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December 21, 2011 - VILLAGE OF LAKE ORION
DOWNTOWN DEVELOPMENT AUTHORITY ANNUAL REPORT
FYE 06/30/2011
Pursuant of DDA Act 197 of 1975, TIFA Act 450 Of 1980, and LDFA Act 281 cat 1986
REVENUE
Property Tax: $ 588,814
Intergovernmental - Local $ 154,054
Interest Earned $ 1,695
Other Revenue $ 31,580
Total Revenue $ 776,143
Other Financing Sources:
Loan Proceeds $ 1,200,000
EXPENDITURES
Community Development $ 483,731
Debt Service - Interest $ 1,480
Capital Outlay - net $ 688,706
Primary Government $ 100,000
Total Expenditures $ 1,273,917
OUTSTANDING INDEBTEDNESS 1,200,000
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 $ 28,850,380
Captured Personal Property $ 986,850
Total 2010/2011 Captured Value $ 29,837,230
TAX INCREMENT REVENUES RECEIVED
From Village $ 390,950
From Township $ 166,017
From Intergovernmental-Local $ 185,901
Total Tax Increment Revenues Received $ 742,868
Source 2010-2011 Audit
Willa Smitko, Village of Lake Orion,
Finance Director/Treasurer
Publish: Lake Orion Review - December 21, 2011
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