School Tax Lansing Lansing Community Ingham CCRA Zoo 9.6573 Mills 9.6573 Mills City of 1.50%growth 19.4400 Library Non-School Tax Capture 19.4400 Library College CATA County .699000 0.41 (80%I20%Rev. (90%I10%Rev. Lansing+ to Baseline Value j16rate I 1.56000 City capture only g Capture Millage Available Mills 1.5600 3.8072 Mills 3.0070 Mills 9.6573 Mills Mills Mills Sharing) Sharing) County 2019 22,047,037 22,047,037 0 0 0 0 38.5805 0 0 0 0 0 0 0 0 0 0 0 2020 22,047,037 22,377,743 330,706 6,429 516 6,945 38.5805 12,759, 6,429 516 1,259 994 3,194 231 136 2,555, 2,874 9,623 2021 22,047,037 22 713,409 666,372 12,954 1,040 13,994 38.5805 25,709 12,954 1,040 2,5371 2,004 6,435 466 273 5 148 5,792 19,390 2022 22 47,037 23,054,110 1,007,073 19,577 1 571 21,149 38.5805 38,853 19 577 1,571 3,834 3,028 9,726 704 413 11115 780 8 753 29 303 2023 22 047,037 23 399,921 1,352,884 26 300 2 110 28 411 38.5805 52 195 26,300 2,110 5 151 4,068 13 065 946 555 452 11,759 39 365 2024 22 047 037 23,750,920 1,703,883 33 123 2 658 35 782 38.5805 65,737 33,1231 2,658 6 487 5 124 16,455 1,191 699 164 14 809 49,5781 2025 22 047,037 24 107,184 2,060,147 40,049 3,2141 43.263 38.5805 79 482 40 049 3,214 7 843 6 195 19,895 1,440 845 916 17,906 59 945 2026 22 047.037 24 468,792 2,421,755 47,079 3,778 50,857 38.5805 93,433 47,079 3,778 9,220 7,282 23,388 1,693 993 18,710 21,049 70,467 2027 22,047,037 24,835,824 2,788,787 54,214 4,351 58,565 38.5805 107,593 54,214 4,351 10,617 8,386 26,932 1,949 1,143 21,546 24,239 81,146 2028 22 047,037 25 208,361 3,161,324 61,456 4,932 66,388 38.5805 121,965 61,456 4,932 12,036 9,506 30,530 2,210 1,296 24,424 27,477 91,986 2029 22,047,037 25,586,487 3,539,450 68,807 5,522 74,328 38.5805 136,554 68,807 5,522 13,475 10,643 34,182 2,474 1,451 27,345 30,763 102,988 2030 22 047,037 25 970,284 3,923,247 76,268 6,120 82,388 38.5805 151,361 76,268 6,120 14,937 11,797 37,888 2,742 1,609 30,310 34,099 114,156 2031 22,047,037 26,359,838 4,312,801 83,841 6,728 90,569 38.5805 166,390 83,841 6,728 16,420 12,969 41,650 3,015 1,768 33,320 37,485 125,491 2032 22 047,037 26 755,236 4,708,199 91,527 7,345 98,872 38.5805 181,645 91,527 7,345 17,925 14,158 45,468 3,291 1,930 36,375 40,922 136,996 2033 22 047 037 27 156 564 5 109 527 99 329 7,9711 107 300 38.5805 197 128 99 329 7 971 19 453 15 364 49 344 3 572 2 095 39 475 44 410 148 673 2034 22 047,037 27 563,913 5 516 876 107 248 8,606 115,854 38.5805 212,844 107 248 8,606 21 004 16,589 53,278 3 856 2 262 42 622 47,950 160 526 828,2031 1 66,4611 894,664 1,643,646 828,203 66,4611 162,1981 128,1071 411,4301 29,7801 17,4671 329,1441 370,2871 1,239,633 Discount rate 0.04 Discount rate 0.04 NPV= 600,360 1 NPV= 1,102,961 Local Capture Detail-Breakdown by Taxing Entity Local Capture Detail-Breakdown by Taxing Entity All IN Value with City of Capital Area Annual Non- City of City of Lansing Ingham County Ingham County Inflation- Lansing District All in: School Tax Lansing Lansing Community Ingham CCRA Zoo 9.6573 Mills 9.6573 Mills City of 2.25%growth 19.4400 Library Non-School Tax Capture 19.4400 Library College CATA County .699000 0.41 (801/6I20%Rev. (901/6I10%Rev. Lansing+ Date Baseline Value rate Increment Mills 1.56000 City capture only Capture Millage Available Mills 1.5600 3.8072 Mills 3.0070 Mills 9.6573 Mills Mills Mills Sharing) Sharing) County 2019 22,047,037 22,047,037 0 0 0 0 38.5805 0 0 0 0 0 0 0 0 0 0 0 2020 22,047,037 22 543 095 496.058 9,643 774 10,417 38.5805 19,138 9,643 774 1,889 1,492 4,791 347 203 3,832. 4,312 14,434 2021 22 047,037 23 050,315 1,003,278 19,504 1,565 21,069 38.5805 38,707 19,504 1,565 3,820 3,017 9,689 7011 411 7,751 8,720 29,193 2022 22,047,037 23,568,947 1,521,910 29,586 2,374 31,960 38.5805 58,716 29,586 2,374 5,794 4,576 14,698 1,064 624 11,758 13,228 44,283 2023 22 047,037 24 099,248 2,052,211 39,895 3,201 43,096 38.5805 79,175 39,895 3,201 7,813 6,171 19,819 1,434 841 15,855 17,837 59,714 2024 22,047,037 24,641,481 2,594,444 50,436 4,047 54,483 38.5805 100,095 50,436 4,047 9,878 7,801 25,055 1,814 1,064 20,044 22,550 75,491 2025 22,047,037 25,195,915 3,148,878 61,214 4,912 66 126 38.5805 121 485 61,214 4,912 11,988 9,469 30,410 2,201 1,291 24,328 27,369 91,624 2026 22,047,037 25,762,823 3,715,786 72,235 5,797 78,032 38.5805 143,357 72,235 5,797 14,147 11,173 35,884 2,597 1,523 28,708 32,296 108,119 2027 22,047,037 26,342,486 4,295,449 83,5041 6,701 90,204 38.5805 165,721 83,504 6,701 16,354 12,916 41,482 3,003 1 761 33 186 37,334 124,986 20281 22,047,037 26,935,1921 4,888,155 95,026 7,626 102,651 38.5805 188.587 95,026 7.626 18,610 14,699 47.206 3.417 2,004 37.765 1 42,486 142,232 2029 22,047,037 27,541,234 5,494,197 106,807 8,571 115,378 38.5805 211,969 106,807 8,571 20,918 16,521 53,059 3,840 2,253 42,447 47,753 159,866 2030 22,047,037 28,160,912 6,113,875 118,854 9,538 128,391 38.5805 235,876 118,854 9,538 23,277 18,384 59,044 4,274 2,507 47,235 53,139 177,897 2031 22,047,037 28,794,532 6,747,495 131,171 10,526 141,697 38.5805 260,322 131,171 10,526 25,689 20,290 65,163 4,716 2,766 52,130 58,646 196,334 2032 22,047,037 29,442,409 7,395,372 143,766 11 537 155,303 38.5805 285,317 143,766 11,537 28,156 22,238 71,419 5,169 3,032 57,135 64,277 215,185 2033 22,047,037 30,104,864 8,057,827 156,644 12,570 169,214 38.5805 310,875 156,644 12,570 30,678 24,230 77,817 5,632 3,304 62,253 70,035 234,461 2034 22,047,037 30,782,223 8,735,186 169 812 71 183,439, 38.5805 337 008 169 812 13 627 33 257 26 267 84 358 6 106 3 581 67 487 75 922 25411 4 170 1,288,097 103,366 1,391,463 2,556,349 1,288,097 103,366 252,266 199,244 639,894 46,316 27,167 511,915 575,904 1,927,991 Discount rate 04 Discount rate 0.04 NPV= 931,815 NPV= 1,711,899 All-in Non-School Tax Capture Millage Not included in TIF Capture Taxing Authority Millage Rate Taxing Authority Millage Rate Lansing Oper 19.4400 Ingham Cnty Sum 6.8000 Lansing Debt 0.2600 2019 Winter Ingham County 3.2800 Lansing School Debt 4.6000 8.9560 LCC 3.8072 Lansing School Oper 18.0000 CATA 3.0070 Lansing School Sink 2019 Summer CADL 1.5600 Ingham Intermediate 4.7062 63.6134 Airport Auth/CRAA 0.6990 State Education 6.0000 Zoo Millage 0.4100 2019 Total 39.0032 33.5662 72.5694 County Total 10.0800