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.
A regular report of the progress toward achieving the community's goals for Downtown Grand Rapids.
Fiscal Year 2021 Budget Recommendation
The Monroe North Tax Increment Finance Authority Board on April 8, 2020 recommended the TIFA's Fiscal Year 2021 budget for City Commission approval. The 2021 fiscal year runs from July 1, 2020 - June 30, 2021. The City Commission is expected to consider authorizing the budget on April 28, 2020.
The Grand Rapids City Commission on May 14, 2019 approved the TIFA's recommended budget. The TIFA Board adopted the FY2020 budget on August 14, 2019. The 2020 fiscal year runs from July 1, 2019 - June 30, 2020.
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