Will new taxes be imposed to fund a Corridor Improvement Authority?
The financing of a Corridor Improvement Authority district does not include new taxes or millage increases. Instead, the principal source of revenue allowed by the Act is tax increment financing (TIF) revenue. This TIF revenue is realized through the capture of a portion of the existing taxes from the Township, County, Oakland Community College, and Huron Clinton Metropark Authority taxes. Each of these taxing jurisdictions must agree to participate in this tax capture process. School district taxes are not part of this tax capture process.

The intent of the TIF process is that the economic redevelopment efforts of the Corridor Improvement Authority will increase the property values of the land within the district, which allows for more of the existing taxes to be captured. A Corridor Improvement Authority may also levy a special assessment and/or issue revenue bonds for approved projects with the approval of the Township Board. TIF and revenue bonds can only be used to finance projects that are included in the Corridor Improvement Authority’s Development Plan. Development Plans and TIF Plans must be adopted by the Township Board as an ordinance after a public hearing, notice of which must be mailed to all property owners within the district and to all taxing jurisdictions.

Therefore, a Corridor Improvement Authority cannot finance projects without first informing the public through a formal public hearing process and receiving the Township Board’s approval through the adoption or amendment of the Development Plan by ordinance.

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1. Will new taxes be imposed to fund a Corridor Improvement Authority?
2. Is the Corridor Improvement Authority going to condemn or take my house?