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Council approves 20-year LDFA restatement and Oakland County tax-capture agreement
Summary
Rochester Hills approved a 20-year extension of its Local Development Finance Authority plan and a county tax-sharing agreement that estimates $1.416 billion in taxable value increase and secures a 75% county capture on eligible county millages in the district.
At the Nov. 10 meeting the council approved the 2025 restated LDFA development and Tax Increment Financing plans and authorized the mayor to execute a tax-sharing agreement with Oakland County.
Economic-development staff described the update as a 20-year extension with no boundary changes and no new debt; the plan identifies project categories to complete work left from the LDFA's first 30 years and to continue infrastructure investment supporting businesses and workforce in the district. City consultant and staff said the LDFA anticipates approximately $1,416,000,000 in taxable value growth over the extended term. Oakland County agreed to raise its capture rate for eligible millages to 75% (from a prior 50% position) under terms that require the city to contribute a suitable share.
The council approved the tax-sharing agreement and restated plan by motion (moved by Mrs. Moreland, seconded by Mrs. Neubauer) with unanimous voice vote.
The council and staff said the update satisfies state statutory requirements and will be forwarded to state review before the end of the year; implementation work is expected to begin in 2026.
