Summary of Specifications:
In accordance with Section 17 of Act 197 of 1975 the preparation of the TIF plans shall include: • Public Input and Presentations o A minimum of 2 public meetings included, but not limited to focus groups, town halls and charettes. o Final presentations to the Operations and Finance Committee, YDDA Board of Directors, and City Council. • A plan to coordinate the new TIF and Development Plan with already completed studies and plans, including but not limited to; the 2000 Depot Town TIF and Development Plan, 2008 Downtown Blueprint, 2020 Ypsilanti Task Force Report, 1999 Depot Town Circulation Study, and the 2013 Shape Ypsi Master Plan. • A plan to accommodate for existing guidelines including Complete Streets, Transit Oriented Design and Sustainability through multiple forms of transportation, i.e. pedestrian friendly, bike racks, bus stops, parking; long term preparedness; and sustainability measures in redevelopment. • A description of existing improvements and economic development initiatives in the development area. Refine current economic development initiatives. • Projected public and private redevelopment projects and economic development initiatives. • The location, extent, character, and estimated cost of improvements and economic development initiatives. • A timeline of construction stages and economic initiatives. • An estimated cost of development and budget entailing a maximum amount of bonded indebtedness to be incurred along with a statement of the proposed method of financing. • TIF Renewal Areas shall conform to the Washtenaw County Performance Standards- Policy for County Participation in Downtown Development Authorities with Tax Increment Financing. • TIF Revenue Projections for each plan for the Return on Investment.
