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Township approves loan documents to correct prior DDA PILOT distributions; board votes to make taxing jurisdictions whole
Summary
After an audit finding, the board authorized interfund loan documents so the Downtown Development Authority can remit Payment‑In‑Lieu‑of‑Taxes (PILOT) funds to other taxing jurisdictions for tax years 2018–2021 plus interest.
The Township Board voted Jan. 13 to authorize township staff to prepare and execute interfund loan documents so the Downtown Development Authority (DDA) can make required distributions of payment‑in‑lieu‑of‑taxes (PILOT) receipts to other taxing jurisdictions for tax years 2018–2021, plus annual interest.
Township Finance Director Teresa told the board that an audit revealed PILOT payments associated with Island Woods senior housing had been captured by the DDA fund but, following a records review and consultation with township auditors and attorneys, the township determined the funds should have been distributed to the taxing jurisdictions (including local schools and Wayne…
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