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Lake Orion Village
DOWNTOWN DEVELOPMENT AUTHORITY ANNUAL REPORT
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December 22, 2010 - VILLAGE OF LAKE ORION
DOWNTOWN DEVELOPMENT AUTHORITY ANNUAL REPORT
FYE 06/30/2010
Pursuant of DDA Act 197 of 1975, TIFA Act 450 of 1980, and LDFA Act 281 of 1986
REVENUE
Property Tax: $ 654,810
Intergovernmental - Local $ 75,722
Interest Earned $ 4,288
Other Revenue $ 45,947
Total Revenue $ 780,767
EXPENDITURES
Community Development $ 401,828
Debt Service - Interest $ 6,315
Capital Outlay - net $ 202,102
Primary Government $ 100,000
Total Expenditures $ 710,245
OUTSTANDING BOND INDEBTEDNESS
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 $ 31,749,950
Captured Personal Property $ 1,537,070
Total 2008/2009 Captured Value $ 33,287,020
TAX INCREMENT REVENUES RECEIVED
From Village $ 337,240
From Township $ 185,898
From Intergovernmental-Local $ 207,395
Total Tax Increment Revenues Received $ 730,532
Source 2009-2010 Audit
Willa Smitko, Village of Lake Orion,
Finance Director/Treasurer
Publish: Lake Orion Review - December 22, 2010
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