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Marquette extends downtown TIF to 2054, adopts 5% revenue‑share with DDA
Summary
The Marquette City Commission on Aug. 11 approved Tax Increment Financing (TIF) Plan No. 5 — extending the downtown DDA TIF to 2054 — and a companion revenue‑sharing agreement that will send 5% of DDA gross TIF revenues to the city, both by 7–0 votes.
The Marquette City Commission voted 7–0 on Aug. 11 to adopt Tax Increment Financing (TIF) Plan No. 5 for the Marquette Downtown Development Authority (DDA), extending the district's TIF term to Feb. 1, 2054, and separately approved a revenue‑sharing agreement under which the city will receive 5% of the DDA's gross TIF revenues, with a mandatory five‑year review schedule.
The DDA director, Tara, told commissioners the extension is intended to provide time to deliver a set of priority capital projects in the downtown plan adopted in 2020. She said the DDA's list of project priorities includes a Berghast Street improvement (estimated $7.5 million), Third Street connections ($2.8 million), Market Commons improvements ($3 million) and a multi‑project parking redevelopment bucket (an estimated $15 million for potential lots or garages). "Extending to 2054 enables project delivery and community transformation," Tara said.
Why it matters: the extension length lets the DDA bond against long‑term revenues to finance multi‑year projects and aligns with the DDA's downtown…
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