FACILITIESAPPROVED

Independence Township Downtown Development Authority Agenda Packet 2026-05-20

DDA-Township Agreement for MDOT Intersection Local Match

$700,000 (estimated local share; $140,000 annually for 5 years beginning 2027)Town of Independence charterCHARTER TOWNSHIP OF INDEPENDENCEMay 20, 2026

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Description

The DDA entered into an agreement with the Charter Township of Independence to fund the estimated $700,000 local match for the MDOT Dixie Highway and White Lake Road intersection project. Under the deal, the DDA will make five annual payments of $140,000 starting in 2027 from its tax increment revenues.

Contract Details

Contract Amount

$700,000 (estimated local share; $140,000 annually for 5 years beginning 2027)

Vendor

CHARTER TOWNSHIP OF INDEPENDENCE

Agency

Town of Independence charter, MI

Contract Type

FACILITIES

Document Date

May 20, 2026

Contract Term

Five years, with first installment due March 31, 2027 and one installment in each of the following four years

Renewal Date

2031-03-31

Renewal Info

If the actual local share exceeds $700,000, the Township and DDA must confer to decide whether the DDA will contribute additional funds; no automatic obligation beyond the estimated amount is created.

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