Tax Increment Finance Authority (Monroe North TIFA)
The Monroe North Tax Increment Financing Authority (TIFA) is a funding tool Downtown Grand Rapids Inc. administers to help catalyze public and private investment in the Monroe North neighborhood. Funds go to support real private property improvements, build streets and public infrastructure, as well as maintain and expand parks and other public amenities.
Established by the City Commission in 1985 under state law, the Monroe North TIFA's principal source of funding revenue generated by increasing property values within the MNTIFA district. City Commission annually approves the budget. A 9-member Board of Directors appointed by the Mayor with concurrence from City Commission govern the Monroe North TIFA. The Board meets monthly on the second Wednesday. More details are on the City Clerk Page.
The Monroe North Tax Increment Finance Authority Board on May 9, 2018 recommended the TIFA's Fiscal Year 2019 budget for City Commission approval. The fiscal year runs from July 1, 2018 - June 30, 2019.
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