DDA looks to expand its boundaries

[torgo]

If not in the DDA TIF zone, those taxes would go where? (I'm not sure, the city?) Are there even taxes due, because of the Brownfield, for a certain period of time?

And why would the DDA want to turn around and collect taxes from me? Doesn't that discourage me from redeveloping the site in the first place?

I need the 6th grade explanation of all this.

[GRDadof3]

A DDA collects no extra tax. Meaning, if you own property within a DDA district, you don't pay extra tax because of it. Rather, the taxes that would normally go to the city, county and GRCC instead are re-directed to the DDA. The benefit of that is you get a bunch of tax money that can only be spent within the DDA development area. If you are the property owner, the amount of tax you pay has nothing to do with whether or not you are in a DDA district or not. (I think)

[Veloise]

It's to be vacated?!

Man, that's a prime piece of property...I just assumed they'd sell it before they left (why vacate property you own?).

[DwntwnGeo]

It looks like the request has been approved. It sounds like the size of the DDA will expand but the percent of property tax dollars they get will be decreased. Doing this will expand the area of the DDA but keep their budget about the same size. The story is on Mlive.com

"City commissioners have given their final approval to a proposal that will extend the DDA and its tax authority further into the fringes of the downtown area.

To compensate for the expanded territory, the DDA will reduce the amount of taxes it captures from improvements in the downtown area."

The short article is here:

New plan for Downtown Dev. Authority approved

[Eridony]

It looks like the request has been approved. It sounds like the size of the DDA will expand but the percent of property tax dollars they get will be decreased. Doing this will expand the area of the DDA but keep their budget about the same size. The story is on Mlive.com