The City of Detroit Local Development Finance Authority (the “LDFA”) was established pursuant to Michigan Public Act 281 of 1986, as amended, to prevent conditions of unemployment and promotes growth in Detroit. The LDFA has the ability to support projects such as industrial facility revitalizations, technology park development, streetscape improvements and more. Funding comes from grants and taxes collected as a result of new growth within the new development areas.
The LDFA undertook the Jefferson/Connor Industrial Revitalization Project on the city’s east side to assist Chrysler Corporation in creating jobs and constructing a new manufacturing facility. (Link to TIF Plan) The LDFA has also obtained grant funding from the State of Michigan to support the Wayne State University Technology Park, the William G. Milliken State Park, and the streetscape improvements in the Lower Woodward and University Cultural Center Association areas.
The LDFA is governed by its Board of Directors, whose members are, with certain exceptions, appointed by the mayor subject to the consent of City Council.
Meetings on held the fourth Tuesday of June and October at 8:00 AM. The LDFA may also hold special meetings as needed. All meeting announcements are posted outside DEGC offices in the Guardian Building, 500 Griswold, Suite 2200, Detroit and at the Coleman A. Young Municipal Center. For more information, contact Jennifer Kanalos, Director of Board Administration.