A DDA is typically created to zone out property in a community'sdowntown for revitalization. Funding is provided by a tax incrementfinancing authority, which captures taxes from the businesseswithin the zone, and a department or board is set up by the city toimprove infrastructure, encourage new development and createprograms that help area businesses.

Most of the DDA's in Michigan were created in the late 1970s andearly 1980s, most with 30-year life spans. Now, many communitiesare looking at either keeping or discarding the authorities.

Susan Pollay of the Ann Arbor DDA says that her authority wantsto extend its usefulness, and has proposed an eight-point plan tocontinue rebuilding the downtown area. The city's downtown, inlarge part taken up by the campus of the University of Michigan,began its DDA in 1982.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.