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Council approves 20-year LDFA extension, Oakland County agrees to higher TIF capture
Summary
Rochester Hills approved a 20-year restated LDFA development and tax-increment financing plan that city staff said will generate an estimated $1.416 billion over the extension; Oakland County consented to increase its participation capture to 75% under the agreement.
Rochester Hills City Council unanimously approved a restated Local Development Finance Authority (LDFA) development and tax-increment financing (TIF) plan Monday that extends the district for 20 years and maintains existing boundaries, officials said.
City planning and economic-development staff told council the extension does not change zoning,…
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