The Downtown Development Authority (DDA) is a funding tool that Downtown Grand Rapids Inc. (DGRI) administers to help catalyze public and private investment in Grand Rapids’ urban core.
To maintain a high level of openness and transparency, the full recording of the live-streamed DDA Board meeting on February 14, 2024, is available on YouTube.
The Board met on this agenda. Included in this agenda is the FY 2023 audit report of the DDA's financials (pg. 16). The Board took the following actions:
DDA Development and TIF Plan Amendment
The Board approved a resolution recommending a boundary amendment and the addition of two new taxing districts for the Grand Rapids Downtown Development Authority (DDA). The proposed expansion areas will allow for additional revenue and investment from and in priority riverfront areas identified in the GR Forward plan. The proposed amendments will not increase any property taxes or divert any special millage revenue.
The Board approved the resolution unanimously and a request to set a public hearing will be made with the Grand Rapids City Commission.
Acrisure Amphitheater Support
The Board approved a Memorandum of Understanding (MOU) with the City of Grand Rapids to commit DDA support for debt service payments over 20 years for the construction of the Acrisure Amphitheater. DDA support will cover $20,500,000 plus interest over the 20 year bond, which will be issued by the City of Grand Rapids. This contribution will supplement $70 million of private funding support, grant funding worth $30 million from the State of Michigan, $22 million from the Convention Arena Authority and $15 million from Kent County. Annual payments from the DDA are estimated at $1.5 million. Construction is scheduled to be completed sometime in 2026.
The Board approved the resolution unanimously.
407 Pearl St. Authorization
The Board approved a resolution to accept the donation of 407 Pearl St. NW to the DDA. The land is prioritized as part of the larger Downtown soccer stadium project. Due diligence for the project is currently being conducted by Grand Action 2.0, including community and stakeholder engagement, property acquisition and funding identification. Final decisions related to the project will be made in the coming months and the DDA will remain a partner in those discussions.
The Board approved the resolution unanimously.
2 E. Fulton Development Support Assignment
The Board approved a resolution authorizing the assignment of tax increment revenue for the reimbursement of eligible expenses for the development at 2 East Fulton and 12 South Division (Tower Pinkster office). Reimbursement was approved in 2017 but could not be completed until reimbursements from the City of Grand Rapids Brownfield Authority were completed in 2023. The total reimbursement from the DDA to the project is $189,925.
The Board approved the resolution unanimously.
Community Garden Support
The Board approved funding to support the construction of an accessible community garden at the north end of Las Canchas, the community futsal courts owned by the DDA at 250 Seward Ave. NW. Funding will support the construction of 40-50 raised gardening beds, irrigation services and programming services. This project addresses multiple goals from the GR Forward plan, including increased fresh food access and the greening and activation of public space Downtown.
The Board approved funds not to exceed $87,000 to support the community garden project.
