How We’re Funded
The Traverse City DDA Operational Budget is funded through a 2 mill levy on property owners within the DDA District. Additional funding comes from intergovernmental contracts, fees, and the Downtown Traverse City Association. The DDA Operational Budget supports administration, office supplies (i.e. computers, phones, email accounts, etc.), related items, community promotional items (i.e. flower baskets), and professional services (i.e. IT services, web services, etc.)
The DDA has two Tax Increment Financing (TIF) plans, TIF 97 and Old Town TIF. Revenues are used to fund public infrastructure improvement in the DDA District. The two TIFs are charged an administrative fee that serves as revenue for the Operational Budget. Annually, the City of Traverse City receives a percentage of TIF revenues from TIF 97 and Old Town TIF.