City of Mt. Pleasant Home

Local Development Finance Authority (LDFA)

The City of Mt. Pleasant Local Development Finance Authority (LDFA) provides funding for the University Park SmartZone. The SmartZone was created in late 2000 to develop a certified technology park and increase high technology jobs in the Mt. Pleasant area. The park is located adjacent to the Central Michigan University (CMU) campus.


Meeting Information

The meetings are held at 7 a.m. at MMDC Office, 200 East Broadway, Mt. Pleasant, MI 48858. Meeting dates for 2019 are as follows:

May 1, 2019

July 17, 2019

October 22, 2019 (Informational Meeting)

November 7, 2019 (Informational Meeting)

January 7, 2020

Upcoming Meeting Agenda & Packet  

2009-Current Meeting Minutes

* For minutes prior to 2009 please contact Mary Ann Kornexl at (989) 779-5381 or mkornex@mt-pleasant.org.


District Maps

SmartZone and Local Capture Boundary Map


Funding Method

LDFA is funded by a portion of the property taxes from the properties located within the district. The LDFA Board then determines how the funds will be utilized, which directly or indirectly benefits all properties within the district. The development plan provides for marketing and administration expenses to CMU Research Corporation (CMURC) and Middle Michigan Development Corporation (MMDC).

The plan also provides for possible improvements to sidewalks, street lights, water, sewer, signage, landscaping, etc. Improvements will follow City standards and the CMU Covenants and maybe made in whole or in part with SmartZone tax Capture.


Current Capture Rate

Non-School: 40% Expires 12/31/2025

School: 40% Expires 12/31/2020


Annual Budgets

LDFA 2019 Amended and 2020 Proposed Budget


Annual Audit

See pages 1-12 and 60-63 of the City’s 2018 audit for details. A link to the 2018 audit can be found here.


Current Adopted Plans

Tax Increment Financing Plan and Development Plan


Contracts

Central Michigan Research Corporation

Middle Michigan Development Corporation


Synopsis of Activities (Accomplishments/Projects/Investments/Fund Balances)

Accomplishments/Projects/Investments through 2018
Fund Balances as of January 1, 2019
  • Total Fund Balance $227,181 consisting of:
    • Assigned Infrastructure Future Development: $159,503
    • Assigned Utility Connections $50,000
    • Unassigned: $17,678

Membership and Staff Contacts

A seven-member advisory board oversees the operation of the LDFA. Board members are appointed by the City Commission and the at large members serve staggered four-year terms. Board Members are not paid.

Current Members of the LDFA Board (term ending)
  • Margaret McAvoy (County Representative)
  • Jennifer Verlerger (School Representative)
  • Nancy Ridley (City Representative)
  • Barrie Wilkes (CMU Representative)
  • Rick Barz (December 31, 2019)
  • David McGuire (December 31, 2019)
  • Joshua Jerome (December 31, 2020)

The staff liaison for the LDFA is Jim McBryde, MMDC President, and can be reached at (989) 772-2858 or jmcbryde@mmdc.org