In Huron Township, Michigan the LDFA (Local Development Finance Authority) was created to encourage industrial and commercial development. The TIF or Tax Increment Financing was also established to stabilize, diversify and expand the tax base in the township.
The LDFA1 properties contain 449.4 acres with an additional LDFA2 land location which contains the previous Pinnacle property and other prime parcels.
The life of the Huron Township LDFA runs through 2032 so making the right decisions to assist the right companies in moving in and staying in the Township is paramount. The LDFA can assist with land aquision, planning and analysis, demolishing of current structures, redeveloping and rezoning activities, revamping infrastructure and relocation of drains ect.
In the past few years the LDFA commission has successfully installed drains, detention basins, rail server, gas line, wetland mitigation, legal planning/audits, water main loop and an electrical substation for an LDFA occupant, Inergy.
Other successes include improvements in overall tax base, local economy improvements, economic vitality and by providing these business incentives has ultimately attracted a total of 1125 new jobs to the area.