Combine efforts and leverage shared resources that promote responsible use of taxpayer dollars to improve the business community and programs directed toward revitalizing the city of Allen Park Economic Base.
Resources that can provide incentives on qualified programs
Neighborhood Enterprise Zone (NEZ) Program that was established by Public Act 147 of 1992. The program provides a tax incentive for the development and rehabilitation of residential housing. A qualified local unit of government (Core Communities) may designate one or more areas as a NEZ within that local unit of government. The program was established to spur the development and rehabilitation of residential housing in communities where it may not otherwise occur. The program also encourages owner-occupied housing and new investment in communities.
The Brownfield Single Business Tax (SBT) Credit, Public Act 143 of 2000 into the right project to get the best results for the tax payer dollars. A municipality may create a Brownfield Redevelopment Authority to develop and implement brownfield projects. The Brownfield Redevelopment Authority is a resource that may use Tax Increment Financing (TIF) and allow developers to apply for Single Business Tax (SBT) Credit incentives.
The Urban Land Assembly (ULA) Program was established in 1981 by Public Act 171 of 1981. This program provides financial assistance in the form of loans to eligible municipalities for the acquisition of certain real property for economic development purposes, including industrial and commercial projects. The program is directed toward revitalizing the economic base of cities experiencing economic distress and decline.
The Local Development Financing Act (LDFA), Public Act 281 of 1986. Allows a city, village, or urban township to utilize tax increment financing to fund public infrastructure improvements. The tool is designed to promote economic growth and job creation. Communities across Michigan have utilized this tool to extend sewer and water lines, construct roads, service manufacturing, agriculture processing or high technology operations.
The CDBG program is a federally funded program dating back to 1974. The program is designed to provide eligible local units of government with grants to assist low and moderate income people, eliminate slum and blight, or meet an urgent need.
The Tax Increment Finance Authority (TIFA) was created in 1980. To help eligible cities to stop the decline of property value in a specific area. In addition, TIFA districts are designed to increase the property tax valuation of the area and to eliminate the causes of the decline in property values. In short, TIFA districts promote growth in a specific area within a city.
Michigan Economic Development Corporation (MEDC) This program provides financial assistance in the form of loans to eligible municipalities for the acquisition of certain real property for economic development purposes, including industrial and commercial projects.
The Wayne County Department of Economic & Neighborhood Development The County can promote job development through programs that improve the environmental and transportation systems of the County that, in turn, improve the climate for business development.
TURBO, which stands for Transforming Underdeveloped Residential & Business Opportunities, is a program of the Wayne County Land Bank. Its purpose is to provide economic incentives to encourage new developments and improvements to property within Wayne County. TURBO reimburses investors by giving cash back to property owners who make significant real estate investments in Wayne County.
The Downriver Community Conference Provides leadership in establishing common, positive goals and strategies to develop the human, social and economic assets of the Downriver area; enhance the quality of life for area residents, workers and businesses; shape public policy at federal, state, regional, county and local levels; and identify, obtain and responsibly manage the necessary financial resources to successfully implement this vision.
The Leadership in Energy and Environmental Design (LEED) Green Building Rating System encourages and accelerates global adoption of sustainable green building and development practices through the creation and implementation of universally understood and accepted tools and performance criteria.
Southeast Michigan Council of Governments (SEMCOG) Promotes efficient local government, helping member communities in the areas of transportation, environment , regional growth, and education.
The Southeast Michigan Community Alliance (SEMCA) One of 15 coordinating agencies created by the state to administer block grant and substance abuse services to insure that individuals in our region have easy access to the right treatment for their success.
Michigan Suburbs Alliance unites and strengthens metropolitan Detroit's mature suburbs by elevating regional cooperation, reforming public policies and innovating redevelopment strategies.
Allen Park Economic Development Department