TIF 97

The Traverse City DDA is investigating the possibility of an extension to the TIF 97 Plan that is set to expire in 2027. Expansion of the plan would keep this unique funding tool in place to accomplish the goals set forth in the Plan that will have a lasting impact on the community and regional economy. An Ad Hoc Committee has been created by the Traverse City Commission to investigate remaining projects in TIF 97 and make a recommendation to the City Commission and DDA Board relating to the extension of TIF 97. TIF 97 Ad Hoc Committee Meetings may be found here.

TIF Ad Hoc Committee Members

  • Traverse City Commissioner Richard Lewis
  • Traverse City Mayor Jim Carruthers
  • Traverse City Commissioner Amy Shamroe
  • DDA Board Member Scott Hardy
  • DDA Board Member Gabe Schneider
  • DDA Board Member Bill Golden

History

The Traverse City DDA has been working diligently and thoughtfully since 1997 to implement the ambitious TIF 97 Plan. The success of the Plan’s implementation is tangible and proves that having a workable Plan that benefits not only Downtown Traverse City, but the region, is incredibly effective.

TIF 97 Successes

We have seen a direct correlation with significant private investment in the District because of these successful initiatives.

  • Larry C. Hardy Parking Garage
  • 100 Block Pedestrian Bridge (spanning over the Boardman and connecting to the Sara Hardy Downtown Farmers Market)
  • Union and Cass Street Streetscapes
  • Park Street Streetscapes
  • Park Street Public Restrooms
  • Pine Street Pedestrian Bridge (spanning over the Boardman River and connection the Front Street District to the Warehouse District)
  • Invested $1.3 Million in Bayfront Redevelopment and Clinch Park Tunnel
  • Invested dollars into significant City Opera House renovations, including roof replacement
  • Installed a public WIFI system within the district
  • Implemented a comprehensive Wayfinding System
  • Uptown Riverwalk
  • Crosswalks along E. Front Street and “bump outs” on the 100 and 200 block of E. Front Street
  • Created the Lower Boardman River Leadership Team to develop a Unified Plan
  • Invests in bridge repair

These are just some of the accomplishments, but it is most important that we recognize the benefits achieved through a robust and thoughtfully implemented plan: thriving community with private investment, historic preservation, and significant economic growth. When TIF 97 was initiated, the tax base was $32,860,008. Just two decades later, the value is now $80,165,205. Taxes captured for 2018: $2,014,156.

Our work, however, has not been completed. In order to implement projects identified in TIF 97, governing officials need to make sure the tools and resources are in place to accomplish the strategic goals and projects. The TIF 97 project yet to be completed in the DDA District include:

  • West Front Parking Garage
  • Street, alley, and sidewalk improvements
  • Farmers Market
  • Bridge repairs and improvements
  • Lower Boardman River improvements
  • Civic Square