2015 House Bill 4422

Authorize Woodward streetcar property owner subsidies

Introduced in the House

April 14, 2015

Introduced by Rep. Andy Schor (D-68)

To authorize “business improvement district” subsidies financed by a tax increment financing scheme for property owners near a proposed Woodward Avenue streetcar line in Detroit. Tax increment financing authorities collect the extra local property tax revenue that (hopefully) results from property value increases generated by their selective subsidies and projects and use this money to repay the debt they incur on projects and providing subsidies.

Referred to the Committee on Commerce and Trade