May 25, 2005
May 25, 2005
LANSING – Governor Jennifer M. Granholm has signed legislation that clears the way for local economic development activities in Battle Creek to proceed as intended under the original Tax Increment Finance Authority (TIFA) Act.
“I am pleased that we have found a way to continue to support the outstanding job creation efforts in the Battle Creek community,” Granholm said. “Battle Creek Unlimited and its economic development partners are critical allies in helping to transform Michigan’s economy.”
House Bill 4482 (Public Act 29 of 2005) resolved a problem that was created when the Battle Creek TIFA entered into a renewable one-year contract with Battle Creek Unlimited, an economic development management company. State law was unclear whether the TIFA could capture school taxes over multiple years with only a one-year renewable contract in place.
With the assistance of Senator Mark Schauer (D-Battle Creek) and Representative Lorence Wenke (R-Richland), officials from the Michigan Department of Treasury, the City of Battle Creek, and Battle Creek Unlimited worked to resolve the problem and ensure that the economic development occurring in Battle Creek can continue.
“Economic development success stories are prevalent in Battle Creek,” said Granholm. “This law will enable the city, its elected officials and economic development experts to keep working on strengthening the community’s future.”
One example Granholm cited of recent economic development success in the area was last week’s announcement that Duncan Aviation will invest $19.5 million to expand its operations in Battle Creek, creating 726 jobs, including 380 directly by the company.
HB 4482 was sponsored by Representative Mike Nofs (R-Battle Creek).
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