Knowledge Base

How does TIFA work?

TIFA is a public Local Development Finance Authority (LDFA), created under Michigan Public Act 281. As with other LDFAs, the Warren TIFA marks out a specific area for strategic investment. This investment is financed initially by bonds, such as those used by TIFA to support a Facade Improvement Program, used to help businesses improve their storefronts. These bonds are repaid, and new revenue is created from a share of the taxes levied on new investment which is set aside for TIFA.

TIFA funds are completely separate from the city General Fund and are meant for targeted, strategic investment. This investment, and additional economic development efforts, are steered by the TIFA Board and TIFA Director. The TIFA ordinance can be found here. Questions can be directed to the TIFA Office at (586) 574-4676.

Updated 3/26/2013 12:32 PM
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