Members of the Plymouth Redevelopment Commission approved spending up to $5,000 with Umbaugh Financial for a Tax Impact Study. The study is necessary prior to the creation of a 4th TIF (Tax Incremental Financing) District.
The study looks at the impact on the other taxing units in creating this new TIF District. Initially plans are for the district to start out small,on the east side of Michigan Street between the Yellow River and Lake Street. It would extend to the east picking up the two residential lots there. Eventually the district could expand to the west side of Michigan Street a toward the west side.
City Attorney Sean Surrisi said only two properties currently on the tax rolls will be moved into the TIF District so the impact to the other taxing districts should be minimal.