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Lake Orion Village


DEVELOPMENT AUTHORITY ANNUAL REPORT



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December 19, 2012 - VILLAGE OF LAKE ORION

DOWNTOWN

DEVELOPMENT AUTHORITY ANNUAL REPORT

FYE 06/30/2012

Pursuant of DDA Act 197 of 1975, TIFA Act 450 of 1980, and LDFA Act 281 of 1986

REVENUE

Property Tax: $ 517,223

Intergovernmental - Local $ 63,490

Interest Earned $ 2,150

Other Revenue $ 110,696

Total Revenue $ 693,559

EXPENDITURES

Community Development $ 448,943

Debt Service - Interest $ 12,000

Capital Outlay - net $ 1,276,345

Total Expenditures $ 1,737,288

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 $ 25,245,160

Captured Personal Property $ 941,380

Total 2010/2011 Captured Value $ 26,186,540

TAX INCREMENT REVENUES RECEIVED

From Village $ 271,853

From Township $ 145,705

From Intergovernmental-Local $ 163,155

Total Tax Increment Revenues Received $ 580,713

Source 2011-2012 Audit

Michelle Lalla, Village of Lake Orion, Treasurer

Publish: 12/19

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