City of Detroit Local Development Finance Authority
The City of Detroit Local Development Finance Authority (LDFA) prevents conditions of unemployment and promotes economic growth in the city. The LDFA undertook the Jefferson/Connor Industrial Revitalization Project on the city's east side to help Chrysler Corporation create jobs and construct a new manufacturing facility. The LDFA issued bonds to assist with costs incurred in preparing the site for redevelopment, encouraging private investment of $1.2 billion and supporting 3,000 jobs.
The LDFA also obtained $8 million in grant funding from the State of Michigan to support the Wayne State University (WSU) Technology Park in the Woodward Technology Corridor, the William G. Milliken State Park in the east riverfront area, as well as streetscape improvements in the Lower Woodward and University Cultural Center Association areas.
Established in 1988 under PA 281 of 1986, LDFA funding comes from grants and tax increments captured as a result of new growth within a designated development area, and expended in accordance with a plan approved by City Council. The eleven member board represents four taxing jurisdictions.
The LDFA has regularly scheduled meetings on the fourth Tuesday of June and December. All meeting announcements are posted outside DEGC offices in the Guardian Building, 500 Griswold, Suite 2200, and at the CAYMC building in Detroit. Check our
calendar for meeting dates
Board Members
- William E. Aldridge, Detroit Public Schools
- John L. Davis
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Linda Forte, Comerica Bank
- Karla Henderson, City of Detroit
- Cheryl Johnson, City of Detroit
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Bernard Parker, Wayne County Board of Commissioners
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William Ritsema, Fifth Third Bank
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Mark Schrupp, Detroit Public Schools
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Roger Short, Lane Assurance Tax Advisory
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Sebastian Wade, Resident
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Walter C. Watkins, WCW Enterprises, L.L.C.