Downtown Development Authority

Meetings

The Lake Odessa Downtown Development Authority meets at the Page Building at 7:00 a.m. on the second Tuesday of every other month, beginning in January of each year.

Click here to view Meeting Agendas & Minutes

Board Members

• Sarah McGarry, Chair
• Bill Rogers, Vice Chair
• Sue Dahms, Treasurer
• Karen Banks, Secretary
• Marilyn Danielson
• Darwin Thompson
• Ben DeJong

What is a Downtown Development Authority?

A Downtown Development Authority (DDA) is designed to be a catalyst in the development of a community’s downtown district. The DDA provides for a variety of funding options, including millage and tax increment financing, for public improvements in the downtown district. 

Why would a community want a DDA?

The DDA tax increment financing mechanism allows for the capture of the incremental growth of local property taxes over a period of time to fund public infrastructure improvements. A community can capture property taxes which would have otherwise been paid to entities such as the library, community college and county, and instead use them for public improvements in targeted areas. By borrowing against the future tax increments, the DDA is able to fund large-scale projects, which can lead to new development opportunities within the downtown. In addition to the financing mechanism, the DDA structure results in the creation of a public board dedicated solely to the improvement of the downtown.

How does a DDA work?

Once established, the DDA is required to prepare a development plan and may create a tax increment financing plan to submit for approval to the local municipality. A development plan describes the costs, location and resources for the implementation of the public improvements that are projected to take place in the DDA district. A tax increment financing plan includes the development plan and details the tax increment procedure, the amount of bonded indebtedness to be incurred, and the duration of the program. 

What is Tax Increment Financing?

Tax increment Financing (TIF) is a procedure that allows municipalities to “capture” the additional, or incremental, taxes from property as it increases in value. Property owners continue to pay taxes as usual, but a portion of the revenue paid is diverted to pay for development activities that have a public benefit. No "extra" or "additional" taxes are incurred by a property owner by owning property withing a TIF district.