NEWS
Tuesday, September 16, 2003
The City Council has voted unanimously to extent the life of the Downtown Development Authority, although harboring some skepticism:"Then, the amount of money the DDA sets aside for affordable housing projects become an issue.
The DDA sets aside 6 percent of its TIF money for housing. The council wanted a higher percentage and asked for 15 percent, or about $450,000 a year.
The breakthrough, Greff said, came Sunday night at a caucus meeting. The council agreed on contractual language that allowed the DDA wiggle room to say it "may" spend up to 15 percent or more on housing-related purposes.
The city would trust the DDA to live up to its intentions.
Council Members Kim Groome, D-1st Ward, and Heidi Herrell, D-3rd Ward, said they had reservations about that, but still voted to approve the renewal. [...]
While some people were concerned about the amount of money the DDA puts aside for affordable housing, others said allowing the DDA to capture property taxes is a form of corporate welfare that takes money from taxpayers to help businesses."
> From AANews: "Ann Arbor Council OKs deal with DDA"
Posted by Rob at 5:50 PM
