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CITY OF MUSKEGON LAKESIDE BUSINESS IMPROVEMENT DISTRICT- CORRIDOR IMPROVEMENT AUTHORITY BOARD MEETING DATE OF MEETING: September 24, 2025 TIME OF MEETING: 9:00 a.m. PLACE OF MEETING: City Hall Room 204, 933 Terrace St, Muskegon, MI AGENDA I. Roll Call II. Approval of minutes – August 27, 2025 III. CIA Agenda Items – Isabela Gonzalez A. CIA Financial Statement – August 31, 2025 IV. BID Agenda Items – Isabela Gonzalez A. BID Financial Statement – August 31, 2025 B. Public Safety Presentation C. Holidays in the City Donation D. Discussion: Attendance E. Discussion: Consideration of a Corridor Improvement Plan F. Discussion: City Sign Ordinance V. Adjourn AMERICAN DISABILITY ACT POLICY FOR ACCESS TO OPEN MEETING OF THE CITY COMMISSION AND ANY OF ITS COMMITTEES OR SUBCOMMITTEES To give comment on a live-streamed meeting the city will provide a call-in telephone number to the public to be able to call and give comment. For a public meeting that is not live-streamed, and which a citizen would like to watch and give comment, they must contact the City Clerk’s Office with at least a two-business day notice. The participant will then receive a zoom link which will allow them to watch live and give comment. Contact information is below. For more details, please visit: www.shorelinecity.com The City of Muskegon will provide necessary reasonable auxiliary aids and services, such as signers for the hearing impaired and audio tapes of printed materials being considered at the meeting, to individuals with disabilities who want to attend the meeting, 24- hour notice to the City of Muskegon. Individuals with disabilities requiring auxiliary aids or services should contact the City of Muskegon by writing or calling the following: Ann Marie Cummings, City Clerk at 933 Terrace Street, Muskegon, MI 49440 or by calling (231) 724-6705 or TTY/ TDD: Dial 7-1-1 and request that representative dial 231-724-6705 DEVELOPMENT SERVICES LAKESIDE BUSINESS IMPROVEMENT DISTRICT- CORRIDOR IMPROVEMENT AUTHORITY REGULAR BOARD MEETING August 27, 2025 MEETING MINUTES Meeting called to order at 9:09 am by S. Wilson I. ROLL CALL MEMBERS PRESENT: M. Lyonnais, E. Bodman, M. Smith, L. Hopson, S. Wilson MEMBERS ABSENT: C. Castle, D. Ghezzi (A), M. Flermoen (E), R. Jenkins (A) OTHERS PRESENT: J. Hines, I. Gonzalez, W. Webster II. Approval of Minutes – M. Smith made a motion to approve the minutes from July 16, 2025. Supported by M. Lyonnais with all in favor. III. CIA Financial Statement – July 31, 2025 – I. Gonzalez. As of July 31, 2025, the fund balance is $60,045.26. As a reminder, at the December 2024 meeting, the board approved a transfer of up to $15,213.00 to the Lakeside BID to cover additional expenses. This transfer will be made on an asneeded basis. L. Hopson made a motion to accept the Lakeside Corridor Improvement Authority financial statement as of July 31, 2025 and supported by M. Smith. Roll call was taken. Ayes: M. Lyonnais, E. Bodman, M. Smith, L. Hopson, S. Wilson Nays: None IV. A. BID Financial Statement– July 31, 2025 – I. Gonzalez - As of July 31, 2025, the fund balance is $22,706.65. L. Hopson made a motion to accept the Lakeside BID financial statement as of July 31, 2025 and supported by M. Smith. Roll call was taken. Ayes: M. Lyonnais, E. Bodman, M. Smith, L. Hopson, S. Wilson Nays: None B. Pedestrian Signage – Discussion Only. After discussions with the City’s Traffic Department, the City has agreed to accept a donation from the Lakeside BID/CIA for Lakeshore Drive pedestrian signage. In exchange, the City will handle the replacement, storage, and placement of signs at crosswalks along Lakeshore Drive. M. Smith stated the BID should not be contributing as it falls in the city’s role of responsibility. E. Bodman stated that there should be signage for bicyclists and enforcements as they are riding on sidewalks. Another member brought up if the speed limit could be lowered to 25mph. Are speed bumps an option? A request to invite Chief Kozal to a future meeting for clarifications on questions and concerns. C. Holidays in the City – Discussion only. The City Communications team is preparing promotional materials for this year’s winter holiday events. If there are any activities, dates, or events happening in Lakeside, now is the time to bring them forward so we can discuss, prepare, and include them. Review of the 2025 Holidays in the City calendar with minor changes. No other events to be added from Lakeside Further discussion: Director of DPW would like to install 2 EV chargers in the Lakeside area. Locations TBD V. Adjournment at 10:00 am 231.724.6705 | 933 Terrace St, Muskegon, MI 49440-1397 | www.shorelinecity.com Lakeside Corridor Improvement Authority Agenda Items III-A for September 24, 2025 Financial Statement as of 08-27-2025 Requesting Party: City Economic Development Outline of Request: Staff is asking the Lakeside CIA to review and accept the CIA financial statement as of August 31, 2025. Staff Comments: As of August 31, 2025, the fund balance is $60,120.35. The monthly interest from April to July was recently posted, totaling 75.09. No transfers from the CIA account to the BID have occurred. Staff Recommendation: To accept the Lakeside CIA financial statement as of August 31, 2025. Suggested Motion: I move to accept the Lakeside Corridor Improvement Authority financial statement as of August 31, 2025. LAKESIDE CIA FINANCIAL FOR 08/31/2025 Revenues 2024 ACTUAL 2025 BUDGET 31-Aug-25 Special Assessments $ 22,198.00 $ 37,103.00 $ 36,584.00 Interest Income $ 97.88 $ 75.00 $ 112.00 Total $ 22,295.88 $ 37,178.00 $ 36,696.00 Expenses 2024 ACTUAL 2025 BUDGET 31-Aug-25 Landscaping $ - $ - $ - Holiday Decorations $ - $ - $ - Snow Removal $ - $ - $ - Contingency $ - $ - $ - Transfer to Lakeside BID $ 6,374.17 $ 15,213.00 $ - Advertising $ - $ - $ - Total Expenses $ 6,374.17 $ 15,213.00 $ - Net Rev/Expenses $ 15,921.71 $ 21,965.00 $ 36,696.00 Fund Balance at Beginning of Year $ 7,502.64 $ 23,424.35 Fund Balance at End of Year $ 23,424.35 $ 60,120.35 O:\Planning\COMMON\BID & CIA-Lakeside\Lakeside CIA-BID 2025\Lakeside BID-CIA 9 24 25\Lakeside CIA August 2025.xlsx Lakeside Business Improvement District Agenda Items IV-A for September 24, 2025 Financial Statement as of 8-27-2025 Requesting Party: City Economic Development Outline of Request: Staff is asking the Lakeside BID to review and accept the BID financial statement as of August 31, 2025. Staff Comments: As of August 31, 2025, the fund balance is $22,927.77. The additional $200 to Muskegon Ax Throwing was returned Staff Recommendation: To accept the Lakeside BID financial statement as of August 31, 2025. Suggested Motion: I move to accept the Lakeside Business Improvement District financial statement as of August 31, 2025. LAKESIDE BID FINANCIAL FOR 08/31/2025 Revenues 2024 ACTUAL 2025 BUDGET 31-Aug-25 Special Assessments $ 22,239.23 $ 21,645.23 $ 22,448.23 Interest Income $ 69.66 $ 150.82 $ 24.37 Grant (MML Foundation) $ - $ - Lakeside District Assoc. (split cost Christmas) $ - $ - Lakeside Neighborhood Assoc. $ - $ - $ - Fall Festival $ 800.00 $ - $ 200.00 Transfer from General fund for Snow Removal $ - $ 3,266.00 $ 3,920.00 Intended CIA Transfer $ 6,374.17 $ 15,212.94 $ - Total $ 29,483.06 $ 40,274.99 $ 26,592.60 Expenses 2024 ACTUAL 2025 BUDGET 31-Aug-25 Landscaping $ - $ 1,000.00 $ - Holiday Decorations $ 3,297.36 $ 1,000.00 $ - Snow Removal $ 23,000.00 $ 23,000.00 $ - Transfer to DDA $ 600.00 $ - $ - Fall Festival Expenses/Events $ 3,497.99 $ 12,000.00 $ 2,395.00 Advertising $ 7,156.30 $ 6,279.00 $ 1,283.70 Total Expenses $ 37,551.65 $ 43,279.00 $ 3,678.70 Net Rev/Expenses $ (8,068.59) $ (3,004.01) $ 22,913.90 Fund Balance at Beginning of Year $ 8,082.46 $ 13.87 Fund Balance at End of Year $ 13.87 $ 22,927.77 O:\Planning\COMMON\BID & CIA-Lakeside\Lakeside CIA-BID 2025\Lakeside BID-CIA 9 24 25\Lakeside Bid August 2025.xlsx GL ACTIVITY REPORT FOR CITY OF MUSKEGON From 01/01/2025 to 08/31/2025 Date JNL Type Description Reference # Debits Credits Balance 01/01/2025 231-000-001 CASH IN BANK BEG. BALANCE 23,424.35 01/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011096 9.76 23,434.11 02/28/2025 GJ JE INTEREST ON INVESTMENTS 0000011147 9.76 23,443.87 03/06/2025 GJ JE TAX CAPTURE FOR LAKESIDE CIA 0000010956 36,584.00 60,027.87 03/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011233 17.39 60,045.26 04/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011494 25.02 60,070.28 05/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011506 25.03 60,095.31 06/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011535 25.04 60,120.35 07/01/2025 25-26 Fiscal Year Begin 60,120.35 08/31/2025 END BALANCE 36,696.00 60,120.35 01/01/2025 231-000-399 FUND BALANCE UNRESERVED BEG. BALANCE (29,750.24) 07/01/2025 25-26 Fiscal Year Begin (29,750.24) 08/31/2025 END BALANCE (29,750.24) 01/01/2025 231-000-402 PROPERTY TAX BEG. BALANCE 0.00 03/06/2025 GJ JE TAX CAPTURE FOR LAKESIDE CIA 0000010956 36,584.00 (36,584.00) 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 36,584.00 0.00 01/01/2025 231-000-665-004970 INCOME TAX-PENALTY & INTEREST BEG. BALANCE (48.28) 01/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011096 9.76 (58.04) 02/28/2025 GJ JE INTEREST ON INVESTMENTS 0000011147 9.76 (67.80) 03/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011233 17.39 (85.19) 04/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011494 25.02 (110.21) 05/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011506 25.03 (135.24) 06/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011535 25.04 (160.28) 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 112.00 0.00 01/01/2025 231-717-995-200000 BUDGETED OTHER FINANCING USES BEG. BALANCE 6,374.17 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 0.00 01/01/2025 286-000-001 CASH IN BANK BEG. BALANCE 13.87 01/15/2025 GJ JE RECORD TRANSFER LAKESIDE BID SNOW REM 0000010797 3,920.00 3,933.87 01/17/2025 CD CHK SUMMARY CD 01/17/2025 225.00 3,708.87 01/24/2025 CD CHK SUMMARY CD 01/24/2025 375.00 3,333.87 01/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011096 0.70 3,334.57 02/28/2025 GJ JE INTEREST ON INVESTMENTS 0000011147 1.39 3,335.96 03/28/2025 CD CHK SUMMARY CD 03/28/2025 1,100.00 2,235.96 03/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011233 1.16 2,237.12 04/02/2025 GJ JE TO POST LAKESIDE BID COLLECTIONS 0000011077 16,645.47 18,882.59 04/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011494 4.40 18,886.99 05/15/2025 CR RCPT CASH IN BANK 792.00 19,678.99 05/30/2025 CD CHK SUMMARY CD 05/30/2025 200.00 19,478.99 05/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011506 7.99 19,486.98 06/06/2025 CD CHK SUMMARY CD 06/06/2025 895.00 18,591.98 06/13/2025 CD CHK SUMMARY CD 06/13/2025 683.70 17,908.28 06/20/2025 CD CHK SUMMARY CD 06/20/2025 200.00 17,708.28 06/30/2025 GJ JE DIST OF FUNDS FROM 2024 SETTLEMENT 0000011370 4,702.76 22,411.04 06/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011535 8.73 22,419.77 07/01/2025 25-26 Fiscal Year Begin 22,419.77 07/29/2025 CR RCPT CASH IN BANK 308.00 22,727.77 08/19/2025 CRD RCPT CASH IN BANK 0100972808 200.00 22,927.77 08/31/2025 END BALANCE 26,592.60 3,678.70 22,927.77 01/01/2025 286-000-202 ACCOUNTS PAYABLE BEG. BALANCE 0.00 01/07/2025 AP INV MY SOCIAL NETWORTH LLC 0663 375.00 (375.00) 01/14/2025 AP INV LOUISE HOPSON 4TH QTR MEDIA 225.00 (600.00) 01/17/2025 CD CHK SUMMARY CD 01/17/2025 225.00 (375.00) 01/24/2025 CD CHK SUMMARY CD 01/24/2025 375.00 0.00 03/10/2025 AP INV GABRIELLE ANNE MILLER 1A 1,100.00 (1,100.00) 03/28/2025 CD CHK SUMMARY CD 03/28/2025 1,100.00 0.00 05/10/2025 AP INV MUSKEGON AXE THROWING 7B3644D7-0002 200.00 (200.00) 05/21/2025 AP INV MUSKEGON AXE THROWING 7B3644D7-002 200.00 (400.00) 05/30/2025 CD CHK SUMMARY CD 05/30/2025 200.00 (200.00) 06/03/2025 AP INV CARIBOU SERVICES, INC I53507 895.00 (1,095.00) 06/03/2025 AP INV LAWSON PRINTERS, INC. 102944 683.70 (1,778.70) 06/06/2025 CD CHK SUMMARY CD 06/06/2025 895.00 (883.70) 06/13/2025 CD CHK SUMMARY CD 06/13/2025 683.70 (200.00) 06/20/2025 CD CHK SUMMARY CD 06/20/2025 200.00 0.00 09/08/2025 10:40 AM Page: 1/2 GL ACTIVITY REPORT FOR CITY OF MUSKEGON From 01/01/2025 to 08/31/2025 Date JNL Type Description Reference # Debits Credits Balance 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 3,678.70 3,678.70 0.00 01/01/2025 286-000-399 FUND BALANCE UNRESERVED BEG. BALANCE (21,491.17) 07/01/2025 25-26 Fiscal Year Begin (21,491.17) 08/31/2025 END BALANCE (21,491.17) 01/01/2025 286-000-451 SPECIAL ASSESSMENTS BEG. BALANCE (594.00) 04/02/2025 GJ JE TO POST LAKESIDE BID COLLECTIONS 0000011077 16,645.47 (17,239.47) 05/15/2025 CR RCPT SPECIAL ASSESSMENTS 792.00 (18,031.47) 06/30/2025 GJ JE DIST OF FUNDS FROM 2024 SETTLEMENT 0000011370 4,702.76 (22,734.23) 07/01/2025 25-26 Fiscal Year Begin 0.00 07/29/2025 CR RCPT SPECIAL ASSESSMENTS 308.00 (308.00) 08/31/2025 END BALANCE 22,448.23 (308.00) 01/01/2025 286-000-665-004970 INTEREST INCOME BEG. BALANCE (40.27) 01/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011096 0.70 (40.97) 02/28/2025 GJ JE INTEREST ON INVESTMENTS 0000011147 1.39 (42.36) 03/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011233 1.16 (43.52) 04/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011494 4.40 (47.92) 05/31/2025 GJ JE INTEREST ON INVESTMENTS 0000011506 7.99 (55.91) 06/30/2025 GJ JE INTEREST ON INVESTMENTS 0000011535 8.73 (64.64) 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 24.37 0.00 01/01/2025 286-000-684 MISC. & SUNDRY BEG. BALANCE (800.00) 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 0.00 01/01/2025 286-000-699-100000 OPERATING TRANSFERS IN BEG. BALANCE 0.00 01/15/2025 GJ JE RECORD TRANSFER LAKESIDE BID SNOW REM 0000010797 3,920.00 (3,920.00) 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 3,920.00 0.00 01/01/2025 286-000-699-200000 OPERATING TRANSFERS IN BEG. BALANCE (6,374.17) 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 0.00 01/01/2025 286-704-801 CONTRACTUAL SERVICES BEG. BALANCE 28,685.74 01/07/2025 AP INV MY SOCIAL NETWORTH LLC 0663 375.00 29,060.74 01/14/2025 AP INV LOUISE HOPSON 4TH QTR MEDIA 225.00 29,285.74 03/10/2025 AP INV GABRIELLE ANNE MILLER 1A 1,100.00 30,385.74 05/10/2025 AP INV MUSKEGON AXE THROWING 7B3644D7-0002 200.00 30,585.74 05/21/2025 AP INV MUSKEGON AXE THROWING 7B3644D7-002 200.00 30,785.74 06/03/2025 AP INV CARIBOU SERVICES, INC I53507 895.00 31,680.74 06/03/2025 AP INV LAWSON PRINTERS, INC. 102944 683.70 32,364.44 07/01/2025 25-26 Fiscal Year Begin 0.00 08/19/2025 CRD RCPT CONTRACTUAL SERVICES 0100972808 200.00 (200.00) 08/31/2025 END BALANCE 3,678.70 200.00 (200.00) 01/01/2025 286-704-995-200000 BUDGETED OTHER FINANCING USES BEG. BALANCE 600.00 07/01/2025 25-26 Fiscal Year Begin 0.00 08/31/2025 END BALANCE 0.00 Grand Total 70,646.00 70,646.00 31,298.71 09/08/2025 10:40 AM Page: 2/2 Lakeside Business Improvement District Agenda Items IV-C for September 24, 2025 Holidays in the City Donation Requesting Party: City Economic Development Outline of Request: Staff is asking the Lakeside BID for a $500 donation to the City Communications team for the Holiday Brochures. Staff Comments: Staff Recommendation: To accept the request to approve a $500 donation to the City Communications team for the Holiday Brochures. Suggested Motion: I move to approve a $500 donation from the Lakeside Business Improvement District to the City Communications team for the Holiday Brochures. Lakeside Business Improvement District Agenda Items IV-D for September 24, 2025 Discussion: Attendance Requesting Party: City Economic Development Outline of Request: Staff is asking the Lakeside BID to confirm attendance expectations: attend scheduled meetings or notify the Chair or staff liaison in advance for an excused absence, confirm the preferred notice method and timing, and record excused absences in the minutes. Staff Comments: N/A Staff Recommendation: N/A Suggested Motion: Discussion Only POLICY RELATIVE TO ATTENDANCE AT CITY MEETINGS ADOPTED SEPTEMBER 14, 1982 The Community Relations Committee presented a policy regarding attendance for the many boards, commissions, and committees serving the City of Muskegon as follows: Attendance Policies: Meetings that meet monthly: - Not more than 3 Unexcused missed meetings during the year - Not more than 4 Excused/Absent missed meetings during the year Meetings that meet quarterly: - Not more than 1 Unexcused missed meeting during the year - Not more than 2 Excused/Absent missed meetings during the year Meetings that meet semiannually: - Not more than 1 Unexcused missed meeting during the year - Not more than 1 Excused/Absent missed meeting during the year Meeting that meet annually: - No Unexcused or Excused missed meetings permitted Definitions of Terms: Unexcused – Does not notify Board Liaison of absence and does not attend meeting. Excused – Notifies Board Liaison of absence at least 72 hours in advance of missed meeting. Absent – Reserved for emergency situations and up to the discretion of the Board Liaison and Community Relations Committee members. Consequently, the Community Relations Committee recommends that, through acceptance of this letter, the City Commission adopt the following policy regarding the attendance of Commission appointees to the various boards, commissions, and committees serving the City of Muskegon. The Chairperson of each board, commission, or committee shall be responsible to see that attendance is recorded at each meeting. When deemed appropriate by the Chairperson, a letter will be sent to any member whose attendance is not satisfactory. The letter shall ask if the member is interested in continues appointment. On an annual basis, each Chairperson shall submit a report to the City Commission showing member attendance and indicating correspondence notices sent to members. At any time, the Chairperson deems it appropriate to do so, that Chairperson may recommend replacement of a member for reasons related to the member’s attendance. Communications to the City Commission shall be sent to the City Clerk for forwarding to the Commission. 4|Page Lakeside Business Improvement District Agenda Items IV-E for September 24, 2025 Discussion: Consideration of a Corridor Improvement Plan Requesting Party: City Economic Development Outline of Request: Staff is asking the Lakeside BID to discuss whether to pursue a Corridor Improvement Plan focused on pedestrian safety and business viability. Staff Comments: The board maintains an adopted Corridor TIF Plan that guides eligible expenditures. Given ongoing business turnover and continuing pedestrian safety concerns, staff recommends a focused discussion on priorities for the primarily seasonal corridor. Staff Recommendation: N/A Suggested Motion: Discussion Only LAKESIDE CORRIDOR IMPROVEMENT AUTHORITY DEVELOPMENT PLAN AND TAX INCREMENT FINANCING PLAN AS RECOMMENDED BY THE LAKESIDE CORRIDOR IMPROVEMENT AUTHORITY ON: APPROVED BY THE MUSKEGON CITY COMMISSION ON: INTRODUCTION General Overview In 2005, the Michigan legislature enacted Public Act 280, the Corridor Improvement Authority Act, allowing cities, villages, and townships to create an authority to: “correct and prevent deterioration in business districts; to encourage historic preservation; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans and development areas in the districts; to promote the economic growth of the districts; to create a board; to prescribe the powers and duties of the board; to authorize the levy and collection of taxes; to authorize the issuance of bonds and other evidences of indebtedness; to authorize the use of tax increment financing; to prescribe powers and duties of certain state officials; to provide for rule promulgation; and to provide for enforcement of the act.” This act was repealed in 2018, and recodified with the passage of Public Act 57 of 2018. Since the adoption of PA 280 in 2005, many local governments have used a Corridor Improvement District (CID) to stimulate economic revitalization of commercial corridors in transition within their community. A Corridor Improvement Authority (CIA) Board is established to create a development plan for a previously‐established Corridor Improvement District (CID). The plan outlines improvements to public or private properties that will prevent further deterioration of property values within the district and encourage new investment. Development plans may be funded by tax increment financing, private or corporate donations, and other grants. The CIA is able to make ongoing strategic investments within the district by using tax increment financing. Through tax increment financing, a portion of the increase in annual property tax revenue resulting from the economic growth and development to facilities, structures or improvements within a development area is reinvested in the corridor and used for infrastructure improvements and facilities enhancement. This investment thereby reinvigorates the development area and facilitates further economic growth and redevelopment. The justification for capturing future tax increment is that new investment would have been restrained within the district without the establishment of the CID; therefore no taxes are lost by the interested taxing jurisdictions for projects not brought to fruition. Additionally, the physical public space improvements that are made along the designated corridor have a direct benefit to the surrounding properties and the potential taxable value of such. Powers of the Authority Detailed powers of the Corridor Improvement Authority board are listed below per 125.2881 Section 11 (1) of PA 280: (a) Prepare an analysis of economic changes taking place in the development area. (b) Study and analyze the impact of metropolitan growth upon the development area. (c) Plan and propose the construction, renovation, repair, remodeling, rehabilitation, restoration, preservation, or reconstruction of a public facility, an existing building, or a multiple‐family dwelling unit which may be necessary or appropriate to the execution of a plan which, in the opinion of the board, aids in the economic growth of the development area. (d) Plan, propose, and implement an improvement to a public facility within the development area to comply with the barrier free design requirements of the state construction code promulgated under the Stille‐DeRossett‐Hale single state construction code act, 1972 PA 230, MCL 125.1501 to 125.1531. (e) Develop long‐range plans, in cooperation with the agency that is chiefly responsible for planning in the municipality, designed to halt the deterioration of property values in the development area and to promote the economic growth of the development area, and take steps as may be necessary to persuade property owners to implement the plans to the fullest extent possible. (f) Implement any plan of development in the development area necessary to achieve the purposes of this act in accordance with the powers of the authority granted by this act. (g) Make and enter into contracts necessary or incidental to the exercise of its powers and the performance of its duties. (h) On terms and conditions and in a manner and for consideration the authority considers proper or for no consideration, acquire by purchase or otherwise, or own, convey, or otherwise dispose of, or lease as lessor or lessee, land and other property, real or personal, or rights or interests in the property, that the authority determines is reasonably necessary to achieve the purposes of this act, and to grant or acquire licenses, easements, and options. (i) Improve land and construct, reconstruct, rehabilitate, restore and preserve, equip, improve, maintain, repair, and operate any building, including multiple‐ family dwellings, and any necessary or desirable appurtenances to those buildings, within the development area for the use, in whole or in part, of any public or private person or corporation, or a combination thereof. (j) Fix, charge, and collect fees, rents, and charges for the use of any facility, building, or property under its control or any part of the facility, building, or property, and Development and Tax Increment Financing Plan. The Lakeside Corridor Improvement Authority pledge the fees, rents, and charges for the payment of revenue bonds issued by the authority. (k) Lease, in whole or in part, any facility, building, or property under its control. (l) Accept grants and donations of property, labor, or other things of value from a public or private source. (m) Acquire and construct public facilities. (n) Conduct market research and public relations campaigns, develop, coordinate, and conduct retail and institutional promotions, and sponsor special events and related activities. (o) Contract for broadband service and wireless technology service in a development area. Notwithstanding any other provision of this act, in a qualified development area the board may, in addition to the powers enumerated in subsection (1), do 1 or more of the following: (a) Perform any necessary or desirable site improvements to the land, including, but not limited to, installation of temporary or permanent utilities, temporary or permanent roads and driveways, silt fences, perimeter construction fences, curbs and gutters, sidewalks, pavement markings, water systems, gas distribution lines, concrete, including, but not limited to, building pads, storm drainage systems, sanitary sewer systems, parking lot paving and light fixtures, electrical service, communications systems, including broadband and high‐speed Internet, site signage, and excavation, backfill, grading of site, landscaping and irrigation, within the development area for the use, in whole or in part, of any public or private person or business entity, or a combination of these. (b) Incur expenses and expend funds to pay or reimburse a public or private person for costs associated with any of the improvements described in subdivision (a). (c) Make and enter into financing arrangements with a public or private person for the purposes of implementing the board's powers described in this section, including, but not limited to, lease purchase agreements, land contracts, installment sales agreements, sale leaseback agreements, and loan agreements. Background and Need for the Plan The City of Muskegon City Commission adopted Resolution Number ________ on March 9th, 2021 after conducting a formal public hearing on October 27th, 2020. That ordinance legally formed the Lakeside Corridor Improvement District and the Corridor Improvement Authority. On__________, the City Commission appointed members to the Lakeside Corridor Improvement Authority board. In the ordinance establishing the Authority, it was determined that a CIA was necessary to: (a) Correct and prevent deterioration within the business district (b) Stimulate property reinvestment (c) Promote economic growth The specific goals of the CIA are to: (a) Encourage the recruitment and retention of businesses and employment (b) Increase accessibility to the businesses in the corridor (c) Improve the overall business climate of the district and deter economic decline (d) Expand the tax base for the district and for the city (e) Enhance the visual aspects of the district while preserving its unique qualities Plan Development Process As development and reinvestment opportunities thrive in the Lakeside corridor, stakeholders have prioritized forward thinking efforts in order to maintain the commercial identity and vision, and preserve the residential neighborhoods that envelope this area. Through the establishment of a Corridor Improvement District (CID) the district now has the potential to provide sustainable revenue support for public improvements and marketing and promotional objectives to help achieve these goals. A Lakeside Business Improvement District (BID) was approved by the Commission and a Special Assessment was passed to meet some of these goals in the short term, with the intention that that TIF capture of the CIA would eventually supplant these funds. This team which was led by business owners and community stakeholders began meeting many years ago as the Lakeside District Association, and has since met on a monthly basis effectively executing the BID legislative process with the city of Muskegon with city staff support. This Development and Tax Increment Financing Plan was developed with assistance from City of Muskegon Economic Development Staff in order to lay groundwork for the improvement projects and services that the Lakeside corridor has been working towards for several years. The LDA has assisted in recruiting BID Board members that have also been appointed as the CIA Board, and these board members have assisted the city in reaching many stakeholders in the corridor through public hearings and meetings to confirm the necessary projects for this CID. DEVELOPMENT AND TAX INCREMENT FINANCING PLAN The Lakeside Corridor Improvement Authority’s stakeholder feedback suggests that a safe and thriving neighborhood commercial center can continue in part through the creation of a tax increment financing district which would be structured to provide economic resources to improve and maintain public infrastructure, correct and prevent deterioration, and promote neighborhood aligned economic growth. A Lakeside Corridor Improvement District Proposal was drafted and a request to create a Corridor Improvement Authority was delivered to the Muskegon City Commission in November of 2019. The resolution to create the CID was approved by the City Commission in February of 2021 and the CIA was appointed in March. The following Development Plan and Tax Increment Financing Plan is a direct result from stakeholder involvement in district revitalization plans that span the past three years. Development Plan Benefits of the Corridor Improvement District and Authority The Lakeside Corridor Improvement Authority recognizes the benefits of commercial property redevelopment to the district and to the City of Muskegon. This formal Development Plan is to be used to outline the priorities and goals of the Authority. The Lakeside Corridor Improvement District Proposal and request to create a Corridor Improvement Authority states that a CID: (a) Utilizes Tax Increment Financing (TIF) to complete public improvement projects according to the approved TIF plan while leveraging other dollars such as earned income and private, state, federal and philanthropic monies for district improvements (b) Generates a clear plan to improve the district, implemented by an empowered neighborhood stakeholder‐government partner framework – a proven national method for success (c) Creates access to additional programs and incentives to businesses such as special approval of liquor licenses within city development districts (d) Establishes a collaborative environment which fosters business investment from existing entrepreneurs and attracts complementary new business growth (e) Encourages job creation, which produces more jobs for neighborhood residents and generates additional personal income tax revenue (f) Encourages surrounding property improvements, increasing values of neighboring properties thus generating more property tax revenue (g) Promotes greater interest in mixed‐use development, broadening business location and residential housing options and increasing the tax base (h) Brings more people into the district to shop for goods and services, thus generating more repeat customers for neighborhood businesses and increasing sales tax revenue (i) Stimulates new commercial development in a neighborhood where additional private sector investment opportunity exists (j) Improves the climate of community and economic development for residents and businesses alike (k) Contributes to a healthy neighborhood which has the potential to decrease crime or the perception of crime, and increase public safety (l) Creates an improved commercial core and public space that is appealing to neighborhood residents encouraging “pride in place” and visitor attraction (m) Retains and empowers residents who can access jobs, goods and services in a walkable or transit oriented neighborhood (n) Creates an outreach and coordination mechanism at the neighborhood level for City‐ financed projects (o) Creates a public‐private partnership with the City that enhances community neighborhood input to improve the district Legal Basis of the Plan This Development Plan and Tax Increment Financing Plan is prepared pursuant to the requirements of Sections 18 and 21 of the Corridor Improvement Authority Act, Public Act 280 of 2005, as amended. It addresses the geographic area of the Corridor Improvement District as established by the City Commission. A descriptive map, resolution establishing the CID and forming the CIA, including the legal description describing the CID, are contained in the appendices. Development Plan Requirements This section of the Development Plan provides specific information required in Section 621 of the Corridor Improvement Authority Act section of PA 57. It consists of information requested in subsections 2(a) through 2(r). Section 621. 2(a) the designation of boundaries of the development area in relation to highways, streets, streams, or otherwise. The CIA is the same as the boundary established by City Commission Resolution Number ___ adopted on March 9th, 2021 and with the proposed area encompassing all contiguous real properties along the major commercial corridor on Lakeshore Drive and Robinson Street to Clifford Street. A copy of the boundary map is contained in the approved resolution in the Appendices. Section 621. 2(b) The location and extent of existing streets and other public facilities within the development area, designating the location, character, and extent of the categories of public and private land uses then existing and proposed for the development area, including residential, recreational, commercial, industrial, educational, and other uses and shall include a legal description of the development area. The CIA boundary is the same as the boundary established by City Commission Resolution Number _____ adopted on March 9th 2021. The percentage of real property by classification located within the proposed area as registered by the City Assessor is 61.4%% Commercial, 23.6% Residential, and 15.0% Institutional/Waterfront Marine. The legal description as approved on the City Commission Resolution is as follows: ALL PARCELS ABUTTING OR ACCESSED BY LAKESHORE DRIVE ORIGINATING AT CLIFFORD STREET AND CONTINUING EASTWARD TO ROBINSON STREET LOCATED IN THE CITY OF MUSKEGON REVISED PLAT OF 1903. See district parcel list and resolution in Appendices. Section 621. 2(c) A description of improvements to be made in the development area to be demolished, repaired, or altered, a description of any repairs and alterations, and an estimate of the time required for completion. A description of specific improvement projects that are contemplated within the development area is contained in the project schedule and budget at the end of this section. The cost and time estimates included in the project schedule and budget are for estimate purposes only and may be revised by the Authority Board at any time without amending this Plan. Section 621. 2(d) The location, extent, character, and estimated cost of the improvements including rehabilitation contemplated for the development area and an estimate of the time required for completion. A description, including location, cost estimate and schedule of implementation, for each improvement project that will be completed within the area is contained in the project schedule and budget at the end of this section. The cost and time estimates included in the project schedule and budget are estimates only and may be revised by the Authority Board at any time without amending this Plan. Section 621. 2(e) A statement of the construction or stages of construction planned, and the estimated time of completion of each stage. A description, including cost estimate and implementation schedule for each specific improvement project that will be completed within the area is contained in the project schedule and budget at the end of this section. The time estimates included in the project schedule are estimates only and may be revised by the Authority Board at any time without amending this Plan. Section 621. 2(f) A description of any parts of the development area to be left as open space and the use contemplated for the space. This plan contemplates the maintenance of existing pocket parks, and the enhancement of public parking lots and bus shelters, etc. Tables on subsequent pages include the project descriptions. Section 621. 2(g) A description of any portion of the development area which the authority desires to sell, donate, exchange, or lease to or from the municipality and proposed terms. A description, including real estate contemplated for acquisition and/or disposition (including cost estimates, terms and schedule for implementation) for each specific improvement contemplated within the development area is contained in the project schedule and budget at the end of this section. There is no known or identified property or real estate as of the adoption of this Plan that is necessary to complete the improvements set forth in this Plan. However, the CIA may wish to sell, donate, exchange, or lease property in the future. The Authority board reserves the right to sell, donate, exchange or lease property in the future to the extent determined necessary by the Authority board without further amendment to this Plan. Section 621. 2(h) A description of desired zoning changes and changes in streets, street levels, intersections, traffic flow modifications, or utilities. Zoning changes, street layout adjustments, street level modifications, intersection and utilities changes are not contemplated at this time, except as may be proposed in the project schedule and budget at the end of this section. Section 621. 2(i) An estimate of the cost of the development, a statement of the proposed method of financing the development, and the ability of the authority to arrange financing. A description, including cost estimate for individual projects and method of financing is contained in the project schedule and budget at the end of this section. The total cost of completing all activities, projects and improvements proposed by the Authority Development Plan and to be undertaken and financed by the Authority is estimated to be $1,250,000, not including administrative expenses, inflationary costs, and, contingencies. A breakdown of the estimated cost and estimated schedule for completion for each of those activities and projects is set forth in the project schedule and budget at the end of this section. The scope of the items and improvements and the projected schedule for completion for those items and improvements described in this Plan are estimates only and may be revised from time to time by the Authority board without amending this Plan; provided, however, that such items and improvements must be completed within the term of this Plan, unless the term is amended in accordance with Act 280. Further, estimated costs for any items or improvements may be increased or decreased by the Authority Board without amending this Plan based upon then‐ current pre‐construction or pre‐bid estimates of cost, as well as revised estimates of cost resulting from the receipt of bids. All operating and planning expenditures of the Authority and the City, as well as all advances extended by or indebtedness incurred by the City or other parties for improvements identified above that have been completed, are in progress, or yet to be completed, are expected to be repaid from tax increment revenues. The Authority expects to finance these activities from any one or more of the following sources: - Future tax increment revenues - Interest on investments - Donations received by the Authority - Proceeds from State and Federal Grants - Proceeds from any property building or facility that may be owned, leased, licensed, operated or sold by the Authority - Public and private foundation grants - Fees, sponsorships, or memberships - Other sources as may be approved by the City Commission The proceeds to be received from tax increment revenues in the CID plus the availability of funds from other authorized sources will be sufficient to finance all activities and improvements to be carried out under this Plan. Section 621. 2(j) Designation of the person or persons, natural or corporate, to whom all or a portion of the development is to be leased, sold, or conveyed in any manner and for whose benefit the project is being undertaken, if that information is available to the authority. Information concerning the names of persons for whom benefits may accrue is unknown at this time as final development plans and projects have yet to be prepared. Therefore, such information is unavailable. Section 621. 2(k) The procedure for bidding for the leasing, purchasing, or conveying in any manner of all or a portion of the development upon its completion, if there is no express or implied agreement between the authority and persons, natural or corporate, that all or a portion of the development will be leased, sold or conveyed to these persons. The CIA Board has no publicly announced commitments for the leasing or sale of property as it has no property under supervisory responsibility of the CIA at this time. The CIA in conjunction with the City Commission may discuss policies to explore acquisition of tax reverted property should properties within the Corridor Improvement District become available for acquisition by the City through tax reversion procedures. It is not a priority of the CIA to acquire private property unless it advances a public improvement project or is necessary for economic development purposes. Any property acquired or held by the CIA, to be sold, leased, or otherwise conveyed to private development interests shall be sold, leased, or otherwise conveyed in accordance with local municipal policy, terms, and conditions to be established by the CIA, and state law, if applicable. At the time of the adoption of this Plan, no private parties have been identified to whom land for redevelopment will be sold, leased, or otherwise conveyed; however, the CIA may convey such property to presently undetermined private parties for redevelopment for appropriate uses. Section 621. 2(l) Estimates of the number of persons residing in the development area and the number of families and individuals to be displaced. If occupied residences are designated for acquisition and clearance by the authority, a development plan shall include a survey of the families and individuals to be displaced, including their income and racial composition, a statistical description of the housing supply in the community, including the number of private and public units in existence or under construction, the condition of those in existence, the number of owner‐occupied and renter‐occupied units, the annual rate of turnover of the various types of housing and the range of rents and sale prices, an estimate of the total demand for housing in the community, and the estimated capacity of private and public housing available to displaced families and individuals. No relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. Section 621. 2(m) A plan for establishing priority for the relocation of persons displaced by the development in any new housing in the development area. No relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. Section 621. 2(n) Provision for the costs of relocating persons displaced by the development, and financial assistance and reimbursement of expenses, including litigation expenses and expenses incidental to the transfer of title, in accordance with the standards and provisions of the uniform relocation assistance and real property acquisition policies act of 1970, Public Law 91‐646, 84 Stat. 1894. No relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. Section 621. 2(o) A plan for compliance with 1972 PA 227, MCL 213.321 to 213.322. No relocation of families or individuals is anticipated within the scope of the proposed Development Plan or Tax Increment Financing Plan. Section 621. 2(p) The requirement that amendments to an approved development plan and tax increment plan must be submitted by the authority to the governing body for approval or rejection. In accordance with Act 57, the Authority reserves the right to amend this Plan to add new improvement projects, add additional parcels, extend the duration of the Plan, or for other lawful purposes. Any amendments to the Plan shall be approved by the Authority and the City Commission in accordance with the requirements of Act 57. Section 621. 2(q) A schedule to periodically evaluate the effectiveness of the development plan. An annual report shall be submitted to each entity for which taxes are captured addressing use of CIA funds during the past fiscal year, implementation status of the program of work set forth in the Development Plan and proposed CIA activities for the ensuing year. Any changes from this Development Plan will be addressed and approved by action of the City Commission as part of this annual review of CIA activities. Amendments to the Development Plan and Tax Increment Financing Plan would be completed in compliance with notification and public hearing procedures of Section 22 prior to action of the City Commission. Section 621. 2(r) Other material which the authority, local public agency, or governing board considers pertinent. This Development Plan contemplates the use of tax increment financing. City Commission Resolution ______ established the Lakeside Corridor Improvement District as a qualified development area as defined by Section 605 of the Corridor Improvement Authority Act section of PA 57 of 2018, as amended. Pursuant to Section 608 (3) and this Plan, the CIA may enter into agreements with the taxing jurisdictions levying ad valorem property taxes that would otherwise be subject to capture to exempt these taxes from capture, in whole or in part. A tax levy approved by the electors of the taxing unit levying the tax (i) for the sole purpose of repaying bonds, notes or other debt identified in the ballot proposal, (ii) for a specified purpose other than the payment of general operating expenses and for a specific time period identified in the ballot proposal, provided, the levying of the tax has not resulted in the reduction of the taxing unit’s general operating millage except to the extent such reduction is required by the State Constitution or statutory requirements, and (iii) for use to pay for specific capital improvements and for a specific time period identified in the ballot proposal, provided, the levying of the tax has not resulted in the reduction of the taxing unit’s general operating millage except to the extent such reduction is required by the State Constitution or statutory requirements shall be exempt from the capture of tax increment revenues, provided, however, in the case of an elector approved renewal of a tax levy that was subject to capture on the effective date of this Plan Amendment and which would be exempt from capture as provided above, only the portion of the tax levy above the previously approved levy is exempt from the capture of tax increment revenues. Development and Tax Increment Financing Plan Schedule and Budget The duration of this plan is a 30‐year period. On the following pages specific projects addressing CIA goals are described. Each project includes estimated costs and time of completion. The schedule begins in the year 2021 and ends in the year 2051. Projects have been listed based on estimated time of completion. Intent to Update and Extend Duration or Terminate Plan On or before the year 2051, the Authority will consider action to update and extend the duration of the Development Plan and Tax Increment Financing Plan or make recommendations to terminate the Plan and rescind City Resolution ______ creating the Authority. Rescission of the resolution would dissolve the Authority and eliminate the accompanying tax increment financing district; provided, however, that in accordance with Act 57, the Authority shall not be dissolved if there is outstanding indebtedness of the Authority. Reimbursement of Excess Tax Capture If CIA revenues exceed the anticipated needs of all projects listed in the Development Plan and budget, excess revenue shall be revert proportionately to the respective taxing bodies. Project Descriptions This Development and Tax Increment Financing Plan arranges projects in the four categories used by the National Main Street Model (Design, Economic Restructuring, Organization, and Promotions/Marketing) and provides for a general timeframe for completion. Design Design enhances the character of the corridor through physical change. Access to the local businesses in the corridor is critical to community stakeholders. Stakeholders have identified exploring how to incorporate new solutions to ensure that businesses can be reasonably accessed and patronized year- round important projects. Furthermore, the physical aesthetics along Lakeshore Drive as related to pedestrians and others were reported as being important to stakeholders. There is a current measured lack of maintenance to new public greenery, trees, and public spaces in many areas along the commercial corridor. Walkability/street crossing in the district is a challenge at times due to the auto‐ oriented infrastructure and high traffic volume, especially in warmer months. Stakeholders would like to see an inviting district that is a destination place for newcomers and a welcome resource to those already living in the neighborhood. Economic Restructuring Economic Restructuring affirms the main business district corridor as the commercial core of the surrounding community. Code enforcement, filling vacant buildings, façade improvement, and property infill development on vacant parcels are essential to a healthy district. Strong businesses and a healthy business mix are also critical. Stakeholders would like to see business assistance programs and possibly a revolving micro‐loan fund in place to assist with this effort. They believe that offering business incentives is one key element to attracting new business and development to the district. The other important factor being promotion of the amazing economic opportunity that can be found if new investments make Lakeshore Drive a priority for their new business or development projects. Organization Organization ensures the health of the overall collaborative program and establishes it as leader of the commercial corridor revitalization through fundraising and volunteer development. Organizational activities can be carried out by the Corridor Improvement Authority. Promotions/Marketing Promotions will establish the commercial corridor as the social center of the near residential neighborhoods and strengthen the corridors’ image. Some have suggested that the corridor offers a distinct daytime and evening or weekend consumer experience. Limited marketing is currently happening along the corridor that is primarily conducted via an annual pamphlet and social media. There are also some limited joint sales and events at designated seasons or holidays. Discussion has already taken place in coordinating all the many separate efforts of individual businesses and promoting the vibrant Lakeside corridor as a whole in a more impactful way. Lakeside businesses currently lack the funding and stability necessary for sustainable collaborative events and marketing. Proactively and regionally marketing a district is essential to draw a diverse customer base, help businesses thrive and create a unique gathering place for residents and visitors. It has been stressed by neighborhood stakeholders many times over that a comprehensive strategy should be developed and implemented to assist in creating a thriving Lakeside-specific identity to serve both residents and the many visitors that are in the district on a daily basis. Planned Development Projects The following tables summarize the various projects and activities proposed, including an estimated cost and completion date for each. As noted previously, the costs and completion dates are estimates only and are subject to change without further amendment to this Plan. These dates and estimates may vary because of private investment decisions, financing opportunities, market shifts or other factors. TABLE 1: Anticipated Projects in DESIGN Project Estimated Cost Estimated Completion Date Purchase and install seasonal elements (banners, $30,000 2022-2023 decorations) Seasonal Snow Removal on $900,000 2022-2051 Sidewalks and Public Parking Public Landscaping $100,000 2022-2051 Maintenance/Improvement TABLE 2: Anticipated Projects in ECONOMIC RESTRUCTURING Project Estimated Cost Estimated Completion Date Compile and maintain business $30,000 2022-2051 inventory Façade Grant Program $300,000 2031-2051 Purchase/Rehab/Demo of $250,000 2051 Vacant/Blighted Properties Develop Micro-Loan Revolving $100,000 2051 Fund TABLE 3: Anticipated Projects in ORGANIZATION Project Estimated Cost Estimated Completion Date Increase Communication of CIA $30,000 2022-2051 Activities Invest in Board Member $10,000 2022-2051 Training TABLE 4: Anticipated Projects in PROMOTIONS/MARKETING Project Estimated Cost Estimated Completion Date Pursue Branding Plan with $15,000 2023 Existing Logo Create and Maintain a Social $25,000 2022-2051 Media and Online Presence Plan Special Events and Festivals $100,000 2022-2051 Unique to the District Pursue Cooperative Advertising $15,000 2022-2023 Sources of Financing The CIA expects to finance these activities from one or more of the following sources: - Future tax increment revenues - State or Federal grants - Interest on investments - Public and private foundation grants - Fees, sponsorships, or memberships - Donations received by the CIA - Proceeds from any property, building or facility owned, leased or sold by the CIA - Moneys obtained through development agreements with property owners benefiting from organizing activities listed in the plan and other public improvements - Moneys obtained from other sources approved by the Muskegon City Commission The revenue to be received from tax increment financing in this Development Area plus the availability of funds from other authorized sources will be sufficient to finance the activities and improvements to be carried out under this Plan. Tax Increment Financing Plan This Tax Increment Financing Plan is established to make possible the financing of all or a portion of the costs associated with the activities and projects contained in the previous Development Plan for the Lakeside Corridor Improvement District PA 57 requires the CIA to address three legislative requirements in the Tax Increment Financing Plan. These provide information about funds anticipated to be received by the CIA and its impact upon taxing jurisdictions. These requirements are found in Section 618(3) of the Act and states that “if the authority determines that it is necessary for the achievement of the purposes of this act, the authority shall prepare and submit a tax increment financing plan to the governing body of the municipality. The plan shall include a development plan as provided...” Specifically, the Tax Increment Financing Plan must include, pursuant to Section 618 of the Act: 1. A detailed explanation of the tax increment procedure, 2. The maximum amount of bonded indebtedness to be incurred, and 3. The duration of the program. 1. Detailed explanation of the Tax Increment Financing Procedure The Recodified Tax Increment Financing Act of 2018, as amended, authorizes tax increment financing (TIF). TIF makes it possible for a district to essentially capture tax revenues that are derived from the increase in value of property, which has benefitted from development projects within said district. The revenue is used to finance further development within the district. The Lakeside CIA has determined that, in order to finance the activities and projects set forth in the Development Plan; a tax increment financing plan must be adopted. The theory of utilizing TIF is that tax revenue will increase within a district where redevelopment is taking place. That increase in development will generate an increase in the tax revenues within that district. Therefore, it is appropriate to use this increase in tax revenue to reinvest into the district to encourage continued development efforts. The tax increment financing procedure as outlined in PA 57 requires the adoption by the City, by resolution, of a Development Plan and a Tax Increment Financing Plan. Following the adoption of that resolution, the city and county treasurers are required by law to transmit to the CIA that portion of the tax levy of all taxing bodies paid each year on the “Captured Assessed Value of all real and personal property located in the Development Area.” The tax amounts to be transmitted are hereinafter referred to as “Tax Increment Revenue”. The “Captured Assessed Value” is defined by the Act as “the amount in any 1 year by which the current assessed value of the project area, including the assessed value of property for which specific local taxes are paid in lieu of property taxes … exceeds the initial assessed value…” The “initial assessed value” is defined by the Act as the “assessed value, as equalized, of all the taxable property within the boundaries of the Development Area at the time the resolution establishing the tax increment financing plan is approved, as shown by the most recent assessment roll of the municipality for which equalization has been completed at the time the resolution is adopted…” It is the goal of the CIA to use the captured assessed value in the development district for the number of years necessary to complete the projects outlined in the Development Plan. The CIA shall submit a report on the tax increment financing account showing the revenue received and the amount and purpose of expenditures from the account. Reports will also be required showing the initial assessed value of the development district and the amount of captured assessed value retained by the CIA. The report shall be submitted to the Muskegon City Commission and contain such additional information as the City Commission deems necessary. An opportunity will be made available to the County Board of Commissioners and other taxing jurisdictions to meet with the City Commission to discuss the fiscal and economic implications of the proposed financing and development plans. The governing body may abolish the tax increment financing plan when it finds that the purpose for which it was established is accomplished. 2. The maximum amount of bonded indebtedness to be incurred According to the Development Plan, the CIA does not anticipate bonding. Below is the current financial position of the Lakeside CIA. Description of Current Financial Position Current Assets: The Lakeside CIA fund balance at the time of preparation of this analysis is $0.00. The Lakeside BID will operate concurrently at the onset of the CIA, and share a common board. This entity may have funding available prior to significant TIF revenue generation to commit to projects highlighted in the Development Plan. Additionally, the non-profit Lakeside District Association has some funding available to assist in projects, pursuant to their board approval. Anticipated Revenue: The proposed tax increment financing district contains 104 individual real properties, according to public records of the Muskegon County Equalization Department. The 2021 taxable value for all properties is $6,594,883. This is the initial assessed value to which all future assessments will be compared to determine the tax capture for the district. A detailed table listing projected revenue for the 30‐year period is included in the appendices. Additional sources of funding may be leveraged from time to time. Expenses: The CIA will be responsible for accommodating all expenses for each project as prioritized from the Development Plan using TIF funding. 3. Duration of the CIA and Tax Increment Financing District This Tax Increment Financing Plan establishes a budget for a 30‐year period. This is reflected in the previous Development Plan’s projects estimated completion dates, Tables 1 through 4. Lakeside Business Improvement District Agenda Items IV-F for September 24, 2025 Discussion: City Sign Ordinance Requesting Party: City Economic Development Outline of Request: The BID Chair has requested a discussion on the City’s sign ordinance, specifically regarding temporary yard signs placed in the public right-of-way (terraces) within the business district. The intent is to explore whether businesses would be permitted to display such signs during business hours. Staff Comments: N/A Staff Recommendation: N/A Suggested Motion: Discussion Only
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