FLINT TWP. — The agenda for the April 16 township board meeting includes three public hearings to finalize plans to establish a Downtown Development Authority (DDA) and a Corridor Improvement Authority (CIA) for Beecher Road and Bristol Road.
Plans for project development and tax increment financing (TIF) for all three authorities will be presented and discussed.
A copy of the draft Development and Tax Increment Financing Plan, including maps, are available for public inspection at the Township Hall from 8 am to 5:30 pm Monday through Thursday or can be viewed on the township website at www.flinttownship.org
Planners are on track to finalize all three authorities by May, in order to make 2017 the base year for capturing TIF funds that would be used to pay for proposed projects.
The DDA district is located near the I-75 and I-69 freeways primarily along South
Linden Road, Corunna Road, Lennon Road, Miller Road and Bristol Road. The area comprises much of the township’s commercial and industrial uses.
The plans are expected to be in place for 30 years but will take at least 10 years before any substantial revenue is generated. According to estimates stated in the plan, it could generate about $26.8 million in captured revenue by the final year – 2047. But the fund will build slowly starting with projected revenue of about $53,194 in 2018, $106,532 in 2019 $160,404 in 2020.
Several major improvements targeted by the DDA Board include an estimated $7 million in road improvements, $3.4 million in sewer upgrades; $1.7 million in streetscaping and beautification; $2.5 million each for façade uplifts and blight control, $1.7 million each for marketing or branding activities, conducting studies to improve the DDA district and acquisition of property and $4.6 million to facilitate fire and police protection.
Similar cost estimates are stated for the CIAs with a 30-year projected total of about $2.7 million for the Bristol CIA and about $1.5 million for the Beecher CIA.
Project objectives for the CIAs will be to correct and prevent deterioration, encourage historic preservation, and to promote the economic growth.
The three authorities held their first meeting on March 15 and elected officers. Win Cooper, president of Copper Commercial real estate, was chosen as chairman of the 11-member EDA.
Brad Khirfan of Khirfan’s Market was elected chairman of the Bristol Road CIA and
Brandon Bird of Huntington Bank was elected chairman of the Beecher Road CIA.