COOPERSVILLE, Mich.—The Coopersville Downtown Development Authority is assessing whether it should keep its Tax Increment Financing Authority (TIFA) district.
During its meeting August 13, the DDA began taking the first step toward determining if the TIFA district should be renewed when its contract expires June 2015.
The DDA TIFA uses library and county tax revenue legally withheld from the government to fund projects aimed at revitalizing downtown. DDA Director Steve Patrick says TIFAs were created a while back for cities that could not afford infrastructure improvements needed to attract and retain businesses.
Patrick says Coopersville’s DDA TIFA is responsible for numerous projects, including transforming the North Parking Lot from a gravel mud hole to a paved, landscaped spot, complete with a pavilion. The DDA TIFA also funded renovations to Main Street, adding sidewalks and revamping the water and sewer systems.