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Approved by DDA 3/5/03 Approved by Township Board 4/8/03
- 14 -
Table 1 NORTHFIELD TOWNSHIP
DOWNTOWN DEVELOPMENT AUTHORITY
DEVELOPMENT AND TAX INCREMENT FINANCING PLAN
2003 – 2033
PROJECT
NUMBER
DECRIPTION COMPLETION
DATE
ESTIMATED
BUDGET
FINANCE
METHOD
1 North Territorial/US
– 23 Overpass
2006 $28,000,000 DDA/
Private
2 Develop Identity
Plan
2003 - 2004 $5,000 DDA
3 Identity Program:
Signage, Streetscape,
Lighting
Improvements, etc.
2002 - 2010 $500,000 DDA/MEDC/DTE
Energy/Private
4 Parking
Improvements
2005 - 2018 $1,000,000 DDA/MEDC
5 Utility Improvements 2005 - 2015 $15,000,000 DDA/Special
Assessment/
MEDC
6 Street Improvements 2008 – 2033 $5,000,000 DDA/MDOT/
WC Rd.
Comm./Special
Assessment/MDOT
7 Business Attraction
Effort
2003 - 2033 $350,000 +
other
partners
DDA
8 Façade and Business
Loan Program
2005 - 2015 $125,000 DDA/Private Sources
9 Develop Community
Programming
2002 - 2033 $150,000 +
other
partners
DDA/Chamber of
Commerce/Community
10 DDA Administration 2003 – 2033 $2,000,000 DDA
TOTAL COSTS
$52,130,000

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Dda p14

  • 1. Approved by DDA 3/5/03 Approved by Township Board 4/8/03 - 14 - Table 1 NORTHFIELD TOWNSHIP DOWNTOWN DEVELOPMENT AUTHORITY DEVELOPMENT AND TAX INCREMENT FINANCING PLAN 2003 – 2033 PROJECT NUMBER DECRIPTION COMPLETION DATE ESTIMATED BUDGET FINANCE METHOD 1 North Territorial/US – 23 Overpass 2006 $28,000,000 DDA/ Private 2 Develop Identity Plan 2003 - 2004 $5,000 DDA 3 Identity Program: Signage, Streetscape, Lighting Improvements, etc. 2002 - 2010 $500,000 DDA/MEDC/DTE Energy/Private 4 Parking Improvements 2005 - 2018 $1,000,000 DDA/MEDC 5 Utility Improvements 2005 - 2015 $15,000,000 DDA/Special Assessment/ MEDC 6 Street Improvements 2008 – 2033 $5,000,000 DDA/MDOT/ WC Rd. Comm./Special Assessment/MDOT 7 Business Attraction Effort 2003 - 2033 $350,000 + other partners DDA 8 Façade and Business Loan Program 2005 - 2015 $125,000 DDA/Private Sources 9 Develop Community Programming 2002 - 2033 $150,000 + other partners DDA/Chamber of Commerce/Community 10 DDA Administration 2003 – 2033 $2,000,000 DDA TOTAL COSTS $52,130,000