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City hears Aerotropolis LDFA plan to fund Inkster Road upgrades; council approves moving forward
Summary
Aerotropolis representatives presented a tax-increment financing plan to help upgrade Inkster Road from Class B to Class A tied to a Great Lakes Water Authority water-main project; council approved formation of the LDFA/TIF for the corridor with clarifications about school tax capture under state law.
Aerotropolis representatives told Taylor City Council they are proposing a Local Development Finance Authority (LDFA) and tax-increment financing plan for the Inkster Road corridor to generate funds over 5–15 years to help upgrade the roadway to Class A standards in coordination with an upcoming Great Lakes Water Authority water-main project.
Chris Gerdwood, representing Aerotropolis, said the LDFA model would wrap a TIF district around the Inkster Road corridor on the city’s west side to capture…
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