THE ORIGINAL TIF DISTRICT & DEVELOPMENT PLAN

AMENDMENT

EVOLUTION

Thriving Downtown Ferndale: 1920’s-60’s

• 1970s – late 1990s Rapid Decline and Disinvestment:– 30% vacancy rate– “Fabulous Ferndale” – the butt of jokes– Properties abandoned and neglected – Sense of Place Lost– Quality of Businesses Drove Residents to

Look Elsewhere– Empty Streets

EVOLUTION

EVOLUTION

• In 1980, the National Trust for Historic Preservation developed a downtown revitalization program: the National Trust Main Street Center (NTMSC)

• Now includes over 2,000 downtown revitalization programs across the US.

• Locally, Main Street Oakland County administers the program and its services to 11 communities in the County.

• Ferndale was accepted into the program in 2001.

THE PAST 10 YEARS•$57.5 million reinvestment•1244 Net New Jobs•Reduced Vacancy Rate From 30% In

2000 To Less Than 5% Today•Over 75% of Downtown Buildings

Renovated (172) with 122,002 square feet of new buildings/additions

•17,647 Volunteer Hours Valued at $370,500

2000-2010 STATISTICS

268% Increase in Property ValuesSince 1981

EVOLUTION

• In 2010, the National Main Street Center awarded the City of Ferndale its “Great American Main Street” award.

• This recognition is given to only five communities across the US each year,

• Award is notable as it comes at a time when Michigan’s economy is struggling

• The Ferndale Downtown Development Authority is the first Main Street Oakland County program participant to bring home the GAMSA and only the third in Michigan to be so honored since the award began in 1995.

$1, 941,755 in Public & Private

Reinvestment

34 New Businesses (20

Net)

154 New Jobs (86 Net)

32 Building Rehabilitations

or Modifications

Public Improvements

2011 STATISTICS

Business Start Up & Assistance• Guide New Business Start-ups in Downtown• BUILD Grant & MSOC Design Assistance• Track and List Available Properties Online• Provide Location Assistance• Provide Consultation Services & Insights• Offer Networking Events For Every Stage Business• FREE Marketing, Promotions & Consultations• Resource on State & Federal Financial Incentives and Business

Planning

WHAT THE DDA DOES

• Increased Occupancy Rate by over 25%

IMPACT OF THE DDA

Public/Private Physical Improvements & Maintenance• Streetscape Plans, Projects & Improvements• Landscape & Flower Installations & Maintenance• Planting Of More Than 40 New Trees On Woodward Ave• Design Guidelines & Façade Grants For Façade Improvements• Long Term Planning For Capital Improvement Projects• Wayfinding, Directional And Historical Signage• Develop Programs To Encourage Buy-in By Businesses To Improve Their

Visuals, i.e. Pimp Your Pot• Encourage Environmental Sustainability With

Financial Incentives

WHAT THE DDA DOES

• Physical Building Improvements – Since 2000 over 75% of

downtown buildings rehabilitated

IMPACT OF THE DDA

• Environment Improvements – Landscaping– Maintenance– Pocket Parks– Bike Racks– Benches– Banners– Holiday Decor

IMPACT OF THE DDA

• Complete Streets/Capital Improvements to Streetscapes, Infrastructure (See Capital Plan List)

IMPACT OF THE DDA

Promotions & MarketingCommunicate Assets For Downtown Ferndale & Its Businesses• Regularly Distribute Press Releases & Media Alerts• Maintain & Update Social Media• Maintain & Update www.downtownferndale.com

– More Than 13,000 Unique Visitors In A Given Month • Bi-weekly Eblast Newsletters To More Than 2000+ Consumers & Businesses• Develop, Promote and Execute Special Events• Promote Engagement and Collaboration:

– Third Party Event Organizers– Business to Business

WHAT THE DDA DOES

• A New Downtown Identity to be Proud Of

IMPACT OF THE DDA

• 36 DDA-run Special Events & over 50 that we support and promote

IMPACT OF THE DDA

Grass-Roots Community Building

• Recruit volunteers for jobs big and small

• Train & honor volunteers to make them partners and vested in their community

• Engage non-profits and build partnerships for better business

• Fundraise to leverage tax dollars

WHAT THE DDA DOES

• Over 40 volunteers = Community Driven Programming to Meet Community Needs

IMPACT OF THE DDA

Value of DDA services to the community is over $747,000 per year.

WHERE REVITALIZATION

STARTED

• The DDA was created by the City Council on July 14, 1980

• DDA’s primary purpose is to correct and prevent deterioration and promote economic growth within Ferndale’s downtown business district.

• City Established DDA TIF District In 1981• Reinvestment Tool Dedicated to the Economic Growth

of Downtown Ferndale• The 1981 TIF Plan has been updated and amended

three times in the past 30 years.

Green Shaded AreaIs TIF District

TIF DISTRICT MAP

AMENDMENT BACKGROUND

• The TIF Plan must be updated to continue revitalization efforts.

• Currently, the Plan and its projects expires in 2013 or as amended by Council.

• This TIF Plan updates the DDA’s goals, objectives and recommended actions that will lead to planning and prioritizing future projects.

• Through this TIF Plan update, the DDA will ensure that the development, redevelopment and other improvements within the downtown district occur in an orderly manner, so as to continue positive improvements downtown.

• NOT A NEW TAX – WILL NOT INCREASE TAXES A PROPERTY PAYS

• TIF is the ability to capture the incremental increase in property taxes that results from improvements in the district.

• The captured revenues from multiple taxing jurisdictions are used to finance public improvement projects within the district, as a means for jumpstarting economic growth.

WHAT IS TIF?

TAX INCREMENT FINANCING (TIF)

• Collects Percentage of City & Non-City Tax Revenue That Increases As Property Values Rise Each Year within Defined Commercial District

• The City General Fund Continues To Receive Base Amount of Tax Revenue From District ($140,776 annually)

WHAT IS TIF?

• BONUS!! Oakland County & Other Taxing Authorities Invest Their Portion of Increased Tax Revenue In TIF District. – This Portion Would Otherwise

Leave The City.

• Equal to over @$100,000 annually or more than $1 million in 10 years.

78%

22%

TIF REVENUE

CITY COUNTY

WHAT IS TIF?

DDA REVENUE FUNDS

61%

15%

5%

3%

16%

FYE 2012 DDA REVENUE

Local TIFCounty TIF1.3794 LEVY from TIF Area1.3794 LEVY from NON-TIF AreaGRANTS, SPONSORSHIPS & FEES

165% Return on Investment

RETURN ON INVESTMENT

• What’s Working & What Needs Work• Best Practices for Downtowns• Development & Redevelopment Opportunities• Streetscape Projects• Traffic & Parking Improvements that Will Stimulate

Economic Growth• Program Goals• Property Value Analysis

WHAT’S IN THEDEVELOPMENT & TIF PLANS?

• Traffic & Streetscape Analysis• Stakeholder Meetings• Community Forums• Stakeholder & Consumer

Surveys• Monthly Meetings with

Advisory Committee• County Meetings

COMMUNITY OUTREACH &

RESEARCH

• Downtown buildings frame the public realm and provide the physical context for human activity.

• Circulation and parking in the downtown are important for visitors, residents and business owners. Pedestrian, bicycle, and automobile flow should be intuitive, convenient and employ common sense design.

• Streetscape elements include plantings, pedestrian amenities, and gathering spaces.

PRINCIPLES FORA HEALTHY

DOWNTOWN

• Signs convey a great deal of information to downtown visitors, and go beyond simply identifying businesses or the locations of downtown features

• Land uses make downtown amenable for living, working and playing. Successful downtowns have a good variety of pedestrian-oriented uses that generate pedestrian traffic throughout the day and week.

PRINCIPLES FORA HEALTHY

DOWNTOWN

WHAT’S WORKING DOWNTOWN TODAY?

--JUST A SAMPLE

• The intersection of Nine Mile Road and Woodward Avenue is full of entertainment and dining opportunities.

• Most of the businesses in this area appear to be viable.• The historic Magic Bag Theater has been serving Ferndale residents since 1921

and has adapted to the changing times by offering live music and film events.

• The pedestrian crossing at Woodward and Nine Mile features landscaping and historic markers that provide refuge for those stopping at the midpoint across Woodward Avenue

• The alley from Troy to W. Nine Mile provides an appealing link between the rear parking area and the main business area

• The alley from E. Nine Mile, just east of Woodward Avenue provides an enticing respite

WHAT’S WORKING DOWNTOWN TODAY?

--JUST A SAMPLE

• The automobile collision shop on Vester may not be the best use for this part of downtown and may be limiting redevelopment potential on the north side of the street.

• The vacant alleyway between Nine Mile and Withington is very large and offers no good use in its current form

WHAT NEEDS WORK DOWNTOWN TODAY?

--JUST A SAMPLE

• Limited availability of secure and visible bicycle parking

• Blockages in/on the sidewalk impede pedestrian circulation

• Lack of bus stop amenities, such as furniture, wayfinding signage, or shelter may deter riders

WHAT NEEDS WORK DOWNTOWN TODAY?

--JUST A SAMPLE

DEVELOPMENT PLAN PROJECTS

• Although Downtown Ferndale has come a long way over the past ten years, there are abundant opportunities to further enhance and improve the City.

• By continuing to strengthen the downtown, these improvements will benefit businesses and residents throughout the City.

• The projects are broken into three components: Development, Streetscape, and Traffic & Parking.

DEVELOPMENT-RELATED

PROJECTS

• Create a redevelopment facilitation program to encourage the redevelopment of specific properties in the TIF district, leveraging private investment. – Budget: many of these tasks are reflected in the DDA

operating budget, approximately $560,000.– Priority: High

• Potential Redevelopment Sites include those detailed in the Existing Development chapter, to be prioritized by the DDA as market conditions, community needs, and funding allows.

• Program may include a variety of activities:– DDA purchase and redevelopment of property– Facilitating and/or participating in a public/private

partnership,– Facilitating “shovel-ready permitting,” and/or– Marketing available properties to the private sector

Development-Related Projects

• Program would include DDA involvement and/or assistance, some of which the DDA currently provides, such as – Design assistance– BUILD program– Market data– Incentives for specific development needs (i.e., floor

area bonus, parking reduction, etc.)– Site acquisition– Preparation of site plans & permitting– Tenant relocation assistance

Development-Related Projects

STREETSCAPE PROJECTS

• Create a comprehensive streetscape program – Special attention will be given to streetscape amenities

that improve the safety, ease, and comfort of mass transit– Program will include lights, benches, receptacles, pocket

parks, LED lighting, and alley enhancements– Budget: $2,000,000– Priority: Medium

STREETSCAPE PROJECTS

• Create a public art program throughout downtown – Budget: Low cost/no cost– Priority: High

• Implement streetscape projects along the Woodward Avenue corridor in conjunction with the Woodward Avenue Action Association’s 2010 Non-Motorized Transportation Plan – Budget: State, Federal Grants, Local match– Priority: High

STREETSCAPE PROJECTS

• Redesign Nine Mile and Livernois intersection to improve the pedestrian experience, provide clarity for motorists, enhance safety– May include developable retail site as market conditions and

community needs warrant, and/or a pocket park– Budget: $50,000—$250,000– Priority: High

• Implement all components of wayfinding plan (2010) to help identify businesses, history, and culture.– Budget: $50,000—$100,000– Priority: Medium

TRAFFIC & PARKING

PROJECTS

• Support the study needed to implement a Complete Streets Plan, including a “road diet”, for Woodward Avenue– Refer to the “Woodward Avenue Non-motorized Transportation Master

Plan, Eight Mile Road to Maple Road,” January 2010– Budget: State, Federal Grants, and Local match– Priority: High

• Work with MDOT to improve pedestrian crossings of Woodward Avenue, specifically at Cambourne, Withington/Vester, and Pearson– Budget: Assume 20% local share—$750,000 per crossing– Priority: High

TRAFFIC & PARKING

PROJECTS

• Support development of the City’s non-motorized transportation network plan– Refer to Complete Streets Ordinance approved in 2010 – Budget: Low cost/no cost for bike routes– Priority: Medium

• Develop a “road diet” plan for West Nine Mile Road, between Pinecrest and Livernois. – Not in the current TIF area, but impacts the downtown area

considerably in both appearance and function– This project may also include the reopening of Livernois north of Nine

Mile to re-establish the connection between the neighborhood and Downtown

– Budget: $1,250,000– Priority: Medium

TRAFFIC & PARKING

PROJECTS

• Build parking structures in downtown area as appropriate– Budget: $8,500,000 for Withington; $6,750,000 for

City Hall/Library– Financing of these structures through a

public/private partnership would reduce the DDA’s share of construction and financing cost

– Priority: Medium

TRAFFIC & PARKING

PROJECTS

• Provide a more complete and identifiable system of wayfinding signage for the City’s major public parking facilities– Budget: DDA Operating budget; refer to Capital Improvements

Plan and Wayfinding Budget Compilation– Priority: Medium

• Develop an incentive program to consolidate private parking lots that will facilitate shared parking and allow for redevelopment of properties– Budget: Low cost - DDA Operating budget– Priority: Medium

TRAFFIC & PARKING

PROJECTS

• Conduct traffic studies to identify specific plans for improving traffic flow and safety at the following locations:– Withington (Funded in conjunction with parking garage

project)– W. Troy and W. Saratoga (west of Allen Street – to evaluate

parking intrusions as well as truck loading/unloading)– Allen Street (just south of W. Nine Mile – to study optimum

traffic control)– Paxton (to study optimum traffic control)– Budget: Low cost (DDA Operating budget) – Priority: Medium

TIF PROCEDURES

• This plan is a continuation and renewal of the 1981 DDA TIF Plan.

• Its duration is 20 years past the issuance of the last bond• The initial assessed value in the district remains $5,702,600. • Growth of the District is projected over the next 20 years • In County’s 2012-2014 Triennial Budget, property values

projected to decline by 3% in 2012, by 1% in 2013, and bottom out with no change in 2014.

• This plan projects property values in the TIF district to make similar changes, and then increase by a modest 2% for the remainder of the 20-year extension time.

Library (1.9601) Debt (6.000)

Refuse(2.1815)

City Operating(14.5448)

Headlee Override Increase

(3.7800)3

Total City

Revenue2County

(6.6059)*HCMA

(0.2146)

Total Non-City

Revenue (6.8205)

2012 $21,032,575 $30,048 $91,980 $33,442 $222,971 $57,947 $436,389 $101,268 $3,290 $104,558 $540,9472013 $20,822,249 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5262014 $20,822,248 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5252015 $21,238,692 $30,452 $93,217 $33,892 $225,969 $58,726 $442,257 $102,630 $3,334 $105,964 $548,2212016 $21,663,464 $31,285 $95,765 $34,819 $232,148 $60,332 $454,348 $105,436 $3,425 $108,861 $563,2092017 $22,096,733 $32,134 $98,365 $35,764 $238,449 $404,712 $108,298 $3,518 $111,816 $516,5282018 $22,538,666 $33,000 $101,016 $36,728 $244,877 $415,622 $111,217 $3,613 $114,830 $530,4522019 $22,989,439 $33,884 $103,721 $37,711 $251,434 $426,750 $114,195 $3,710 $117,905 $544,6552020 $23,449,226 $34,785 $106,480 $38,714 $258,121 $438,100 $117,232 $3,808 $121,041 $559,1412021 $23,918,210 $35,704 $109,294 $39,737 $264,942 $449,678 $120,330 $3,909 $124,240 $573,9172022 $24,396,573 $36,642 $112,164 $40,781 $271,900 $461,487 $123,491 $4,012 $127,502 $588,9892023 $24,884,504 $37,598 $115,091 $41,845 $278,997 $473,532 $126,714 $4,116 $130,830 $604,3622024 $25,382,193 $38,574 $118,078 $42,931 $286,236 $485,818 $130,001 $4,223 $134,225 $620,0432025 $25,889,836 $39,569 $121,123 $44,038 $293,619 $498,350 $133,355 $4,332 $137,687 $636,0372026 $26,407,631 $40,584 $124,230 $45,168 $301,151 $511,133 $136,775 $4,443 $141,219 $652,3512027 $26,935,783 $41,619 $127,399 $46,320 $308,832 $524,171 $140,264 $4,557 $144,821 $668,9922028 $27,474,498 $42,675 $130,631 $47,495 $316,668 $537,470 $143,823 $4,672 $148,495 $685,9652029 $28,023,986 $43,752 $133,928 $48,694 $324,660 $551,035 $147,453 $4,790 $152,243 $703,2782030 $28,584,465 $44,851 $137,291 $49,917 $332,812 $564,871 $151,155 $4,910 $156,066 $720,9372031 $29,156,153 $45,971 $140,721 $51,164 $341,127 $578,984 $154,932 $5,033 $159,965 $738,949

$487,707,123 $732,401 $2,241,931 $815,129 $5,434,739 $291,310 $9,515,510 $2,468,328 $80,186 $2,548,515 $12,064,025

TotalRevenue

Capture4Year

TaxableValue

Capture1

City Non-City

20-year Projection of TIF District Capture Chart will be broken out on next three slides

1 2 3

Library (1.9601) Debt (6.000)

2012 $21,032,575 $30,048 $91,980 $33,442 $222,971 $57,947 $436,389 $101,268 $3,290 $104,558 $540,9472013 $20,822,249 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5262014 $20,822,248 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5252015 $21,238,692 $30,452 $93,217 $33,892 $225,969 $58,726 $442,257 $102,630 $3,334 $105,964 $548,2212016 $21,663,464 $31,285 $95,765 $34,819 $232,148 $60,332 $454,348 $105,436 $3,425 $108,861 $563,2092017 $22,096,733 $32,134 $98,365 $35,764 $238,449 $404,712 $108,298 $3,518 $111,816 $516,5282018 $22,538,666 $33,000 $101,016 $36,728 $244,877 $415,622 $111,217 $3,613 $114,830 $530,4522019 $22,989,439 $33,884 $103,721 $37,711 $251,434 $426,750 $114,195 $3,710 $117,905 $544,6552020 $23,449,226 $34,785 $106,480 $38,714 $258,121 $438,100 $117,232 $3,808 $121,041 $559,1412021 $23,918,210 $35,704 $109,294 $39,737 $264,942 $449,678 $120,330 $3,909 $124,240 $573,9172022 $24,396,573 $36,642 $112,164 $40,781 $271,900 $461,487 $123,491 $4,012 $127,502 $588,9892023 $24,884,504 $37,598 $115,091 $41,845 $278,997 $473,532 $126,714 $4,116 $130,830 $604,3622024 $25,382,193 $38,574 $118,078 $42,931 $286,236 $485,818 $130,001 $4,223 $134,225 $620,0432025 $25,889,836 $39,569 $121,123 $44,038 $293,619 $498,350 $133,355 $4,332 $137,687 $636,0372026 $26,407,631 $40,584 $124,230 $45,168 $301,151 $511,133 $136,775 $4,443 $141,219 $652,3512027 $26,935,783 $41,619 $127,399 $46,320 $308,832 $524,171 $140,264 $4,557 $144,821 $668,9922028 $27,474,498 $42,675 $130,631 $47,495 $316,668 $537,470 $143,823 $4,672 $148,495 $685,9652029 $28,023,986 $43,752 $133,928 $48,694 $324,660 $551,035 $147,453 $4,790 $152,243 $703,2782030 $28,584,465 $44,851 $137,291 $49,917 $332,812 $564,871 $151,155 $4,910 $156,066 $720,9372031 $29,156,153 $45,971 $140,721 $51,164 $341,127 $578,984 $154,932 $5,033 $159,965 $738,949

$487,707,123 $732,401 $2,241,931 $815,129 $5,434,739 $291,310 $9,515,510 $2,468,328 $80,186 $2,548,515 $12,064,025

Year

TaxableValue

Capture1

City

1

• Represents the Taxable Value of all taxable property in the DDA district

• All 2012 figures based on Ferndale DDA Projected Revenue for FY2012,

• Assumes 1% decline in 2013• No change in 2014• 2% increase for future years (value change

based on Oakland County 2012-2014 budget

• Conservative projections, it is likely that DDA projects will increase values at a higher rate

Library (1.9601) Debt (6.000)

Refuse(2.1815)

City Operating(14.5448)

Headlee Override Increase

(3.7800)3

Total City

Revenue2

2012 $21,032,575 $30,048 $91,980 $33,442 $222,971 $57,947 $436,389 $101,268 $3,290 $104,558 $540,9472013 $20,822,249 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5262014 $20,822,248 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5252015 $21,238,692 $30,452 $93,217 $33,892 $225,969 $58,726 $442,257 $102,630 $3,334 $105,964 $548,2212016 $21,663,464 $31,285 $95,765 $34,819 $232,148 $60,332 $454,348 $105,436 $3,425 $108,861 $563,2092017 $22,096,733 $32,134 $98,365 $35,764 $238,449 $404,712 $108,298 $3,518 $111,816 $516,5282018 $22,538,666 $33,000 $101,016 $36,728 $244,877 $415,622 $111,217 $3,613 $114,830 $530,4522019 $22,989,439 $33,884 $103,721 $37,711 $251,434 $426,750 $114,195 $3,710 $117,905 $544,6552020 $23,449,226 $34,785 $106,480 $38,714 $258,121 $438,100 $117,232 $3,808 $121,041 $559,1412021 $23,918,210 $35,704 $109,294 $39,737 $264,942 $449,678 $120,330 $3,909 $124,240 $573,9172022 $24,396,573 $36,642 $112,164 $40,781 $271,900 $461,487 $123,491 $4,012 $127,502 $588,9892023 $24,884,504 $37,598 $115,091 $41,845 $278,997 $473,532 $126,714 $4,116 $130,830 $604,3622024 $25,382,193 $38,574 $118,078 $42,931 $286,236 $485,818 $130,001 $4,223 $134,225 $620,0432025 $25,889,836 $39,569 $121,123 $44,038 $293,619 $498,350 $133,355 $4,332 $137,687 $636,0372026 $26,407,631 $40,584 $124,230 $45,168 $301,151 $511,133 $136,775 $4,443 $141,219 $652,3512027 $26,935,783 $41,619 $127,399 $46,320 $308,832 $524,171 $140,264 $4,557 $144,821 $668,9922028 $27,474,498 $42,675 $130,631 $47,495 $316,668 $537,470 $143,823 $4,672 $148,495 $685,9652029 $28,023,986 $43,752 $133,928 $48,694 $324,660 $551,035 $147,453 $4,790 $152,243 $703,2782030 $28,584,465 $44,851 $137,291 $49,917 $332,812 $564,871 $151,155 $4,910 $156,066 $720,9372031 $29,156,153 $45,971 $140,721 $51,164 $341,127 $578,984 $154,932 $5,033 $159,965 $738,949

$487,707,123 $732,401 $2,241,931 $815,129 $5,434,739 $291,310 $9,515,510 $2,468,328 $80,186 $2,548,515 $12,064,025

TaxableValue

Capture1

City

2

• Represents the City tax revenue from the incremental increase in taxable value since 1981

• City continues to collect and retain revenue on 1981 taxable value

• Includes Headlee Override from 2012-2016

Debt (6.000)

Total City

Revenue2County

(6.6059)*HCMA

(0.2146)

Total Non-City

Revenue (6.8205)

2012 $21,032,575 $30,048 $91,980 $33,442 $222,971 $57,947 $436,389 $101,268 $3,290 $104,558 $540,9472013 $20,822,249 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5262014 $20,822,248 $29,636 $90,718 $32,984 $219,912 $57,152 $430,402 $99,879 $3,245 $103,124 $533,5252015 $21,238,692 $30,452 $93,217 $33,892 $225,969 $58,726 $442,257 $102,630 $3,334 $105,964 $548,2212016 $21,663,464 $31,285 $95,765 $34,819 $232,148 $60,332 $454,348 $105,436 $3,425 $108,861 $563,2092017 $22,096,733 $32,134 $98,365 $35,764 $238,449 $404,712 $108,298 $3,518 $111,816 $516,5282018 $22,538,666 $33,000 $101,016 $36,728 $244,877 $415,622 $111,217 $3,613 $114,830 $530,4522019 $22,989,439 $33,884 $103,721 $37,711 $251,434 $426,750 $114,195 $3,710 $117,905 $544,6552020 $23,449,226 $34,785 $106,480 $38,714 $258,121 $438,100 $117,232 $3,808 $121,041 $559,1412021 $23,918,210 $35,704 $109,294 $39,737 $264,942 $449,678 $120,330 $3,909 $124,240 $573,9172022 $24,396,573 $36,642 $112,164 $40,781 $271,900 $461,487 $123,491 $4,012 $127,502 $588,9892023 $24,884,504 $37,598 $115,091 $41,845 $278,997 $473,532 $126,714 $4,116 $130,830 $604,3622024 $25,382,193 $38,574 $118,078 $42,931 $286,236 $485,818 $130,001 $4,223 $134,225 $620,0432025 $25,889,836 $39,569 $121,123 $44,038 $293,619 $498,350 $133,355 $4,332 $137,687 $636,0372026 $26,407,631 $40,584 $124,230 $45,168 $301,151 $511,133 $136,775 $4,443 $141,219 $652,3512027 $26,935,783 $41,619 $127,399 $46,320 $308,832 $524,171 $140,264 $4,557 $144,821 $668,9922028 $27,474,498 $42,675 $130,631 $47,495 $316,668 $537,470 $143,823 $4,672 $148,495 $685,9652029 $28,023,986 $43,752 $133,928 $48,694 $324,660 $551,035 $147,453 $4,790 $152,243 $703,2782030 $28,584,465 $44,851 $137,291 $49,917 $332,812 $564,871 $151,155 $4,910 $156,066 $720,9372031 $29,156,153 $45,971 $140,721 $51,164 $341,127 $578,984 $154,932 $5,033 $159,965 $738,949

$487,707,123 $732,401 $2,241,931 $815,129 $5,434,739 $291,310 $9,515,510 $2,468,328 $80,186 $2,548,515 $12,064,025

TotalRevenue

Capture4

City Non-City

3

• One of the biggest benefits of a TIF district is the ability to capture non-city tax revenue

• Includes County, Huron-Clinton Metropark

• Shows confidence by other taxing jurisdictions in the ability of DDA activities to increase property value in future and for surrounding area

NON-CITY

POTENTIAL REDEVELOPMENT

IMPACT

• Timing and valuation of private investment is difficult to gauge

• As Development Projects are implemented, and the development area starts to show signs of improvement, the private sector will gain confidence and investments can be better justified.

• Certain projects may leverage redevelopment of nearby parcels

POTENTIAL REDEVELOPMENT

IMPACT

POTENTIAL REDEVELOPMENT

IMPACT

• Redevelopment of the Withington Parking Lot, although not in the TIF district, will have a major impact on the surrounding properties in the existing TIF district

• New mixed-use buildings may take the place of nearby private parking lots.

POTENTIAL REDEVELOPMENT

IMPACT

Future Withington Parking DeckPotential Redevelopment Area

DDA Existing TIF Boundary

Floor (20,000 Sq. ft. per

floor)

Use Est. Cost/

Sq. Ft.

Est. Property

Value

Est. Taxable Value

Est. Tax Revenue

Capture (Year 1)

(31.5069 Total mils)

1 Retail $200 $4,000,000 2,000,000 $63,014

2 Office/Flex $125 $2,500,000 1,250,000 $39,384

3 Residential $125 $2,500,000 1,250,000 $39,384

4 Residential $125 $2,500,000 1,250,000 $39,384

Total $12,000,000

$6,000,000

$181,166

POTENTIAL REDEVELOPMENT

IMPACT

• TIF Protects Taxpayers• Enables a City to meet City

Master Plan goals and complete economic development initiatives with additional contributions from the County and DDA that would otherwise not be available.

VALUE ADDED

Strengthening a Core Area Benefits the

Entire Community & Improves All Property

Values

When People Think of Ferndale They Think of…..

• ADDITIONAL INFORMATION SLIDES FOLLOW IF NEEDED

2010 2012

City Pre-TIF Revenue 141772 141772

City TIF Portion 362288 378442

Other Taxing Jurisdictions 100095 104558

Headlee Override 0 57947

$50,000.00

$250,000.00

$450,000.00

$650,000.00

DDA TIF DISTRICT REVENUE BREAKDOWN

Reve

nue

by th

e

WHAT IS TIF?

CITY INVESTMENTADDITIONAL

COUNTY & DDA REVENUE

ROI

0100,000200,000300,000400,000500,000600,000700,000800,000

436,389

283,344

719,733

165% RETURN ON INVESTMENT ANNUALLY

RETURN ON INVESTMENT