No Division Here
GRAND RAPIDS — Kent County commissioners unanimously chose to follow their economic development participation policy last week and opted out of the new Division Avenue Corridor Improvement District.
That means Gaines and Byron townships won’t be able to capture the tax-increment share of the county’s property tax and millages revenues to use for improvements along Division Avenue from 60th to 84th streets. County officials will now try to enter into a separate tax-sharing agreement with the townships.
The county created its policy last May after commissioners learned that $6 million of county revenue is captured annually by abatements, exemptions and tax-increment financing authorities. Last week’s decision was the fourth time the county has chosen not to participate in a new or expanding TIFA in a little more than a year.