Local Development Finance Authority (LDFA)
The City of Mt. Pleasant Local Development Finance Authority (LDFA) provides funding for the University Park SmartZone. The SmartZone was created in late 2000 to develop a certified technology park and increase high technology jobs in the Mt. Pleasant area. The park is located adjacent to the Central Michigan University (CMU) campus.
Meeting Information
Unless otherwise noted, the Local Development Finance Authority meets quarterly at 7 a.m. The meetings are held at the MMDC Office, 200 East Broadway. Please see roster or call (989) 772-2858 for more information.
Notices
Agendas/Packets
2009-Current Meeting Minutes
* For minutes prior to 2009 please contact Mary Ann Kornexl at (989) 779-5381 or mkornex@mt-pleasant.org.
District Maps
SmartZone and Local Capture Boundary Map
Funding Method
LDFA is funded by a portion of the property taxes from the properties located within the district. The LDFA Board then determines how the funds will be utilized, which directly or indirectly benefits all properties within the district. The development plan provides for marketing and administration expenses to CMU Research Corporation (CMURC) and Middle Michigan Development Corporation (MMDC).
The plan also provides for possible improvements to sidewalks, street lights, water, sewer, signage, landscaping, etc. Improvements will follow City standards and the CMU Covenants and maybe made in whole or in part with SmartZone tax Capture.
Current Capture Rate - 0%
Annual Budgets
University Park LDFA 2022 Amended and 2023 Proposed Budget
University Park LDFA 2021 Amended and 2022 Proposed Budget
University Park LDFA 2020 Amended and 2021 Proposed Budget
Annual Audit
See pages 1-12 and 58-61 of the City’s 2021 audit for details.
A link to the 2021 audit can be found here.
TIF PA 57 Annual Reports
Status of Tax Increment Financing Plan for Fiscal Year Ending 2021
Status of Tax Increment Financing Plan for Fiscal Year Ending 2020
Status of Tax Increment Financing Plan for Fiscal Year Ending 2019
Current Adopted Plans
Tax Increment Financing Plan and Development Plan
Contracts
Central Michigan Research Corporation
Middle Michigan Development Corporation
Synopsis of Activities (Accomplishments/Projects/Investments/Fund Balances)
- Total Fund Balance $153,097 consisting of:
- Assigned for Plan Close Out $153,097
Current Membership and Staff Contacts (term ending)
A seven-member advisory board oversees the operation of the LDFA. Board members are appointed by the City Commission and the at large members serve staggered four-year terms. Board Members are not paid.
- Margaret McAvoy (County Representative)
- Jennifer Verlerger (Mt. Pleasant Public Schools Representative)
- Aaron Desentz (City Representative) Alternate: Mary Ann Kornexl
- Mary Hill (Central Michigan University Representative)
- Vacant (December 31, 2020)
- Rick Barz (December 31, 2023)
- David McGuire (December 31, 2023)
The staff liaison for the LDFA is Jim McBryde, MMDC President, and can be reached at (989) 772-2858 or jmcbryde@mmdc.org
Commission Related Links