VILLAGE OF LAKE ORION
DOWNTOWN DEVELOPMENT AUTHORITY
ANNUAL REPORT
FYE 06/30/2018
Pursuant of DDA Act 197 of 1975, TIFA Act 450 of 1980, and LDFA Act 281 of 1986 REVENUE Property Tax: $ 680,357 Other Taxes 12,131
Sale of Fixed Assets 466,846 Interest Earned 2,761 Other Revenue 34,925 Total Revenue $ 1,197,020
EXPENDITURES Community Development $ 308,661 Debt Service – Principal 120,000 Debt Service – Interest 9,600 Capital Outlay – net 231,689 Total Expenditures $ 669,950 INITIAL ASSESSED VALUE Real Property SEV $ 9,316,600 Personal Property SEV 916,800 Commercial Facilities Tax – Total Initial Assessed Value $ 10,233,400 CAPTURED VALUE Captured Real Property $ 23,635,930 Captured Personal Property 877,250 Captured Commercial Facilities Tax 94,190 Total 2017 Captured Value $ 24,607,370 TAX INCREMENT REVENUES RECEIVED From Village $ 337,305 From Township –
From Intergovernmental-Local –
Total Tax Increment
Revenues Received $ 337,305 Source 2017-2018 Audit Cherie Hedrick, Village of Lake Orion,
Deputy Finance Director / Treasurer
Publish: Lake Orion Review January 16, 2019