(Crystal A. Proxmire, 11/19/2011)
The Ferndale Downtown Development Authority (DDA) is hosting a community input meeting to discuss the public vision for North Woodward Avenue. The DDA is currently seeking approval from Oakland County to expand the boarders of the TIF district (Tax Increment Financing) in order to collect more tax revenue for DDA programs and projects.
The community input meeting takes place on Monday, Nov. 21, 2011 from 6:30pm-8pm at Woodward Avenue Candy Shop (23337 Woodward). Cristina Shepard-Decius announced the event at last Monday’s council meeting, saying “We want to find out business needs for Woodward Avenue. How do you interface with businesses that are along there?”
The DDA uses collected funds from businesses in the district to promote the Downtown area as a whole, with things like festivals, incentive programs for business improvements, maintenance of downtown landscaping, signage and décor, management of parking revenue, and other programs designed to get people shopping and opening up businesses in Downtown Ferndale.
The DDA receives the bulk of its funding through TIF revenue. Since 1981 the TIF area has been Nine Mile from Livernois to Bermuda, and Woodward from E. Breckenridge.
The proposed expansion would bring coverage to just east of Paxton and just west of Pinecrest along Nine Mile, and Woodward from Ten Mile to West Marshall.
79% of the funding that the DDA uses for improvement projects and promotion of the Downtown comes from TIF collections. Property owners in the new area would continue to pay a base level of taxes to the City and the County, but future increases brought about by increased property values would be captured by the DDA.
Monday’s meeting will give residents and business owners an opportunity to share ideas about the future of Downtown Ferndale.
The following meeting will focus on South Woodward. That meeting will be at St. James Community Center (241 Pearson) on Monday, Dec. 5, 2011 from 6:30pm-8:30pm. For more information on DDA events go to www.downtownferndale.com.