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Commission approves TIF 97 ballot language that assumes 70% DDA capture and 7% growth projection
Summary
The commission approved ballot language for a TIF 97 modification to be placed before voters in November 2026. City Attorney Kelly said the revised resolution states 70% DDA capture and uses a historical 7% annual growth projection over 20 years in the financial projection.
The commission approved ballot language for the Traverse City Downtown Development Authority's proposed TIF 97 plan to appear on the November 2026 ballot.
City Attorney Kelly explained the revisions: in order to align with the city's implementation policy and charter requirements the proposed resolution removed fixed 70/30 split references from the body of the ballot text and clearly stated the DDA capture is 70% and that the projection uses a historical growth assumption of about 7% per year over 20 years. Kelly said the changes were made after significant public and staff input following a July 6 discussion.
Commissioners debated whether to round projection numbers and discussed transparency for voters about how captured value is described. DDA counsel read the relevant statutory language from the Tax Increment Financing Act to remind the commission that captured assessed value may be shared among taxing jurisdictions.
Commissioner Heather moved to approve the resolution placing the TIF 97 modification on the ballot; the motion was seconded and the commission approved the ballot language. Public commenters asked what steps would follow if voters rejected the measure; staff responded that the city and DDA would continue budget and capital discussions but that the charter and state procedures require language and a voter decision for the extension/modification.
