TIF & LDFA Districts

What is a "TIFA/LDFA"?

Basic Information for Tax Increment Finance Districts

Districts:
Tax Increment Finance Authority (TIFA)
Local Development Finance Authority (LDFA)

Description:
The role and focus of TIFA/LDFA is economic and community development. This is accomplished by funding activities that support physical improvements in the district and programs that will halt decline and foster job growth. The following are some activities that TIFA/LDFA engage in:

  • Support job and business expansion
  • Promotion of the district
  • Infrastructure repair and improvements
  • Community amenities
  • Beautification

Financial Highlights:
TIFA:
Local and state revenue of approximately $1,850,000
Distributes back to government entities approximately $820,000
Used for projects and district administration, approximately $1,030,000

LDFA:
Local and state revenue of approximately $250,000
Distributes back to government entities approximately $200,000
Used for projects and district administration, approximately $50,000

Governance:
TIFA/LDFA is governed by a 13 member board that represents various industries/business throughout the community. The board meets the beginning of each calendar quarter.

Goals and direction of TIFA/LDFA for coming year:

  • Beautification: Landscaping, archways
  • Paving of streets and parking lot sections
  • Support Museum improvement project
  • Pedestrian bridge over Muskegon River
  • Walkability enhancements, pilot changes on M37
  • Marketing/Branding Strategy
  • Support community festivals
  • Operation of facility for office space, co-working, and business incubation

TIFA & LDFA Budget 2019 - 2020

2019 - 2020 Budget:

Tax Increment Finance Authority Board Members

The Tax Increment Financing Authority (TIFA) meets the second Friday of each quarter (January, April, July, October) in the City Council Chambers at 7:00 A.M.

Voting Members:
Ron Armstrong, Chairperson
Julie Burrell
Bryce Cronk
Greg Slominski
Chris Wren

Nick Looman
Joel Phillips
Ed Fedell
Morgan Heinzman
Peg Mathis
Aaron Leestma
John Buckley
Kelly Tinkham


Staff:
Director: Jon Schneider
Secretary: Kim Goodin

The Recodified Tax Increment Finance Act (TIFA Act), 2018 PA 57 (Act "57")

TIFA Plan Summary

What is a TIFA District? How does it work? Please click this link to find out: TIFA Plan Summary

LDFA Plan

Please click on this link: LDFA Plan


City of Newaygo

28 State Road
Newaygo, Michigan 49337
Phone (231) 652-1657
Monday through Friday, 7:30a-4:00p
Emergency: Phone 911