5/16/14 - The Brighton City Council unanimously approved a resolution Thursday night which incorporates lowered property assessment rates for the proposed Principal Shopping District. The PSD Board is asking that the city approve an SAD for the downtown district so that it can promote downtown Brighton as a destination for shopping, dining and recreation. Two weeks ago, council approved the map for the proposed SAD. At a recent meeting, the PSD voted to approve reduced assessment rates for properties in the downtown district of 14 cents per square foot for the main floor in zone 1, and down from 14 cents a square foot to 12 cents for the main floor of parcels in zone 2. The basement levels and upper floors would also have reduced rates under the revised plan. With the lowered assessment rates, the SAD would produce about $70,500 per year, compared to $81,500 under the original scenario. However, City Manager Dana Foster says that wonât be a problem, since the city will at least temporarily assume the expense of staging the annual holiday lighting display, which was a $15,000 PSD expense. Foster tells WHMI a second public hearing will be held at the June 5th meeting, after which a final vote will be taken to confirm the assessment roll. The revenues generated from the SAD would be used for radio, billboard and print media advertising to promote the downtown. The Principal Shopping District has been funded for the last few years by the Downtown Development Authority, but - faced with a reduction in revenues - the DDA can no longer afford the expense. With Thursday nightâs vote, the proposed assessment roll will be on view at in the city clerk's office for public examination and notices will be mailed to all affected property owners. Itâs hoped the assessments can go on property ownersâ summer tax bills to expedite the revenue stream. (TT)
↧