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Finance committee approves Amendment 2 to Lyon Township tax‑sharing agreement, advancing $13 million in TIF projects
Summary
The Oakland County Finance Committee on July 17 approved Amendment No. 2 to the tax‑sharing agreement between Oakland County, the Charter Township of Lyon and the Lyon Township Downtown Development Authority (DDA), moving the measure to the full county board on the consent agenda.
The Oakland County Finance Committee on July 17 approved Amendment No. 2 to the tax‑sharing agreement between Oakland County, the Charter Township of Lyon and the Lyon Township Downtown Development Authority (DDA), moving the measure to the full county board on the consent agenda.
The amendment would permit additional tax‑increment financing (TIF) capture to support 11 projects in the Lyon Township development plan, presenters said. Township representatives told the committee the funding request is for an additional $13,000,000 to complete the projects.
Why it matters: County and township officials said the TIF amendment targets infrastructure and placemaking projects that Township leaders say are needed to sustain recent growth in Lyon Township, including improvements that affect private development parcels and county property such as the Oakland Southwest Airport.
Presenters and staff framed the amendment…
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