The House Local Government Committee continued with presentations on Tax Increment Financing this week. The League testified in regards to the importance of these types of economic development tools and their role in revitalizing not only local economies but economics surrounding it. The lack of reporting compliance is continual discussed by many legislators and state departments. The League discussed the importance of reporting compliance but also discussed some of the duplicity when it comes to reporting to the state that is currently happening with TIFs and that is causing confusion among many local units. The Michigan Townships Association as well as the Michigan Downtown Association also testified in support of these tools.
There will be additional presentations next week. Currently, there is not legislation introduced.
Nikki is a legislative associate for the League handling economic development, land use, and municipal services issues. She can be reached at email@example.com or 517-908-0305.