The Fremont City Council held a public hearing on Monday, the 5th of April, 2010 at 7 p.m. in the City Council Chambers at the Fremont City Hall, 101 East Main Street, Fremont, Michigan.

Purpose

The purpose of the meeting was to consider the adoption of an Ordinance approving amendments to the Development and Tax Increment Financing Plan (PDF), as amended (the "Plan") for the Downtown Development Authority (DDA) of the City of Fremont, pursuant to Act 197 of the Public Acts of Michigan of 1975, as amended.

Included Properties

The property to which the proposed Plan applies includes the traditional downtown/city center area and more conventional general commercial development along M-82 heading west out of downtown. The proposed amendment to the Plan was to include other properties in the greater traditional city center in Fremont. In addition, the Plan will be modified to remove a downtown parcel from the Tax Increment Financing District.

Funding

Funds to finance activities of the authority may be derived from several sources including:

• Municipal funds including state and federal grants
• Proceeds from revenue bonds
• Revenues generated from the use of assets
• Special assessment levies
• Tax increment financing receipts
• Taxes