ADOPTED - NOVEMBER 12, 2003

Agenda Item No. 13

Introduced by the County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION APPROVING A TAX SHARING AGREEMENT BETWEEN THE COUNTY OF INGHAM AND THE DELHI CHARTER TOWNSHIP DDA

RESOLUTION #03-289

WHEREAS, Delhi Charter Township has proposed an amendment to its DDA's existing Development and Tax Increment Financing Plan which would extend the life of the plan through 2024; and

WHEREAS, in regards to existing DDA's, statute provides for a voluntary sharing tax sharing agreement between the DDA and the local governments whose taxes are captured; and

WHEREAS, Delhi Charter Township and its DDA have proposed a voluntary tax sharing agreement with Ingham County; and

WHEREAS, representatives of the Township, the DDA, and the County have arrived at an agreement which they are recommending to be the basis of a voluntary tax sharing agreement; and

WHEREAS, the Delhi Charter Township Board of Trustees and the DDA Board have agreed that no future amendments to their plan will be made which have the effect of modifying the tax sharing as described in their proposal without the prior consent of the County.

THEREFORE BE IT RESOLVED, that the Ingham County Board of Commissioners approve a voluntary tax sharing agreement with the Delhi Charter Township DDA based on the following:

• For the six (6) year period commencing in 2005 through 2010, the DDA will retain eighty percent (80%) of the assessed/taxable valuation which would have been captured but for this Agreement and the County will retain twenty percent (20%), i.e., the DDA will continue to retain 80% of the captured tax revenue and the remaining 20% shall be paid to the County.

• For the five (5) year period commencing in 2011 through 2015, the DDA will retain sixty percent (60%) of said captured assessed/taxable value and the County will retain forty percent (40%), i.e., the DDA will continue to retain 60% of the captured tax revenue and the remaining 40% shall be paid to the County.



• For the five (5) year period commencing 2016 through 2020, the DDA will retain forty percent (40%) of said captured assessed/taxable value, and the County sixty percent (60%), i.e., 40% of the captured tax revenue will continue to be retained by the DDA and the remaining 60% shall be paid to the County.



• For the four (4) year period commencing in 2021 through 2024, the DDA will retain twenty-five percent (25%) of said captured assessed/taxable value, and the County will continue to retain seventy-five percent (75%), i.e., the DDA will continue to retain 25% of the captured tax revenue

ADOPTED - NOVEMBER 12, 2003

Agenda Item No. 13

RESOLUTION #03-289

and the remaining 75% shall be paid to the County. After 2024, no further capture of tax revenue will be made by the DDA.

BE IT FURTHER RESOLVED, that distribution of revenue resulting from the reduced capture described above will be made by the DDA on July 1, 2005 (actually in advance of the 2005 tax collection) and shall continue annually on the 1^st day of July in each year thereafter until all distributions required by the agreement have been made.

BE IT FURTHER RESOLVED, that the County acknowledges and agrees that the DDA and the Delhi Charter Township Board of Trustees (the governing body of the municipality) may from time to time amend the Plan as they deem appropriate pursuant to the Act; provided, however, that no such amendment shall have the effect of modifying the provisions of the agreement relating to tax sharing without the consent of the County.

BE IT FURTHER RESOLVED, that the Board of Commissioners thanks the officials and staff of Delhi Township and the Delhi DDA for their initiative in proposing a voluntary tax sharing agreement which recognizes the financial needs of other taxing units and enables the continuing development of the township.

BE IT FURTHER RESOLVED, that the Board Chair and County Clerk are authorized to sign the agreement as recommended by the County Controller and as approved as to form by the County Attorney.

COUNTY SERVICES: Yeas: Celentino, Holman, De Leon, Schor, Severino, Nevin

Nays: None Absent: None Approved 11/4/03

FINANCE: Yeas: Grebner, Swope, Dedden, Hertel, Thomas

Nays: None Absent: Minter Approved 11/5/03