DOWNTOWN DEVELOPMENT 

Downtown Mt. Pleasant, also known as the Central Business District (CBD), functions as both a Principle Shopping District (PSD) and Tax Increment Financing Authority (TIFA) District.   

PRINCIPLE SHOPPING DISTRICT (PSD)

The goals of the PSD are to “initiate projects and programs to halt property value deterioration and increase property tax valuation in designated districts, to eliminate the causes of deterioration, to promote economic growth and encourage expansion of commercial and industrial enterprises in the designated districts.”  Public Act 120 (1961)  

Goals of the PSD

n     Providing marketing and promotions - businesses have many opportunities to participate in low cost, effective advertising campaigns and special events aimed at bringing customers or clients to their doors.

n     Creating a healthy business environment - including recruitment and retention strategies, public use permits and maintaining a clean and attractive streetscape.

n     Acting as an advocate - by representing business interests in dealings with City departments, City Commission and other policy-makers.

n     Providing a unified voice - the Principal Shopping District ties together diverse businesses, residents and elected officials to foster mutual support, cooperative efforts and a sense of shared accomplishments.

n     Leadership on revitalization – the Downtown Development staff and Board work ensure a vital, attractive downtown environment.

PSD governing body
The Downtown Development Board (DDB) consisting of property and business owners and allied partners manages the Principle Shopping District as based on Public Act 120 (1961) requirements. 

PA 120 (1961)

The DDB monthly meetings are held on the third Friday of each month at 8:00 a.m. in the upstairs conference room at City Hall (401 N Main Street) and are open to the public. 

Tax Increment Financing Authority (TIFA)

In addition to financial contributions from the City’s General Fund, downtown Mt. Pleasant improvements are funded by both Special Assessments and what is commonly referred to as a TIFA District.  The tax increment financing authority (TIFA) approach is based on the concept of "captured assessed value", which refers to the increase in assessed valuation of the project area in any given year over the value at adoption of the TIFA development plan.   

The TIFA Board monthly meetings are held on the second Wednesday of each month at 8:00 a.m. in the upstairs conference room at City Hall (401 N. Main Street) and are open to the public. 

Downtown Development Links:

Downtown Mt. Pleasant web site

HyettPalma Blueprint for Downtown (Dec. 2003)