MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY. Amended and Restated Tax Increment Financing and Development Plan

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1 MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY Amended and Restated Tax Increment Financing and Development Plan Originally adopted: Amended: Amended: Amended and Restated: Amended: Amended and Restated: October 10, 1983 December 27, 1984 July 11, 1988 July 1, 1996 December 31, 2005 November 30, 2015

2 CITY OF MCBAIN CITY COUNCIL MAYOR: Clark Dykhouse COUNCIL MEMBERS Mayor Pro-Tern: Members: Chuck Heethuis Chuck Decator DonnaLutke Bernie Scholten DonHeuker Ken Stahl MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY BOARD OF DIRECTORS Chairperson: Vice-Chairperson: Secretary: Members: DIRECTOR: Herb Bronkema Clayton Gilde Mike Kubiak Wayne Baas Steve Elenbaas Clark Dykhouse Tom Vine Tyler Lutke Ed Meyering Sharon Noordhoek Bruce Taylor Robert B. Jones ATTORNEYS Susan M. Wyngaarden, Varnum LLP Mary Kay Shaver, Varnum LLP

3 TABLE OF CONTENTS SECTION 1 --INTRODUCTION A. Purpose of the Downtown Development Authority Act B. Creation of the DDA and Adoption of the Plan C. Functional Goals And Policies SECTION II -- DEVELOPMENT PLAN A. Development Area B. Location and Extent of Streets, Public Facilities and Land Uses Existing Street System East and West Streets North and South Streets Existing Public Facilities a. Municipal Water System b. Sanitary Sewer c. Storm Sewer d. Public Lands and Buildings e. Public Utilities f. Community Facilities g. Railroad Rights-of-Ways The Location, Character and Extent of Existing Public and Private Land Uses The Location, Character and Extent of Proposed Public and Private Land Uses C. Existing Improvements to be Demolished, Repaired, or Altered D. Location, Extent, Character and Estimated Costs of Proposed Improvements E. Projects Accomplished Under Original Plan and Amended Plan F. Construction Stages G. Open Space H. Dispositions of Property to or From the City I. Changes in Zoning, Streets, and Utilities Zoning Changes Changes in Streets, Street Levels, or Intersections Changes in Utilities J. Development Financing l4 K. Conveyance of Property to or from the DDA l5 L. Procedures for Conveyance of Property M. Estimate of the Number of Persons Residing in the Development Area and Displacement N. Displacement and Relocation Plan Displacement and Relocation Costs P. Compliance with Act 227 of the Public Acts of Q. Increase in Property Value- Need for Tax Increment Financing

4 SECTION III- TAX INCREMENT FINANCING PLAN A. Development of Captured Assessed Value B. The Tax Increment Procedure C. Estimates of Captured Assessed Values and Tax Increment Revenues D. Use oftax Increment Revenue E. Bonded Indebtedness To Be Incurred F. 2 Mill Levy for DDA G. Operating and Planning Expenditures H Taxing Jurisdiction Agreements : I. Justification for Tax Increment Financing J. Preparation of Tax Increment Worksheets K. Preparation of Taxing Jurisdiction Reports L. Establishment of Project Fund M. Payments of Tax Increments to DDA N. Michigan Property Tax Reform Duration of the Plan P. Impact on Assessed Values and Tax Increment Revenues of Other Taxing Jurisdictions Q. Reports Annual DDA Report Personal Property Reports INDEX OF TABLE Table 1 Development Activities and Costs INDEX OF MAPS MapA MapB MapC Development Area... M-1 City of McBain Zoning MaP... M-2 Proposed Improvements under Plan M-3 INDEX OF APPENDICES Appendix A Appendix B Location, Character and Extent of Land Uses... A-1 Schedule of Estimated Tax Increment Revenues and Projected Impact On Taxing Jurisdictions... B-1 Appendix C Tax Increment Worksheet C-1 11

5 SECTION 1 INTRODUCTION A. PURPOSE OF THE DOWNTOWN DEVELOPMENT AUTHORITY ACT This Amended and Restated Tax Increment Financing and Development Plan (the "Plan") of the McBain Downtown Development Authority (the "DDA'') has been prepared pursuant to the provisions of the Downtown Development Authority Act, Act 197 of the Michigan Public Acts of 1975, as amended ("Act 197"). Act 197 was enacted to provide for the establishment of a downtown development authority; to prescribe its powers and duties; to correct and prevent deterioration in business districts; to encourage historic preservation; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans in the districts; to promote the economic growth of the districts; to create a board; to prescribe its powers and duties; to authorize the levy and collection of taxes; to authorize the issuance of bonds and other evidences of indebtedness; to authorize the use of tax increment financing; to reimburse downtown development authorities for certain losses of tax increment revenues; and to prescribe the powers and duties of certain state officials. Tax increment financing is a government financing program which contributes to economic growth and development by dedicating a portion of the increase in the tax base resulting from the economic growth and development to facilities, structures or improvements within a development area, thereby facilitating economic growth and development. Tax increment financing mandates the transfer of tax increment revenues by municipal and county treasurers to authorities created under Act 197 in order to effectuate the legislative government programs to eliminate property value deterioration and to promote economic growth. Act 197 seeks to accomplish its goals by providing local units of government with the necessary legal, monetary and organizational tools to eliminate property value deterioration and to promote economic growth through publicly initiated projects undertaken cooperatively with privately initiated projects. This Plan has been developed in accordance with the purposes of Act 197, based on the problems and priorities as perceived by the City of McBain and the DDA, and as submitted for the approval of the City Council of the City of McBain. B. CREATION OF THE DDA AND ADOPTION OF THE PLAN In 1983, the City Council (the "City Council") of the City of McBain (the "City") established the DDA by the adoption of Ordinance No. 39, as further amended by the adoption of Ordinance No. 43 on August 13, 1984, as further amended by the adoption of Ordinance No. 44 on November 12, 1984, as further amended by the adoption of Ordinance No. 46 on October 14, 1985, as further amended by the adoption of Ordinance No. 64 on October 8, The DDA is 1

6 under the supervision and control of a board established under Act 197 (the "DDA Board") with the powers granted by Act 197. The City Council adopted a Tax Increment Financing and Development Plan for the DDA on October 10, 1983, as amended on December 27, 1984, as further amended on July 11, 1988 (the "Original Plan"). Effective as of July 1, 1996, the City Council adopted an Amended and Restated Tax Increment Financing and Development Plan, as amended on December 31, 2005 (the "Amended Plan"). The DDA has played an important role in the successful planning, development, and financing of improvements in the City since its organization. Several of the Original Plan's and Amended Plan's projects have been completed and the Amended Plan is scheduled to expire on December 31, New projects and goals have been identified by the City Council with input from the DDA Board. The DDA and the City desire to amend and extend the Amended Plan to incorporate these projects and goals. On September 21, 2015, the DDA Board adopted a resolution approving and recommending this Plan to the City Council. The DDA and the City Council offered to hold a meeting with the taxing jurisdictions for the purpose of affording a reasonable opportunity for each taxing jurisdiction to express their views and recommendations regarding the tax increment financing plan included in this Plan. The public hearing required by Act 197 was held on November 9, 2015, following notice as required by Act 197. On November 9, 2015, the City Council adopted Ordinance No. 68 approving this Plan. This Plan became effective on the November 30, 2015 (the "Restatement Date"). The primary intention of the DDA is to encourage economic growth through proper planning and provision of necessary and desirable public improvements in the Development Area (as defined below). The following text sets forth the development plan and the tax increment financing plan in accordance with Act 197. C. FUNCTIONAL GOALS AND POLICIES The mission of the DDA is to "create a functional, attractive business district to meet the needs of the community." The functional goals outlined below address specific areas of particular attention in order to carry out this mission in the development of the Development Area. The policy recommendations represent methods of implementing the functional goals. 1. Goal - Encourage an improved environment for development and redevelopment of commercial buildings and land. Policy Recommendations: a. Develop a cooperative relationship between property owners, businesses, service clubs, and private developers in the Development Area. b. Acquire land within the Development Area and prepare sites for expansion of commercial facilities. 2

7 c. Encourage development of vacant parcels. d. Discourage incompatible land uses in the Development Area through proper land use controls. e. Coordinate public improvements with planned, private investment. f. Use public improvements in the Development Area as -a catalyst for private investment. g. Complete an inventory of business types and conduct a survey to determine residents' needs and attitudes regarding local business as well as to identify spending patterns and market preferences. 2. Goal- Improve overall parking and circulation of traffic. Policy Recommendations: a. Improve circulation patterns for automobile and pedestrian traffic. b. Consider improved parking and circulation in the rear of commercial buildings in the Development Area to improve the general appearance and access. 3. Development Area. Strive for improved public and semi-public infrastructure within the Policy Recommendations: a. Study the need for improving and upgrading the water and storm sewer systems for the Development Area and improve as necessary. b. Provide street improvements where necessary within the Development Area. c. Expand and improve the existing sidewalks in the Development Area where appropriate. d. Provide for the burying of all utility lines. 4. Goal- Improve the overall appearance ofthe Development Area. Policy Recommendations: a. Provide amenities, such as street lighting, landscaping, signs, street and sidewalk improvements, and other amenities, to foster a more pleasing environment. b. Conduct a design plan, establish a theme, and identify public space needs and beautification standards. c. Unify streetscape and storefronts with cohesive design aspects and compatible architecture. d. Regulate size, location, and appearance of business signs to lend order to the downtown environment and enhance the architectural statement of downtown buildings. 3

8 5. Goal - Create an aesthetically pleasing environment. Policy Recommendations: a. Use signage and signalization as coordinated improvements: b. Make better utilization of existing features adjacent to such areas as the railroad right-of-way for the development of public spaces. 6. Goal - Encourage development of additional public spaces in the Development Area and improve the existing facilities. Policy Recommendations: a. Encourage improvements to existing facilities. b. Provide additional amenities, such as public restrooms. c. Provide sidewalk extensions in small parks and leisure areas to coordinate with existing facilities. d. Encourage street widening or bike routes to provide for pedestrian and bicycle traffic. 4

9 SECTION II DEVELOPMENT PLAN A. DEVELOPMENT AREA (SEE ATTACHED MAP A) A downtown development authority exercises its powers in development areas designated under Act 197. The DDA has designated the entire DDA district as a development area (the "Development Area"). The Development Area generally encompasses an area centrally located within the City. It is generally located in the southeast quadrant of the City and bounded by Grace Street and the railroad right-of-way on the west, Maple Street on the north, the east city limits, and the end of Hughston Street on the south, excluding most residential property in that area. It is described by the legal description as provided below: Part of the City of McBain, Missaukee County, Michigan, described as commencing at the centerline intersection of Maple Street and Grace Street; thence Easterly along the centerline of Maple Street to the Northeast corner of the Alice Phillips' addition to the Village of McBain; thence Southerly along the East line of said addition to the Southeast corner of Lot 23; thence Westerly to the Southeast corner of Lot 1 of Alice Phillips' addition; thence Northerly to the Northeast corner of Lot 1 0 of said addition; thence Westerly to the Northwest corner of said Lot 10; thence Southerly to the Southeast corner of said Lot 14 of said addition; thence Westerly along the South line of Lots 14 and 3 5 of Alice Phillips' addition to the centerline of an alleyway located between Harrison Street and Cottage Grove Avenue; thence Northerly along said centerline to the intersection of the extension of the South line of Lot 20 of G & J McBain's addition to Village of Owen; thence westerly along said lot line to the intersection of the centerline of Harrison Street; thence Southerly along the centerline of Harrison Street to the intersection of the extension of the South line of Lot 17 of said G & J McBain's addition; thence Westerly along the South line of said Lot 17 to the centerline of an alleyway located between Hemlock Street and Harrison Street; thence Southerly along the centerline of said alleyway to the intersection of the extension of the South line of Lot 2 of G & J McBain's addition; thence Westerly along the South line of said Lot 2 of G & J McBain's addition and the South line of Lot 12 of the Map of Owens extended the centerline of a 16 foot alleyway located between Roland Street and Hemlock Street; thence Southerly along the centerline of said alleyway to the North right-of-way of Elm Street; thence Easterly along said right-of-way to the Northerly extension of the Westerly right-of-way of Hemlock Street according to Hughston Estates; thence Southerly along said Westerly right-of-way to the Northerly corner of Unit 1 at Hughston Estates; thence Southwesterly along the Northwesterly line of said Unit 1 to the Westerly corner of said Unit 1; thence Southeasterly along the Southwesterly line of said Unit 1 to a point that is approximately feet South of the South line of Alice Phillips' Addition to the Village of McBain; thence Westerly to the 5

10 Easterly right-of-way line of the Tuscola Saginaw Bay Railroad; thence Northwesterly along said railroad right-of-way to its intersection with the centerline of Grace Street; thence Northerly along said centerline to the place of beginning. B. LOCATION AND EXTENT OF STREETS, PUBLIC FACILITIES AND LAND USES 1. Existing Street System The following public streets are within the Development Area: East and West Streets Maple Street: Grace Street to the east City limits Elm Street: East of the railroad right-of-way Euclid A venue: Grace Street to alleyway between Roland and Hemlock Streets North and South Streets Hughston Street: Entire length Grace Street: Maple Street to railroad right-of-way (East one-half ofright-of-way, only) Roland Street: Maple Street to Elm Street Hemlock Street: From Maple Street approximately 150 feet south Harrison Street: From Maple Street approximately 1 00 feet south Cottage Grove Street: South of Maple Street 2. Existing Public Facilities a. Municipal Water System - The municipal water system was first installed in the 1920's (an elevated water storage tank, well field, and distribution lines) and has been upgraded on a piecemeal basis as needed. Within the Development Area there now exists distribution lines of various sizes. Some improvements have been accomplished in recent years. The City Council has determined that the City needs to upgrade its water system and that the costs should be shared among the City, and the Tax Increment Finance Authority ofthe City ofmcbain (the "TIFA") and the DDA. b. Sanitary Sewer - The municipal waste water collection and treatment facility was begun in 1979 and completed in The facilities within the Development Area consist of gravity collector sewers and forcemain along Maple. Street to the treatment facility. The main pump station serving the entire City is located on the east side of Cottage Grove A venue. c. Storm Sewer - The Development Area drains from west to east and outlets to an unnamed tributary of the North Branch Creek. The main storm sewer system in the Development Area was installed with the construction of M-66 and is under the jurisdiction of the Michigan Department of Transportation. Elm Street has a 6

11 combination of storm sewers and open ditches that carry the majority of the storm drainage of the southern portion of the City from west to east. This drainage outlets to North Branch Creek. Most of the drainage in the Development Area is functioning satisfactorily although the storm sewer system is not sufficient to handle the anticipated runoff from storm events. Flood waters that cannot be handled with the sewer system is conveyed to the east in the gutters of the streets. This two-level storm system is good design practice. The area north of Maple Street near the Development Area should have additional, larger capacity sewers built and overflow relief swales constructed for larger storms. This would prevent flooding of these areas. A new storm sewer system should be constructed along Elm Street from Pine Street to east of Harrison Street. This system should be designed to contain larger storm event within the piping system to prevent flooding and to allow the City to install curbs along the streets. This would also enhance future development of this area. d. Public Lands and Buildings - The city maintenance garage, fire barn and meeting room, along with an ambulance service, are located within the Development Area on Euclid A venue. The county garage is located on Cottage Grove between Euclid Avenue and Maple Street. e. Public Utilities - ATT Telephone Distribution System Switching System, Consumers Energy Company, Summit Digital Internet and Cable TV all have facilities within the Development Area. f. Community Facilities- No school, parks, recreation areas, or libraries are located in the Development Area. However, there are two group physician primary care facilities, a chiropractor, dentist, senior care and nursing home, a CPA firm, a full service bank, and a pharmacy. g. Railroad Rights-of-Ways- A railroad right-of-way serves as a portion of the West boundary line of the Development Area. 3. The ocation, Character and Extent of Existing Public and Private Land Uses. Attached as Appendix A is a listing of each parcel included within the Development Area. There are 26 real property records, 24 personal property records, 26 residential parcels, and a vacant commercial parcel. See also Section II.B.2 above describing the existing public facilities and land uses. Most of the personal property can be directly associated with a real property location. However, there are certain personal properties that are non-locational or that cannot be identified with a particular parcel. These include personal properties belonging to utilities, cable companies, and advertising companies, etc. For the purposes of establishing base year SEV, a 7

12 percentage of the total value for these properties was assumed to be located within the Development Area. Personal property in this category includes Consumers Energy Company and Michigan Consolidated Gas Company. 4. The Location. Character and Extent of Proposed Public and Private Land Uses: The City of McBain Master Plan designates future land uses for the Development Area and the City as a whole. The City of McBain Zoning Ordinance, adopted in December 1991, designates specific land use for all areas of the City, including the Development Area. Generally, it indicates residential, commercial and public areas in the Development Area. See the attached Map B. In addition, the proposed public and private land uses and other planned development activities in the Development Area are described in Section II.D. below. C. EXISTING IMPROVEMENTS TO BE DEMOLISHED, REP AIRED, ORAL TERED The DDA may acquire properties that are not consistent with the development in the Development Area and demolish buildings located on such properties. The DDA may demolish the former Missaukee County garage located on Cottage Grove Street in order to complete or renovate the property. See Section II.D.7 below. The DDA may create, operate, and fund a loan program to fund improvements for existing buildings located in a Development Area to make them marketable for sale or lease. The DDA may make loans with interest at a market rate or may make loans with interest at a below market rate, as determined by the DDA Board. Pursuant to such contracts, the DDA may advance up to $50,000 for any one business for payment of an approved project. The amounts advanced shall be repaid to the DDA in approximately equal monthly or quarterly installments over a period of not to exceed ten years or the remaining duration of this Plan, whichever is shorter, and all amounts must be repaid prior to the termination of this Plan. Such contracts shall be adequately secured by a mortgage, security agreement, assignment of rents, and/or guaranties as determined by the DDA. The aggregate amount of DDA funds outstanding at any time pursuant to this building rehabilitation program shall not exceed $200,000. All funds to support this program shall come exclusively from tax increment revenue. D. LOCATION, EXTENT, CHARACTER AND ESTIMATED COSTS OF PROPOSED IMPROVEMENTS (SEE ATTACHED MAP C) The following list of activities is a general program of development. These are not in order of priority. Project costs have been estimated using projections for construction, unit prices, hourly rates, miscellaneous costs, etc. as of the Restatement Date. Actual costs for projects with a future completion date may increase due to economic conditions (i.e., inflation, interest rate fluctuations), bidding conditions, slight project modifications to conform with current conditions or unknown circumstances that might impact or require alteration of currently expected projects and plans. It is the intention of the DDA to complete the project as anticipated and not restrict the completion of a project because of limited cost estimate. As such, the estimates of extent, time and costs, etc., may change somewhat over the life of this Plan. The location of each project is shown on the attached Map C. 8

13 1. New City Building: The City presently operates its departments at various office locations of the various administrator's choice. These include the homes of the City Clerk, the City Treasurer, and the City Planning and Zoning Administrator. Other locations include the offices of the Mayor, City Assessor and the Director of the DDA and TIF A. The locations of these offices change with the election of or hiring of new people to administer the various offices. Members of the City Council and the Boards of the DDA and TIF A anticipate cooperating to construct an administrative building that would house all of the necessary offices for the City, the DDA and the TIFA. Estimated cost is $150, New Professional Offices: The McBain Professional Building consists of 7,000 square feet of office space and is fully occupied. The DDA seeks to attract new professionals such as specialized medical, legal, and other services by helping them to purchase or lease office space in an existing remodeled building or new building. Estimated cost is $100, Signage and Attractions: The main downtown business artery is Roland Street, which is perpendicular to M-66 (alk/a Maple Street). Many travelers driving through the City on M-66 do not realize that the downtown business district exists until they are beyond the intersection of M-66 and Roland Street, so they keep on driving without stopping in the downtown business district. The DDA is exploring the construction of signage or special attractions on Roland Street to entice commuters on M-66 to turn on to Roland Street. Estimated cost is $ 100, Advertising: The DDA Board wants to support City businesses by promoting the concept of shopping locally. Various forms of advertising individual or a group of businesses are being explored. The DDA would augment these efforts by advertising the City as a good place to shop and conduct business. Estimated cost is $4,000 annually or $100,000 total. 5. Storm Drainage System: Consideration should be given to improving the storm drainage system in some areas within the Development Area. Drainage improvements may include but are not be limited to land and easement acquisition and the installation of culverts, underground piping, open ditches, and retention/detention basins. A storm sewer study that evaluated the existing capacities and problems of the City's storm sewer system was completed in June The study made recommendations for improvements to eliminate problem areas but did not take into account changes in runoff volumes due to new development, because it was felt that the City was, for the most part, fully developed. Estimated cost is $40, Streetscape on South Side of Maple Street: The streetscape in the Development Area is located on both the west and east sides of Roland Street and on Maple Street on the north side of the street. The remaining unfinished streetscape runs along the south side of Maple Street. This project will complete the present downtown area. Estimated cost for the DDA is $50, Salt Shed: Construct a salt shed to the existing maintenance building located within the Development Area. The DDA may demolish the former Missaukee County garage to complete this project. Estimated cost is $40,000. 9

14 8. Cottage Grove Street Bridge: Improvements to the bridge on Cottage Grove Street are needed and related storm drainage should be replaced. Estimated cost is $40, Business Development: A special line item in the annual DDA budget will be maintained each year to finance projects in the Development Area that the DDA Board determines are desirable to create jobs and economic viability of the Development Area. Estimated cost is $20,000 annual or $500,000 total. 10. New Water Well: The City is in need of a new potable water well and water tower to serve the City as well as the Development Area and the development area for the TIF A. The TIF A and/or the City may issue bonds to finance the construction of the new well. The DDA anticipates contributing a proportional share of the debt service for the bonds for its proportionate share of water from the well. Estimated cost is $5,000 annual or $100,000 total. 11. Maintenance of Infrastructure for Downtown Development, including Purcba e f Equipment and Repaving or Resurfacing of Streets and Alleys: The DDA shall purchase and maintain equipment to accomplish the Projects under this Plan. It is also anticipated that the existing streets and alleys within the Development Area will have to be repaved or resurfaced at least once during the extended term of this Plan. Estimated cost is $60, Administration: Administration includes contracts for services, salaries, annual audit, and other administrative expenses associated with the DDA, improving the Development Area and attracting new businesses. Estimated cost is $9,000 annually or $225,000 total. 10

15 Table 1 -Development Activities and Costs ESTIMATED PROJECT DEVELOPMENT ACTIVITY YEARLY TOTAL COMPLETION NO. COST($) COST($) YEAR 1 New city building 150, New professional offices 100, Signage and attractions 100, Advertising 4, , Storm drainage system 40, Streetscape on south side of Maple Street 50, Salt shed 40, Cottage Grove Street Bridge 40, Business development 20, , New water well 5, , Maintenance of infrastructure 60, Administration 9, , Project Cost estimates include engineering and legal. Total 1,505,000 Table 1 provides a summary of proposed development activities. Aside from ongoing activities, projects are expected to be completed as money becomes available. E. PROJECTS ACCOMPLISHED UNDER ORIGINAL PLAN AND AMENDED PLAN The following projects have been financed by the DDA in accordance with the Original Plan and the Amended Plan: Year Project Cost Land acquisition/install sidewalks/install waste receptacles/ administration $28, Demolish elevated water storage tank $10, Install sidewalks $12, Fire barn/department of Public Works Building $150, Demolish old fire bam and install sidewalks $6, Business development activities $6, Ashcraft Supermarket and parking lot $234, Ashcraft parking lot $153,

16 1995 Replace roof on City fire barn and City Council chambers $9, Install sidewalks $26, Install streetscape $260, Pay off loan on streetscape $125, Purchase and demolish old shoe shop $13, Purchase VanDrie lot for parking $10, Purchase and demolish Dutch Hutch building and pave $27, for parking 2003 Construct South Roland Street parking lot $32, Demolish old City Hall building $9, Loan to owner of grocery and party store $50, Loan has been paid in full 2004 Loan to owner of workout and beverage business $33, Loan has been paid in full 2004 Purchase six trash containers for Development Area $3, Purchase and demolish Smith Building $16, Purchase Great Lakes Medical Building $40, Purchase and demolish derelict house on Euclid Street $68, Install asphalt and curb for parking lot on North $18, Roland 2009 Loan to Main Street Laundromat $50, Payments current 2010 Install fire hydrant on E. Maple Street $3, Install roof on former medical building $5, Elm Street sewer repair $6,

17 Purchase new snow blower for downtown streets Roland Street repairs Purchase new security cameras Televise and clean sewers Sale of former medical building to new pharmacy Purchase railroad ties to edge flower beds along streets Install handicap curb for new medical office Install new storm sewer in alley behind new pharmacy Install new water line for Reedy's new restaurant Install new concrete planters for corner of Roland and Euclid Streets Resurface Roland Street and install new concrete sidewalk and curb Install new storm sewer Construct and pave addition to South Roland parking lot Landscaping, streetlights, sewer repairs, snowplowing, and purchase of equipment for the DDA Loan to new drive-through coffee shop Loan is current $6, $10, $5, $2, $1.00 $2, $2, $4, $1, $2, $31, $4, $24, $74, $10, F. CONSTRUCTION STAGES Construction of the activities proposed above are expected to be completed within the next 25 years. See Table 1 above for estimated completion dates for the proposed projects. The majority of the projects are to be financed from either bond issues or tax increment revenues. Projects will be completed as the need and finances become available and priority will be given to projects that result in a direct increase of employment within the Development Area. 13

18 G. OPEN SPACE Currently, there are several vacant lots that may remain open space for some time depending on when and if they are developed. No specific open space use is currently contemplated for the DDA except those incorporated into public areas within an:d along alleys, parking lots, rights-of-way, etc. H. DISPOSITIONS OF PROPERTY TO OR FROM THE CITY Both the DDA and the City own several parcels within the Development Area. If the DDA and the City determine that is necessary to accomplish any project under this Plan or the goals and objectives of the DDA, the DDA may sell, donate, exchange or lease property to or from the City. The terms of such sale, donation, exchange or lease shall be determined by the DDA and the City and be in accordance with local municipal policy and state law, as applicable. I. CHANGES IN ZONING, STREETS, AND UTILITIES 1. Zoning Changes: The City adopted a zoning ordinance in December It is not anticipated that any zoning changes will be made during the life of this Plan. However, if any changes are proposed they will be subject to the legal procedures as set forth by the City Council. 2. Changes in Streets, Street Levels, or Intersections: There are no anticipated changes in local streets, street levels, or intersections under this Plan, although some construction activities within local street rights-of-way may be necessary. 3. Changes in Utilities: Storm sewer improvements are anticipated in Section II.D.S above. In addition, utility extensions may be constructed within the Development Area as part of projects described in Section II.D. above. J. DEVELOPMENT FINANCING The estimated cost of the development proposed in this Plan as of the Restatement Date is approximately $1,505,000. A breakdown of this cost estimate is provided in Table 1 above. The costs include expenditures for activities associated with the accomplishment of each of the projects described in Section II.D. above, plus administrative expenses. Historically, the DDA financed projects under the Original Plan and Amended Plan through tax increment financing, leases of real property and interest realized on investments. The DDA expects to finance the projects identified in Section II.D. and Table 1 above from one or more of the following sources: 1. Contributions and/or donations to the DDA for the performance of its functions; 14

19 2. Revenues from any property, building or facility sold, owned, leased, licensed, or operated by the DDA or under its control, subject to the limitations imposed upon the DDA by trusts or other agreements; 3. Tax increment revenue to be received pursuant to the tax increment financing plan included in this Plan; 4. Proceeds of tax increment bonds; 5. Proceeds of revenue bonds; and/or 6. Money obtained from any other sources approved by the City or otherwise authorized by law for use by the DDA or the City to finance a development program. Other than as described in Section II.D above, no private sector investment commitments have been made, nor have estimates of private sector costs been included. The private sector improvements would be financed through conventional lending sources arranged by the private owners or developers. The proceeds to be received from tax increment revenues in the Development Area, plus the availability of funds from other authorized sources will be used to finance all activities and improvements to be carried out under this Plan. K. CONVEYANCE OF PROPERTY TO OR FROM THE DDA The DDA has no plans and no intention at this time to lease, sell, license or convey in any manner (including by easement, grant or option) land and other property, real or personal, or rights or interests therein, located within the Development Area. All of the projects described in Section II.D. above are being undertaken for the benefit of the community as a whole. The DDA may convey or otherwise dispose of, lease as lessor, or grant licenses, easements, and options with respect to land and other property, real or personal, or rights or interests therein, within the Development Area to private parties for redevelopment for appropriate retail, commercial or industrial uses which the DDA determines is reasonably necessary to achieve the purposes of Act 197. The conveyance of such property?hall be conducted in accordance with Section ILL. below. All public improvements accomplished by the DDA and any land, property, or equipment, etc., obtained to complete the plans set forth in this document may be conveyed to the City, at no cost, with,discretion of the DDA Board. At the time of dissolution of the DDA, all property then in its control would become the property of the City. It is possible that that the DDA may also convey property within its control to a private party, but no specific plans of this type are known at this time. The DDA may acquire by purchase or otherwise, on terms and conditions and in a manner the DDA considers proper, land and other property, real or personal, or rights or interests 15

20 therein (including licenses, easements, and options), which the DDA determines is reasonably necessary to achieve the purposes of Act 197. L. PROCEDURES FOR CONVEYANCE OF PROPERTY The terms under which land and other property, real or personal, or rights or interests therein, will be sold, leased, licensed or otherwise conveyed (including by easement, grant or option) from the DDA to private development interests shall be determined by the DDA. The procedures by which bids to sell, lease or otherwise convey (including by easement, grant or option) such property will be received and awarded will be in accordance with procedures and practices the DDA determines is reasonably necessary to achieve the purposes of Act 197. The DDA will reserve the right to select the development proposal and/or the developer whose proposal best meets the intent of this Plan and the best interests of the DDA and the City. M. ESTIMATE OF THE NUMBER OF PERSONS RESIDING IN THE DEVELOPMENT AREA AND DISPLACEMENT As of the Restatement Date, there are 26 residences and approximately 76 persons residing in the Development Area. There will be no displacement or relocation required as a result of this Plan. N. DISPLACEMENT AND RELOCATION PLAN Since no persons will be displaced from the Development Area by any of the proposed projects, it is not necessary to prepare a plan for establishing priority for displaced persons. In the event that future projects involve the relocation of displaced persons, the DDA, with the cooperation of the City, will prepare and adopt a formal relocation plan prior to the relocation. 0. DISPLACEMENT AND RELOCATION COSTS All costs associated with any personal or real property acquisition and relocation activities will be approved by the DDA and, if applicable, by the City Council. In the event that future projects involve the relocation of displaced persons, provisions for the costs of relocating persons displaced by the development and financial assistance and reimbursement of yxpenses, including litigation expenses and expenses incidental to the transfer of title, shall be made in accordance with the standards and provisions of the Federal the Uniform Relocation Assistance and Real Property Acquisition Act. 16

21 P. COMPLIANCE WITH ACT 227 OF THE PUBLIC ACTS OF 1972 This Plan meets the requirements of Act 227 of the Michigan Public Acts of 1972, as amended ("Act 227"), in that there are no displaced persons or businesses at present and future development will comply with Act 227 to the extent required. Q. INCREASE IN PROPERTY VALUE- NEED FORT AX INCREMENT FINANCING Projects which have been accomplished in the Original Plan and the Amended Plan would likely not have happened without the existence of tax increment financing.' All of the tax increment revenues paid to the DDA as the result of tax increment financing has resulted in growth from tax base. These public improvements have led to the construction of facilities for new businesses in the Development Area. This Plan, including all of its proposed improvements, is intended to create an atmosphere conducive to economic development in the Development Area. During the years of 1983 until 2014 new buildings, building improvements, and new personal property created tax increment revenues which in the year 2014 totaled approximately $53,000. All of the improvements listed in Section II.D. are similarly intended to create construction of commercial buildings, additions to existing buildings, and new personal property which will increase property values and add substantially to the existing tax increments in the Development Area. This benefits both the City and Missaukee County areas outside the Development Area. As examples, employees of Development Area industries and businesses live in the City or Missaukee County outside of the Development Area and pay taxes to the City and Missaukee County. Also, businesses in the Development Area purchase materials and services from outside the Development Area, but within the City and Missaukee County. These employment opportunities and purchases would not happen without DDA financing. The attached Appendix B shows the growth in taxable value of the Development Area. In the base year of 1984, the State Equalized Value (SEV) of the real properties in the Development Area was $692,100. This increased to $3,430,076 in The personal property value within the Development Area in 1984 was $59,071. This increased to $100,400 in These tax values and the resultant tax increment revenues can be attributed to projects in the Original Plan and the Amended Plan. 17

22 SECTION Ill TAX INCREMENT FINANCING PLAN A. DEVELOPMENT OF CAPTURED ASSESSED VALUE The primary objective of a downtown development authority is to create economic expansion and to provide the necessary public improvements with which to support private owners with a favorable climate for development. One of the constraints is the unavailability of the required amount of money for public improvements. It has been determined that tax increment financing provides an appropriate source of funds. Tax increment financing is considered an equitable method of developing the projects identified in this Plan and to provide the DDA with important financial leverage. A significant portion of this Plan will consist of cooperative joint funding and the use of tax increment financing. The City's commitment to the DDA is an important and necessary ingredient upon which to accomplish this Plan. The success of this Plan will serve to fulfill the objectives of the City. New commercial tenants will be encouraged to locate in the Development Area using the improvements detailed in this Plan. Bonds issued as the result of new development create a self-fulfilling situation in that, the public improvements are made possible through tax increment bonds issued as the result of the private investment. In this way, revenue is generated from captured state equalized value increases that otherwise would not have occurred. B. THE TAX INCREMENT PROCEDURE The tax increment financing procedure outlined in Act 197 requires the adoption by the City of a tax increment finance plan. Following adoption of the ordinance approving the tax increment finance plan, the City and Missaukee County treasurers are required by law to transmit to the DDA that portion of the tax levy paid each year on the captured assessed value of all real and personal property included in the tax increment finance plan of this Plan. This Plan may be modified if the modification is approved by the City Council following the same notice and public hearing procedures as were required for adoption of the Original Plan. At the time a tax increment finance plan under Act 197 is adopted, the "initial assessed value" is determined. The initial assessed value means the assessed value, as equalized, of all the taxable property within the boundaries of the development area at the time the ordinance establishing the tax increment financing plan is approved, as shown by the most recent assessment roll for which equalization has been completed at the time the ordinance is adopted. Property exempt from taxation at the time of the determination of the initial assessed value shall be included as zero. Property for which a specific local tax is paid in lieu of property tax shall not be considered exempt from taxation. The initial assessed value of property for which a specific local tax was paid in lieu of property is determined as provided below. "Specific local tax" means a tax levied under Act No. 198 of the Michigan Public Acts of 1974, as amended, Act No. 255 of the Michigan Public Acts of 1978, as amended, Act No. 189 of the Michigan Public Acts of 1953, as amended, and Act No. 385 of the Michigan Public Acts of 18

23 1984, as amended. The initial assessed value or current assessed value of property subject to a specific local tax shall be the quotient of the specific local tax paid divided by the ad valorem millage rate. However, after 1993, the state tax commission shall prescribe the method for calculating the initial assessed value and current assessed value of property for which a specific local tax was paid in lieu of a property tax. Appendix B to this Plan includes the initial assessed values of all real and personal property in the Development Area determined as of December 31, 1984, the date of the most recent assessment roll at the time the ordinance approving the Original Plan was adopted. C. ESTIMATES OF CAPTURED ASSESSED VALUES AND TAX INCREMENT REVENUES "Captured assessed value" means the amount in any one year by which the current assessed value of the development area, including the assessed value of property for which specific local taxes are paid in lieu of property taxes, exceeds the initial assessed value. The State Tax Commission shall prescribe the method for calculating the captured assessed value. "Tax Increment Revenues" means the amount of ad valorem property taxes and specific local taxes attributable to the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the development area, except that for taxes levied after 1993, tax increment revenues cannot be collected from the levies of the State of Michigan under the State Education Tax Act, Act No. 331 of the Michigan Public Acts of 1933, being Sections to of the Michigan Compiled Laws, or the tax levies of local or intermediate school districts, except for the purpose of paying certain "eligible advances," "eligible obligations," and "other protected obligations" as defined in Act 197. The Development Area is located within the taxing jurisdictions of the City and Missaukee County, and therefore, the DDA captures the ad valorem property taxes and specific local taxes attributable to the City's and Missaukee County's levies upon the captured assessed value of real and personal property in the Development Area. The DDA does not have any "eligible advances," "eligible obligations," or "other protected obligations" as defined in Act 197, and therefore, the DDA does not capture any levies of the State of Michigan or the local or intermediate school districts. The City and Missaukee County treasurers shall transmit the tax increment revenues to the DDA. Tax increment revenues used to pay bonds issued by the City under Section 16(1) of Act 197 shall be considered to be used by the tax increment financing plan rather than shared with the City. The DDA shall expend the tax increments received for the development programs only in accordance with this Plan. Tax increment revenues in excess of the estimated tax increment revenues or in excess of the actual cost of the Plan to be paid by the tax increment revenues may be retained by the DDA only for purposes that, by resolution of the DDA Board, are determined to further the development program in accordance with the this Plan. The excess revenue not so used shall revert proportionately to the respective taxing jurisdictions. Tax increment revenues 19

24 shall not be used to circumvent existing property tax laws or a local charter which provides a maximum authorized rate for the levy of property taxes. A schedule of the estimated tax increment revenues to be realized from increases in real and personal property values and from increases in Act 198 assisted industrial facilities exemption property values for the period from 2015 through 2041 are set forth in the attached Appendix B. The projections set forth in attached Appendix B assume a growth rate of 1% per year for the years 2026 through This estimated growth rate is based on inflationary increases, various market factors, changes in the use of property resulting in reassessment, or other factors. It does not take into consideration new construction. It is estimated that the DDA will capture approximately $1,500,000 in tax increment revenue over the remaining duration of this Plan. The City may terminate this Plan if it finds that the purposes for which it was established are accomplished. However, this Plan may not be terminated until the principal of and interest on any bonds issued under Act 197 have been paid or funds sufficient to make that payment have been segregated and placed in an irrevocable trust for the benefit of the holders of the bonds. D. USE OF TAX INCREMENT REVENUE The tax increment revenue paid to the DDA by the City and Missaukee County treasurers is to be disbursed by the DDA from time to time in such manner as the DDA may deem necessary and appropriate in order to carry out the purposes of this Plan, including but not limited to the following: 1. The principal, interest and reserve payments required for any bonded indebtedness to be incurred in its behalf for purposes provided in this Plan. 2. Cash payments for initiating and completing any improvements or activity called for in this Plan, including but not limited to lease payments. 3. Any annual operating deficits that the DDA may incur from acquired and/or leased property in the Development Area. 4. Interest payments on any sums that the DDA should borrow before or during the construction of any improvement or activity to be accomplished by.this Plan. 5. Payments required to establish and maintain a capital replacement reserve. 6. Payments required to establish and maintain a capital expenditure reserve. 7. Payments required to establish and maintain any required sinking fund. 8. Payments to pay the costs of any additional improvements to the Development Area that are determined necessary by the DDA and approved by the City. 20

25 9. Any administrative expenditure required to meet the cost of operation of the DDA and to repay any cash advances provided by the City. This may include quarterly payments to the City of support overhead expenses. 10. Payments to the City for public services, such as police, fire and snow removal. As the Development Area develops, the demand for such public services will increase. Since the City will not receive additional property taxes to fund such increased services, the failure to adequately provide such services may discourage development of the Development Area. Accordingly, the DDA may elect to allocate tax increment revenue to the City to ensure that such services are provided, subject to any limitations contained in Act 197. The DDA may modify the priority of projects and payments at any time if, within its discretion, such modification is necessary to facilitate this Plan and is permitted under the terms of any outstanding indebtedness. E. BONDED INDEBTEDNESS TO BE INCURRED Revenues to support the costs of this Plan shall be derived from any of the following sources, or a combination of these sources: 1. The issuance of one or more series of revenue bonds which may be supported by a limited tax pledge if authorized by resolution of the City Council or, if authorized by the voters of the City, the unlimited tax, full faith and credit of the City; 2. Tax increment bonds which are secured by tax increment revenue to be received from property within the Development Area and which may be secured by a limited tax pledge of the City if authorized by resolution of the City Council or, if authorized by the voters of the City, the unlimited tax, full faith and credit of the City; 3. Funds borrowed from the City at rates and terms to be agreed upon or as set forth elsewhere in this Plan; and/or 4. Cash. Tax collections expected to be generated by the captured assessed value of property within the Development Area are expected to be adequate to provide for payment of principal and interest on bonds or funds borrowed from the City. The amounts of bonded indebtedness or indebtedness to be incurred by the DDA and/or the City for all bond issues or loans, including payments of capitalized interest, principal and required reserve, shall be determined by the City Council, upon the recommendations of the DDA. 21

26 At the time of adoption of this Plan, the DDA estimates that the additional maximum aggregate amount of bonded indebtedness which may be incurred during the term of this Plan is approximately $1,500,000, including project costs and issuance expenses. F. 2 MILL LEVY FOR DDA The DDA, with the approval of the City, may levy an ad valorem tax on the real and tangible personal property not exempt by law and as finally equalized in the Development Area. The tax shall not be more than 2 mills and shall be collected by the City. The City shall collect the tax at the same time and in the same manner as it collects its other ad valorem taxes. The tax shall be paid to the Treasurer of the DDA and credited to the general fund for purposes of the DDA. G OPERATING AND PLANNING EXPENDITURES All operating and planning expenditures of the DDA and the City, as well as all advances extended by or indebtedness incurred by the City or other parties, are expected to be repaid from tax increment revenues. The costs of this Plan are also anticipated to be paid from tax increment revenues as received. H TAXING JURISDICTION AGREEMENTS Since this Plan may provide for the use of part or all of the captured assessed value, the DDA may enter into agreements with the taxing jurisdictions to share a portion of the tax increment revenues. As of the Restatement Date, the DDA expects to use all of the tax increment revenues for the purpose of undertaking projects included in this Plan and paying the principal and interest on any future bond issues and does not anticipate entering into agreements with the taxing jurisdictions to share a portion of the tax increment revenues. I. JUSTIFICATION FORT AX INCREMENT FINANCING Since only the growth in tax base (the captured assessed value) in the Development Area is used to finance the Plan, the City and Missaukee County continue to receive their full tax levy on the initial assessed value of property in the Development Area. In addition, any taxes generated by the captured assessed value beyond the amount required by the Plan are returned to the taxing jurisdictions each year. The justification of the tax increment financing procedure is based on the expectation that all or a portion of the captured assessed value that is created, following implementation of a development plan, would not have occurred without the stimulation of the public investment involved in the plan implementation; and, therefore, the short-term investment made by the taxing units in foregoing part of the growth in tax revenues is repaid by the long-term benefit of substantially greater taxes realized from a significantly stronger tax base. 22

27 J. PREPARATION OFT AX INCREMENT WORKSHEETS Each year, within 45 days of the date that the State of Michigan finally equalizes SEV (the fourth Monday in May), the City or the DDA shall prepare the "Tax Increment Worksheet." The Tax Increment Worksheet shall be prepared in a manner similar to Appendix C. It shall include a complete listing of all properties within the Development Area (real, personal, and facilities exemptions). The Tax Increment Worksheet shall include the following required information: a. Identification oftype of property (real, personal, etc.). b. Property code and/or tax identification number. c. Initial assessed SEV for each property and totals for all property within the Development Area. d. Current year taxable values. e. Total millage being levied by all taxing jurisdictions. f. Total captured assessed value for all property in the Development Area. g. Tax revenue from the captured assessed value. h. Amount of current taxes due the DDA based on total captured assessed values. 1. Data deemed necessary for the accounting and reporting ofdda taxes. The City Treasurer shall provide information on the taxes paid on the abated property and the ad valorem millage rate so that the captured assessed value can be determined. The equalized value of all abated property will be determined by the full value with revenue calculated as a one-half the ad valorem millage rate. The calculation for industrial and commercial facilities exemption certificates shall be as provided by law. K. PREPARATION OFT AXING JURISDICTION REPORTS A summary of the Tax Increment Worksheet called the "Taxing Jurisdiction Report" shall be prepared for the appropriate taxing jurisdictions. It shall list each taxing jurisdiction in which the Development Area is located, the initial assessed value of all real and personal property in the Development Area, the current millage rates of each taxing jurisdiction on both real and personal property, the special tax rolls prepared for property for which facilities exemption certificates have been awarded, and the amount of tax revenue derived by each taxing jurisdiction from ad valorem taxes on the property in the Development Area. 23

28 The City Treasurer shall transmit copies of the Taxing Jurisdiction Report, together with a notice that the report has been prepared in accordance with this Plan pursuant to Act 197 to the Missaukee County Treasurer and the DDA. L. ESTABLISHMENT OF PROJECT FUND The Treasurer of the DDA shall establish a depository that shall be kept in a bank or banks or other financial institution or institutions, approved by the DDA Board, to be designated the "Downtown Development Authority Fund." All monies received by the DDA pursuant to the Development Plan shall be deposited in the fund. All monies in that fund and earnings thereon shall be used only in accordance with the Development Plan, the DDA's Bylaws, and related municipal ordinances and resolutions. M. PAYMENT OFT AX INCREMENTS TO DDA The tax collecting treasurers will distribute all current tax collections to the tax assessing units until they are paid in full for their levy based on the initial assessed values. Distribution of tax collections from captured assessed value commences to the Treasurer of the DDA on the same date or dates and in the same way that taxes are remitted to each of the taxing units. Since each dollar collected from the Development Area contains the proceeds of the tax on the initial and captured assessed values, the amounts should, therefore, be distributed pro rata (captured assessed value divided by the current assessed value; initial assessed value divided by current assessed value) for each dollar collected. Provisions of Section 43(3) of the Property Tax Act (MCL (3)) applies to the distribution of all taxes, including taxes collected within the Development Area. This section specifies that tax collections on hand on the 1st and 15th of each month must be distributed within 10 business days of the 1st and 15th. N. MICHIGAN PROPERTY TAX REFORM On March 28 and April 1, 2014, Governor Snyder signed into law a package of bills amending and replacing legislation enacted in 2012 to reform personal property tax in Michigan. Commercial and industrial personal property of each owner with a combined true cash value in a local taxing unit of less than $80,000 is exempt from ad valorem taxes beginning in 2014 (the "small taxpayer exemption"). All eligible manufacturing personal property ("EMPP") purchased or put into service beginning in 2013 and used more than 5 of the time in industrial processing or direct integrated support becomes exempt beginning in In addition, previously existing EMPP will be exempt starting in 2016 if it was subject to taxation for 10 years or more, and eventually, by 2023, all EMPP will be exempt as it is phased in. The legislation extends certain personal property tax exemptions and tax abatements for technology parks, industrial facilities, and enterprise zones that were to expire after 2012, until the newly enacted personal property tax exemptions take effect. Pursuant to voter approval in August 2014, the 2014 legislation also includes a formula to reimburse local governments, including tax increment finance authorities like the DDA, for lost 24

29 personal property tax revenue. To provide the reimbursement, the legislation is reducing the state use tax and creating a Local Community Stabilization Authority which will levy a local use tax component and distribute that revenue to qualifying local units. The legislation contemplates that tax increment authorities, like the DDA, will be fully reimbursed (a) for any losses of tax increment revenues arising from the small taxpayer exemption in the fiscal years and , and (b) for any losses of tax increment revenues arising from the EMMP exemptions beginning in based on taxes levied on personal property within the Development Area in the fiscal year. However, the final impact of this legislation cannot be determined at this time nor can the ultimate nature, extent, and impact of future amendments to Michigan's property tax laws on the DDA's finances be predicted. 0. DURATION OF THE PLAN This Plan further extends the term of the Amended Plan for an additional twenty-five (25) years and five (5) months, expiring May 31, 2041 (following the collection of the December 1, 2040 tax levy), in order to provide sufficient revenues to accomplish the objectives of the Development Plan, including the repayment of bonds or other indebtedness necessary. The term of the Plan may be modified from time to time by the City Council of the City in accordance with the provisions of Act 197. P. IMPACT ON ASSESSED VALUES AND TAX INCREMENT REVENUES OF OTHER TAXING JURISDICTIONS The overall impact of the Development Plan is expected to generate increased economic activity in the Development Area, the City, and Missaukee County. This increase in activity will, in turn, generate additional amounts of tax revenue to local taxing jurisdictions through increases in assessed valuations of real and personal property and from increases in personal income due to new employment within the Development Area, the City, other neighboring communities and Missaukee County. The projections set forth in attached Appendix B assume a growth rate of 1% per year for the years 2026 through This estimated growth rate is based on inflationary increases, various market factors, changes in the use of property resulting in reassessment, or other factors. It does not take into consideration new construction. For purposes of determining the estimated impact of this Tax Increment Financing Plan upon those taxing jurisdictions within the Development Area, estimates of captured assessed value were used along with 2015 tax millage allocations to determine tax increment revenue amounts that would be shifted from these jurisdictions to the DDA to finance the projects set forth in this Plan. 25

30 Q. REPORTS 1. Annual DDA Report: The DDA shall submit annually to the City and the State Tax Commission a financial report on the status of this Plan. The report shall be published in a paper of general circulation in the City and shall include the following: a. The amount and source of revenue in the tax increment financing account; b. The amount in any bond reserve account; c. The amount and purpose of expenditures from the account; d. The amount of principal and interest on any outstanding bonded indebtedness ofthe DDA; e. The initial assessed value of the Development Area; f. The captured assessed value retained by the DDA; g. The tax increment revenues received; h. The number of jobs created as a result of the implementation the Plan; and 1. Any additional information the City or the State Tax Commission considers necessary. 2. Personal Property Reports: As more fully described in Section III.N. above, there is legislation contemplating that that tax increment authorities, like the DDA, will be fully reimbursed for losses of tax increment revenues arising from the small taxpayer exemption in the fiscal years and and any losses of tax increment revenues arising from the EMMP exemptions beginning in the fiscal year The Local Community Stabilization Authority Act, Act 86 of the Michigan Public Acts of 2014, as amended ("Act 86"), being MCL Sections , et.al. sets forth the procedure for tax increment authorities, like the DDA, to be reimbursed. By June 15, 2015, Act 86 requires the DDA to report to the Michigan Department of Treasury the DDA's "tax increment small taxpayer loss" (as defined in Act 86) for the current calendar year. Beginning no later than June 15,2016 and each June 15 thereafter,.the DDA shall calculate the amounts required by Section 16a(2) of Act 86, being MCL Section a and report the same to the Michigan Department of Treasury _ 6 26

31 MAPA DEVELOPMENT AREA M-1

32 MAPA DEVELOPMENT AREA BOUNDARIES J I 1 I II=-=--= 1~:---'---l- -..! L rn...L...JI W.! L_,- DDA EKXI'IJARY A,..., r-. I I _j jif!i 8 [W ~ i w ~~ -ll J,..., -....,_.,...,

33 MAPB CITY OF MCBAIN ZONING MAP M-2

34 1-1 1-t R 2 MAPB ZONING MAP FOR DDA i! i i : I : I i : I A-1 1M... R-1 I THE ZONING MAP OF THE CITY OF McBAIN, MISSAUKEE COUNTY, MICHIGAN MIITT,_ T ~.,,... (J «T V 01 CH H zgep e-n I.Oif_.,... IIIIIL...n' C'T - L..-..crr _,. C'T -.-n.::r c9 -- llil!:l r M,.,, 1h,fir, e s - -u 1ii.I iijwu......,_...~, c

35 MAPC PROPOSED IMPROVEMENTS UNDER PLAN M-3

36 MAP C PROPOSED PROJECTS - An r- ~..,... L-...J.-,J' = L.. I I _j The numbers on this Map C match the numbers for the proposed projects listed in Section II.D of the Plan. Please refer to Section II.D for a description of each proposed project. The locations identified on this Map C are approximate locations as of the Restatement Date. Locations may change during the term of the Plan. Certain projects are not shown on this Map C because certain projects have various locations that cannot be easily identified on this Map C (such as Project Nos. 5, 11) and certain projects are not limited to a specific location (such as Project Nos. 4, 9, 12). j j

37 APPENDIX A LOCATION, CHARACTER AND EXTENT OF LAND USES A-1

38 MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY Existing Land Uses PROPERTY NUMBER CLASS DESCRIPTION Residential Residential Commercial Real Estate Original Parcel- Combined or Split Original Parcel- Combined or Split Commercial Real Estate Original Parcel- Combined or Split Commercial Real Estate Original Parcel- Combined or Split Commercial Real Estate Residential Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Vacant Commercial Property Commercial Real Estate Commercial Real Estate Commercial Real Estate Original Parcel- Combined or Split Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Original Parcel- Combined or Split Commercial Real Estate Commercial Real Estate Original Parcel- Combined or Split Original Parcel- Combined or Split Original Parcel- Combined or Split Residential Residential Residential Residential Residential Residential Residential Residential Residential

39 Residential Residential Residential Residential Residential Residential Residential Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Commercial Real Estate Residential Residential Commercial Real Estate Residential Residential Residential Residential Residential Original Parcel- Combined or Split Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Commercial Personal Property Doc No

40 APPENDIXB SCHEDULE OF ESTIMATE TAX INCREMENT REVENUES AND PROJECTED IMPACT ON TAXING JURISDICTIONS A-2

41 MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY SCHEDULE OF ESTIMATED TAX INCREMENT REVENUES AND PROJECTED IMPACT ON TAXING JURISDICTIONS TAXING UNIT: CITY OF MCBAIN Fiscal Year Ending June Current Initial Captured City Taxable Assessed Assessed Tax Value [1J Value Value Rate [2] $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751 ' $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751 ' $2,779, $3,565, $751 ' $2,814, $3,601, $751 ' $2,850, $3,637, $751 ' $2,886, $3,673, $751 ' $2,922, $3,710, $751, $2,959, $3,747, $751, $2,996, $3,785, $751 ' $3,033, $3,822, $751 ' $3,071, $3,861, $751 ' $3,110, $3,899, $751, $3,148, $3,938, $751 ' $3,187, $3,978, $751 ' $3,227, $4,018, $751 ' $3,266, $4,058, $751 ' $3,307, $4,098, $751 ' $3,347, $4,139, $751, $3,388, TOTAL City Tax Increment Revenues [3] $34, $34, $34, $34, $34, $34, $34, $34, $34, $34, $34, $35, $35, $35, $36, $36, $37, $37, $38, $38, $39, $39, $40, $40, $41, $41, $42, $997, [1] [2] [3] Current taxable value is based on actual taxable values for 2015, no change in 2016 through 2025, and an assumed growth rate of 1% a year thereafter. This amount currently includes 1FT property at its full taxable value and, therefore, overstates the capture. The Plan ends on May 31, 2041, after collection of the December 2040 tax levy. The City is expected to levy mills ( ) in The tax levy is assumed to stay the same after Actual tax increment revenues may vary due to changes in taxable values, tax abatements under Act 198, tax levies and the addition or removal of personal property. This schedule does not take into account changes in the law related to taxation of personal property. # (City)

42 MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY SCHEDULE OF ESTIMATED TAX INCREMENT REVENUES AND PROJECTED IMPACT ON TAXING JURISDICTIONS TAXING UNIT: MISSAUKEE COUNTY Fiscal Year Ending June Current Initial Captured County Taxable Assessed Assessed Tax Value [1] Value Value Rate [2] $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,530, $751, $2,779, $3,565, $751, $2,814, $3,601, $751, $2,850, $3,637, $751, $2,886, $3,673, $751, $2,922, $3,710, $751, $2,959, $3,747, $751, $2,996, $3,785, $751 ' $3,033, $3,822, $751 ' $3,071, $3,861, $751, $3,110, $3,899, $751, $3,148, $3,938, $751, $3,187, $3,978, $751, $3,227, $4,018, $751 ' $3,266, $4,058, $751, $3,307, $4,098, $751, $3,347, $4,139, $751, $3,388, TOTAL County Tax Increment Revenues [3] $19, $19, $19, $19, $19, $19, $19, $19, $19, $19, $19, $20, $20, $20, $20, $21 ' $21, $21, $21, $22, $22, $22, $23, $23, $23, $23, $24, $572, [1] [2] [3] Current taxable value is based on actual taxable values for 2015, no change in 2016 through 2025, and an assumed growth rate of 1% a year thereafter. This amount currently includes 1FT property at its full taxable value and, therefore, overstates the capture. The Plan ends on May 31, 2041, after collection of the December 2040 tax levy. The County is expected to levy mills ( ) in 2015, consisting of County allocated mills, 0.5 mills for ambulance and 911 services, 1.25 mills for public safety/sherrif and 0.5 mills for senior services. The tax levy is assumed to stay the same after Actual tax increment revenues may vary due changes in taxable values, to tax abatements under Act 198, tax levies and the addition or removal of personal property. This schedule does not take into account changes in the law related to taxation of personal property. # (County)

43 MCBAIN DOWNTOWN DEVELOPMENT AUTHORITY SCHEDULE OF ESTIMATED TAX INCREMENT REVENUES AND PROJECTED IMPACT ON TAXING JURISDICTIONS [1] Fiscal Year Ending June 30 TOTAL City Tax County Tax Total Tax Increment Increment Increment Revenues [2] Revenues [3] Revenues [4] $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $34, $19, $54, $35, $20, $55, $35, $20, $55, $35, $20, $56, $36, $20, $57, $36, $21 ' $58, $37, $21, $58, $37, $21, $59, $38, $21, $60, $38, $22, $60, $39, $22, $61, $39, $22, $62, $40, $23, $63, $40, $23, $64, $41, $23, $64, $41, $23, $65, $42, $24, $66, $997, $572, $1,569, Cumulative Total $54, $108, $163, $217, $272, $326, $381, $435, $490, $544, $599, $654, $710, $766, $824, $882, $940, $1,000, $1,060, $1 '121, $1,183, $1,245, $1,309, $1,373, $1,437, $1,503, $1,569, [1] Current taxable value is based on actual taxable values for 2015, no change in 2016 through 2025, and an assumed growth rate of 1% a year thereafter. This amount currently includes 1FT property at its full taxable value and, therefore, overstates the capture. The Plan ends on M ay 31, 2041, after collection of the December 2040 tax levy. [2] The City is expected to levy mills ( ) in The tax levy is assumed to stay the same after [3] The County is expected to levy mills ( ) in 2015, consisting of County allocated mills, 0.5 mills for ambulance and 911 services, 1.25 mills for public safety/sherrif and 0.5 milss for senior services. The tax levy is assumed to stay the same after [4] Actual tax increment revenues may vary due to changes in taxable values, tax abatements under Act 198, tax levies and the addition or removal of personal property. This schedule does not take into account changes in the law related to taxation of personal property. # (Combined)

44 APPENDIXC TAXINCREMENTVVORKSHEET A-3

45 CITY OFMCBAIN DOWNTOWN DEVELOPMENT AUTHORITY TAX ROLL 2015 TAX YEAR WINTER PROPERTY 1964 CLASS I PRE COUNTY EM ERG SHERIFF NUMBER EQUALIZED TAXABLE CAPT % 0, VALUE VALUE VALUE DSH OD ~ $26,411 $ 14,911 10~ '11 $7,40 $1! $6, $30,036 $23, $11.72 $ $ $37,165 $24,965 $12 49 $ D $ $0 ($15.100) ($7 55) ($16 68) D $8, $0 ($8.100) ($4,05) ($10.13) $9, $183,116 $174,116 $87.06 $217, $9, $0 ($9,900) ($4.95) ($12.38) $ $37,046 $14,446 $7.22 $ $4, $0 ($4,100) ($2 05) ($5.13) 0! SO $29, $56,412 $28,712 $13.36 $ $11, $24,258 $12, $8.18 $ ' $22, $44,926 $22,626 $11 31 $ $16, $52,120 $ $17 91 $ SO $11, $21,234 $10,234 $5.12 $ $13, $81,889 $68,589 $34 29 $ ;!2-00 S15, $79,044 $63,944 $3L97 $ ' $5, $167,944 $182,844 $81.32 $ $7, $33,300 $25,500 $12,75 $31.88 D52 )0D $2, $4,070 $1,870 $0.64 S IOD $17, $33,619 $18,719 $8,36 S S7, $50,288 $42,788 $21.39 $ D $0 90 $0 $ OD $10, $12,801 $2,101 $1.05 $ $16, $20,081 $4,081 $2,04 $ S18, S87,172 $69,172 $34.59 $ $ $29,423 $13,223 $6,81 $ $2, $4.070 $1,670 $0 84 $2, $0 90 $0 $0 so.oo Ob $61, $149,246 $87,446 so.oo $43 72 $ , $24, $105,275 $81,275 $40.64 $ $11, $0 ($11,000) ($5.50) ($13.75) ).5() $3, so ($3.300) ($1.65) ($4.13) $0 90 $0 $0 $0, $8, $ S17, $8.78 $ $ S27,520 $13,020 $6.51 $ ~ $6, $13,935 $7, $3.92 $ $10, $18,675 $8,&75 $4.34 $10, $14, $26,322 $12, $6.01 $ $16, $31,844 $15, $7.57 $ D $1, $2,548 $1, $0.62 $ $13, $26,240 $12, $6 22 $ $15, $38,200 $22, $11.35 $ ! $17, $33,761 $15, $7 98 $ $ $0 ($400) ($0.20) ($0.50) $7, $14,712 $6, $3.46 $ S7, $16,263 $11, S5 83 $ $2, $6,193 $3,693 $1.95 $ $ $148 ($652) (S0,33) ($0.82) 052-'IJD $5, $5,100 ($400) ($0 20) ($0.50) <) $0 201 $ $162,983 $81 ;g $ D so 201 $5,743 S5,743 so 00 $2.87 $ '12-GO $0 201 $1,073,912 $1,073,912 $ S G52-13D-C $0 201 $256,113 $256,113 $12808 $ \ ~ Oll $26, $52,295 $25, $12 90 $ $8, $19,169 $11,069 $5 53 $13.8< $3, $5,750 $2,750 so 00 $1 38 $ $33, $ $12,121 $8 08 $ $7, $31,700 $24,800 $12.30 $ D S17, $ $14, $710 $ $15, $30,974 $15,774 1DO'li. $7 89 $ $9, $18,078 $8, \1 $4 24 $ $6, $14,657 $7, $3.93 $ $0 90 $0 $ $0 251 S $20, $10 20 $ $2, $0 ($:1. 100) 10 ($1 05) ($2.83) l-OO $0 251 $0 $ $10, $0 ($10,300) 10 ($515) ($12.88) $0 251 $0 $0 10 $0, D00-06< 00 $0 251 $0 $0 1QQ 0 k $0,00 so $0 251 $0 $0 10 $0, DOD-007 DO $0 251 $0 $0 10 $0,00 $0, DD-06D-OO $0 251 $0 $0 10 $0, $0 251 $0 $ GO $0 251 $0 so $0 251 so $0 10 $0, , so 251 $0 $ $0 251 $0 $0 10 $0, l<l $0 251 $0 $0 10 $0, ISl-00 $0 251 $70,400 $70, $35.20 $ $0 251 $0 $0 100' JD-00 $0 251 $10,000 $10, ss.oo $ $0 251 $0 $ $0 251 $0 $0 100'1' 052-BOD- 376-CO $0 251 so $0 100'1' $0,00 so D-OD $0 251 $20,000 $20, $10-00 $ so 251 $0 $0 10 $0, $48, $0 (i4b.6'11) IQO'I6 so.oo ($23.~) ($58.34) EQUALIZED TAXABLE CAPT VAL COUNTY EMERG SHERIFF VALUE VALUE 0 ~ TOTAL REAL: $69<,zoo 1 1 s3.43o,o76 1 $2,737,976 I $0,00 $1, $3, INCREMENT) TOTAL PERSON $56,971 1 s1oo.4oo 1 $41,329 so I szz 1 $54 1 INCREMENT) COM AGE 0,7500 s 1 1.1e $17.58 $18.74 ($11.33) ($8 08) $ ($7.43) $10 83 ($3 08) $20 03 $9.27 $16 97 $26 87 $7 66 $51.44 $47.96 S $19.13 $1 25 $12.54 $32 09 $1.58 S3.08 S51.88 $9.92 S1.25 so 00 S65.58 $60.96 ($8 25) ($2A8) $13.17 $9,77 $5.88 $8,51 $9,02 S11.38 $0.94 $9.33 $17.03 $11.97 ($0.30) $518 S8 45 $2 92 ($0.49) ($0.30) $122,24 $4.31 $805,43 S $19.35 $8.30 S2.08 $9.09 $18.45 $10.65 $11 83 $6 36 S5.69 $15.30 ($1 58) ($7.73) so.oo so 00 SO,OO $000 $52.80 so.oo $7.50 $15.00 ( $3 ~. 00) COM. AGE $2, $33 1 CITY OF MCBAIN DDA TAX SPREAD NO STATE ED SCH. OPER LIBRARY 0, $0,00 $342 $5.36 $5.73 $000 ($3.46) ($1 86) $39,94 ($2 27) $0,00 $3,31 ($0 94) $6.13 $2.83 $0,00 $519 $8 22 $2 35 $15.73 $14.67 $37 31 $5 65 $0 38 $3 64 $9.82 so 00 $0,00 $0 48 $0,00 so.oo $0.94 so.oo $15.87 so.oo $3 03 $0,00 $0.38 so.oo $20 06 $18.64 ($2 52) ($0.76) $0,00 $4.03 $2.99 $1.80 $1.99 $2.76 $3.47 $0.29 $2 85 $5 21 so 00 $3 66 ($0 09) so 00 $1 59 so,oo so.oo $2 58 so.oo $0.89 ($0.15) ($0 09) so 00 $37 39 $1 32 so.oo $ $58.75 $5 92 $0. 00 so 00 $2 54 $0 63 so 00 $2.76 $5 64 $0,00 $3 26 so.oo $3 62 $0,00 $1.94 so.oo $1,80 S4.68 $0,00 ($0 48) so.oo ($2 36) so.oo $0,00 $0,00 $0,00 so.oo $0,00 $0,00 $0,00 so 00 $16.15 $2.29 $4.59 ($ 10,71 ) STATE ED SCH. OPER LIBRARY < $ so I so I s1o 1 SCH DEBT lsd CITY TAX ADM FEE TOTAL ,01 TAX $165.07,2:18 3'/ $ $ $311,11 so.oo $ ($ ) ($229.23) ($100.88) ($ ) $2, $2, ($ ) $0,00 ($1$0.29) $ $219,31 ($51.05) ($62.24) $ $ $ $187,61 $281,73 $ $0,00 $ $543,79 $ $ $854 OS $1, $ $ $2, $2, $ $ $20.79 S25 35 $ $0,00 $ $ $ $0,00 $0,00 $2616 $31.90 $50 8.2, $61.95 $0,00 $ $1, $ $ $0,00 $20 79 $25,35 $0,00 $0. 00 $1, $1.327,53 so 00 $1, $1, ($ ) ($1 66,&9) $0,00 so.oo ($41 09) ($50, 10) $0,00 $0,00 $218,61 $0,00 $ $ $ $0,00 $97 58 $ $ $ $ S $ so.oo $ S15 54 $18 95 $ $ $282,65 $ $ $ $0,00 ($4.9!) ($6.U1J $68,07 $ so.oo $140,24 S $48.47 $59 10 ($6,12) ($9 110) $0,00 ($4,98) ($6 07) $0,00 $2, $2, $0,00 $71.51 $87.19 NNIMIMIIJII $16, so 00 so.oo $3,18904 $ $0,00 $32119 $ $ S $0 DO $34-24 $41 75 S ' $ $306,31 $ $176,80 $ so 00 $196,41 $ S105,54 S $0,00 $97,83 $ $0,00 $25<.01 $ ($28.16) ($3 1.88) so 00 (S ) {SHi6.~7) $000 $000 $0,00 so 00 so.oo $000 so 00 $000 $ so.oo $1, so.oo so 00 S $ so.oo so 00 so.oo so.oo $0,00 $ $ so.oo $0,00 ($S81.1G) $0,00 ($7 08. $2) SCH DEBT lsd - CITY TAX ADM FEE TOTAL $0,00 $0 S42,193 so I SOl $541 $ I 'GRAND TOTAL $751,171 S3,530,476 S2,779,305 S1, $3, $2, $ ##II $42,192.91

46 CITY OFMCBAIN DOWNTOWN DEVELOPMENT AUTHORITY TAX ROLL 2015 TAX YEAR SUMMER - PROPERTY 1984 CLASS NUMBER EQUALIZED TAXABLE CAPT VALUE VALUE VALUE ~11, $26.~ 11 $14, ()0 $8, $30,038 S23, $12, $37,185 $24, $15, $0 ($15, 100) 052 I $8, $0 ($8,100) $9, $183,116 $174, $9, $0 ($9.900) $22, $37,046 $14, $4, $0 ($4,1 00) $29, $56,412 $26, S11, $24,258 $12, $22, $44,925 $22, $15, $52,120 $35, $11, $21,234 $10, $13, $81,889 $68, I $15, $79,044 $63, $5, $167,944 $162,644 0~ $7, $33,300 $25, $ $4,070 $1, $17, S33,819 $16, $7, $50,286 $42, ~ - 00 $0 90 $0 $ QO-Ol4-50 $10, $12,801 $2, $15, $20,081 $4, Oll-Oilll-00 $18, $87,172 $69, l 00-0:!8-60 $16, $29,423 $13, $2, $4,070 $1, $0 90 $0 $ $61, $149,245 $87, $24, $105,275 $81, $11, $0 ($11.000) S3, $0 ($3,300) $0 90 $0 $ $8, $26,157 $17, lO $14, $27,520 $13, SG-60 S6, $13,935 $7, $10, $18,675 $8, ()62-00 $14, $26,322 $12, S'l-00 $16, $31,844 $15, ~ -00 $1, $2,548 $1, S13, S26,240 $12, $15, S38,200 $22, $17, S33,761 $15, $ $0 (!ADO) $7, $14,712 $6, $7, $18,263 $11, $2, S6,193 $3, $ $148 ($652) $5, $5,100 ($ ~ 00) $0 201 $162,983 $162, $0 201 $5,743 $5, $0 201 $1,073,912 $1,073, $0 201 $256,113 $256, $26, $52,295 $25, $8, $19,169 $11, $ $3, $5,750 $2, ~ $ $33, $45,521 $12, I B-00 $7, $31,700 $24, A $17, $31,999 $14, () $15, $30,974 $15, Il OO $9, $18,076 $8, S,O O 15.()0 $6, $14,657 $7, ; $0 90 $0 $0 052' $0 251 $20,400 $20, ! ,2 $2, $0 ($2,100) 052-!! $0 251 $ S10, $0 ($10,300) $0 251 $0 $0 052-DG0-004-QO $0 251 $0 so $0 251 $0 $ $0 251 $0 $ $0 251 $0 $ $0 251 $0 $ $0 251 $0 $0 052-MD $0 251 $0 $ B-OO $0 251 $0 $0 052-!l $0 251 $0 $0 052-j) $0 251 $0 $0 0& $0 251 $70,400 $70, , $0 251 $0 $ $0 251 $10,000 $ $0 251 $0 $0 osz-eoo-375-oo $0 251 $0 $ o $0 251 $0 $ $0 251 $20,000 $20, $46, $0 ($46,671) 1987 TAXABLE TAXABLE EOUAL I~ED TAXABLE CAPT VAL VALUt: VJ-\LUt:. TOTAL f\i:al; $692, 1oo 1 1 S3,43o.o76 1 s2,737,975 I IN CREMENT! TOTAL PERSON/ $59,071 I s1oo.4oo 1 $41,329 INCREMENT! I PRE % '1\ 100" ~1 100\\ ~ ">' , ' '11< ~ooo.m 100"4 10 1o0'1t ' COUNTY $7U7 $ $122,44 ($74.00) ($39.69) $ (S48 51) $70 79 ($20 09) $ $60 56 $ $ $50.15 $ $ $ $ $818 $81.93 $ $0,00 $10 30 $20.00 $ $64.80 $818 $ $ ($53.91) ($16.17) $86.04 $63.80 $38.40 $42.51 $58.91 $74 21 $6.12 $60.96 $ $78 22 ($1.95) $33 B7 $55.19 $19.08 ($3 20) ($1 96) $798,70 S28 14 $5, $1,255,08 $ $54 24 $13.48 $59.40 $ $69.58 $77.30 $41.54 $38.50 $0,00 $99,97 ($10 29) ($50 48) $0,00 $0,00 so.oo $0,00 sooo $ $0,00 $49 01 $98.01 COUNTY 4.l:IUUb $13, $431 1 EMERG SHERIFF COM AGE $0,00 so 00 $000 $0,00 $0,00 $0,00 $0,00 so 00 $0,00 so 00 $0.00 $0,00 $0,00 $0,00 $0,00 so.oo $0,00 so 00 $0,00 $0,00 so.oo so 00 so 00 $0,00 so 00 so.oo $0,00 so 00 so.oo $0,00 so 00 so.oo so.oo $0,00 $000 so.oo $000 $0,00 $0,00 so.oo so.oo $0,00 so.oo $000 so.oo so 00 $0,00 so.oo so.oo $0,00 $0,00 sooo so.oo so.oo $0,00 $0,00 so 00 $0,00 EM ERG SHERIFF COM, AGE v uuuu u,uuuu u uuuu so l so I so I CITY OF MCBAIN DDA TAX SPREAD NO STATE EO SCH. OPER LIBRARY $0,00 $0,00 $0,00 $0,00 so.oo $0,00 $0,00 so.oo $0,00 $000 $0,00 so.oo $0,00 so 00 so 00 $0,00 so 00 $0,00 so.oo $0,00 $0,00 $000 so 00 $0,00 $0,00 $0,00 so.oo $000 $000 $0,00 so 00 so 00 $0,00 $0,00 $0,00 so 00 $0,00 so 00 so 00 $000 so.oo $0,00 so 00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 so 00 $000 $000 $000 so 00 so 00 so.oo $0,00 $0,00 so.oo $0,00 $0,00 $000 so.oo $0,00 $0,00 $0,00 so.oo $0,00 $0,00 so.oo STATE ED SCH. OPER LIBRARY u uuuu u uuvu u uuuu $0 l so I SO! SCH DEBT so 00 $000 so 00 so 00 $000 $0,00 $0,00 $0,00 $0,00 $0,00 #REF I #REF I $0,00 $0,00 so.oo so.oo so.oo $000 SCH DEBT uuuuv #REF I so I lsd CITY TAX ADM FEE TOTAL TAX $0,00 $73.07 $ $ $0,00 $000 ($74,00) ($39.G9) $0,00 $ so 00 ($48 51) $70 79 ($20 09) $ $000 $0,00 sooo $80.56 $ $0,00 $ $0,00 $50.15 $0,00 $ $0,00 $ $ $ $8 18 so 00 $81 93 so.oo $ $10 30 $0,00 $20 00 $0,00 $ $0,00 $64 eo $0,00 $8.18 so.oo $ $ ($53 91) ($16.17) $000 $86 04 $63 80 S3B 40 S42 51 $000 $000 $56 91 $74,21 $6 12 $60.96 sooo $000 $000 $ $000 $78 22 ($1.98) $33 87 $55,19 so 00 S19.08 ($3,20) ($1.96) #REF! $2B.U #REF' $0,00 $1,255 OB $0,00 $ $54.24 $13.48 $0,00 $59.40 $ $0,00 $69,58 $0,00 $77.30 $41.54 $0,00 $38,50 $000 so.oo so 00 $000 $000 $99 97 ($10.29) ($50,48) $0,00 so 00 $0,00 so 00 $0,00 $0,00 $0,00 $0,00 $000 $0,00 $0,00 $0,00 $000 $ so 00 so 00 $0,00 $49.01 so 00 sooo so 00 sd oo $98 01 ISO CITY TAX ADM FEE TOTAL u.uuuu v.uuuu v.uuuu,._~uuo so #REFI so I $0 $0 s a1 I GRANIJ TOTAL: $751,171 $3,530,476 $2,779,305 $13, #REF I $0,00 #REF!