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March 28, 2012 - NOTICE
VILLAGE OF OXFORD
DOWNTOWN DEVELOPMENT AUTHORITY (DDA) ANNUAL REPORT
For Fiscal Year Ending June 30, 2011
Pursuant of DDA Act 197 of 1975 Section 15 (3)
A) The amount and source of revenue in the account:
REVENUE Amount
Property Tax: $ 426,330
Intergovernmental -Local 5,471
Interest Earned 2,656
Other Revenue 41,685
Total Revenue $ 476,142
B) The amount in any bond reserve account
Loan Proceeds $ 39,213
C) The amount and purpose of
expenditures from the account
Community Development $ 327,851
Debt Service 145,637
Capital Outlay -net 1,295
Total Expenditures 579,783
Net Change in Fund Balance (64,428)
FUND BALANCE, beginning of year 225,517
FUND BALANCE, end of year $ 161,089
D) The amount of principal and interest
on any outstanding bonded indebtedness
OUTSTANDING INDEBTEDNESS $ 1,460,913
E) The initial assessed value of the project area
Real Property SEV $ 4,972,300
Personal Property SEV 578,875
Total Initial Assessed Value $ 5,551,175
F) The captured assessed value
retained by the authority
Captured Real Property $ 15,426,750
Captured Personal Property 1,845,885
Total 2010/2011 Captured Value $ 17,272,635
G) The tax increment revenuews
received
From Village $ 189,857
From Township (General, Parks &
Rec, Library, Fire) 126,625
From Intergovernmental-Local
(County, OCC) 109,848
Total Tax Increment Revenues Received $ 426,330
H) The number of jobs created as a result of the implementation of the tax increment financing plan
Estimated Jobs Created 9
I) Any additional information the governing body or the state tax commission considers necessary
none
Source 2010-2011 Audit
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