PUBLIC NOTICE
VILLAGE OF LAKE ORION
DOWNTOWN
DEVELOPMENT AUTHORITY
ANNUAL REPORT
FYE 06/30/2016
Pursuant of DDA Act 197 of 1975, TIFA Act 450 of 1980, and LDFA Act 281 of 1986 REVENUE
Property Tax: $ 520,222
Intergovernmental – Local $ 68,747
Interest Earned $ 488
Other Revenue $ 109,666
Total Revenue $ 699,123
EXPENDITURES
Community Development $ 394,370
Debt Service – Principal $ 120,000
Debt Service – Interest $ 14,400
Capital Outlay – net $ 75,221
Total Expenditures $ 603,991
INITIAL ASSESSED VALUE
Real Property SEV $ 9,316,600
Personal Property SEV $ 916,800
Total Initial Assessed Value $ 10,233,400
CAPTURED VALUE
Captured Real Property $ 22,234,570
Captured Personal Property $ 769,160
Total 2014/2015 Captured Value $ 23,003,730
TAX INCREMENT REVENUES RECEIVED
From Village $ 247,930
From Township $ 187,469
From Intergovernmental-Local $ 153,571
Total Tax Increment
Revenues Received $ 588,969
Source 2015-2016 Audit
Alice Bryce, Village of Lake Orion,
Finance Director / Treasurer
Publish – Lake Orion Review – January 4, 2017