Local Development Finance Authority
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PURPOSE OF THE: LOCAL DEVELOPMENT FINANCE AUTHORITY ACT |
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The meetings are held at 7:30 am. on the second Tuesday of each month at the offices of the LDFA located at 127 N. River St., Evart, MI 49631:
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The Act encourages local development to prevent conditions of unemployment and promote economic
growth; provides for the establishment of local development finance authorities and prescribes their powers
and duties; provides for the creation of a board to govern an authority and prescribes its powers and duties;
provides for the creation and implementation of development plans, authorizes the acquisition and disposal of
interests in real and personal property; permits the issuance of bonds and other evidences of indebtedness by
an authority, prescribes powers and duties of certain state officers and agencies; and authorizes and permits
the use of tax increment financing.
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CREATION OF THE EVART LDFA
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On August 6, 1990, the City Council of the City of Evart adopted a Resolution of Intent to Establish a Local Development Finance Authority. The resolution provided for a public hearing to be held on the proposed resolution creating the authority and designated the boundaries of the Authority District. The public hearing was held on September 4, 1990, and on September 17, 1990, the City Council adopted a Resolution Creating the Local Development Finance Authority and Designating the Boundaries of the Local Development Finance Authority District. The Authority boundaries and plan were expanded by City Council action at its meeting of June 21, 1993. The Local Development Finance Authority was given all the powers and duties prescribed for a local development finance authority under the Act.
After creation of the authority, the City Council approved the appointment of seven of the members of the
LDFA Board. One member was also appointed by the Board of County Commissioners of Osceola County and
two members were appointed by the Board of Education of Evart Public Schools.
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THE 30 YEAR DEVELOPMENT PLAN
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The LDFA Act requires the preparation of a Development Plan by the Authority extending over the entire
life established for the Authority. Projects undertaken in the Plan are to be of benefit to the Authority District.
A strategic plan identified the strengths, weaknesses, threats and opportunities for the overall development
of the community. That plan was incorporated into the creation of the LDFA Development Plan to identify
tasks necessary to develop and enhance the LDFA District. The objectives set forth for the LDFA Plan are as
follows:
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The Evart Local Development Finance Authority 127 N. River St. P.O. Box 668 Evart, MI 49631-0668 231-734-6119 ddaldfa@evart.org |
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