TIFA & LDFA Districts
The City of Newaygo now offers a façade grant program for the City’s Tax Increment Finance Authority district. The program is available to commercial and mixed-use property owners and lessees who wish to make permanent physical improvements to their buildings. The City of Newaygo is offering a competitive matching grant, up to 50 percent of the eligible costs.
The Newaygo Tax Increment Finance Authority board has approved up to $15,000 for the program’s first round. Eligible applicants must be located in the TIFA district and are encouraged to submit applications.
Project awards will be made around the beginning of each calendar quarter and are contingent on available funding. Application deadlines prior to each calendar quarter award are February 28, May 31, August 31, and November 30.
The grant committee will review applications submitted at each deadline and determine award of funds until the grant funds are depleted. It is expected that more funding will become available at the beginning of each fiscal year which begins July 1st, unless approved sooner.
Full details of the program and a map of the TIFA district are found in the links below.
What is TIFA & LDFA?
Basic Information on Districts located in Newaygo
Tax Increment Finance Authority (TIFA)
Local Development Finance Authority (LDFA)
The role and focus of TIFA/LDFA is economic and community development. This is accomplished by funding activities that support physical improvements in the district and programs that will halt decline and foster job growth. The following are some activities that TIFA/LDFA engage in:
- Support job and business expansion
- Promotion of the district
- Infrastructure repair and improvements
- Community amenities
Financial Highlights for fiscal year 2023-24:
Local and state revenue of approximately $1,668,165
Distributes back to government entities approximately $400,000
Budgeted for projects and district administration, approximately $1,310,140
Local and state revenue of approximately $230,849
Distributes back to government entities approximately $220,589
Budgeted for projects and district administration, approximately $70,000
TIFA/LDFA is governed by a 13 member board that represents various industries/business throughout the community. The board meets the beginning of each calendar quarter. For more information on board members or meeting times, visit the City website: www.newaygocity.org
Goals and direction of TIFA/LDFA for fiscal year 2023-24:
- Powerhouse Bldg: Analysis, begin upgrades for outdoor pavilion
- Paving of streets and parking lot sections, sidewalks
- Town Square project: Design work
- Expansion of Social District (South Lot)
- Façade / property improvement grants
- Water/Sewer project: W. Wood St
- Support community festivals
- Operation of facility for office space, co-working, and business incubation
TIFA & LDFA Financials
TIFA and LDFA are called "component units" of the City of Newaygo. They are audited during the City's annual financial audit. There are links below for audited financial statements. Look for pages referring to component units in the audit.
The TIFA and LDFA budget is also linked below and includes fund balances.
Download a File:
Audited Financial Stmts FY 2021-22
Audited Financial Stmts FY 2020-21
Audited Financial Stmts FY 2019-20
Audited Financial Stmts FY 2018-19
2022 - 2023 TIFA/LDFA Budget
2021 - 2022 TIFA/LDFA Budget
2020 - 2021 TIFA/LDFA Budget
2019 - 2020 TIFA/LDFA Budget
Board Members and Staff
For list of TIFA / LDFA Board Members and Staff, see link below.
TIFA/LDFA Board Members and Staff
Board Meetings and Minutes
The TIFA/LDFA board meets quarterly (January, April, July, October) in the Newaygo City Council Chambers at 7:00 A.M. See link below to Calendar/Meeting Dates.
Link to meeting Minutes is also found below.
The Recodified Tax Increment Finance Act (TIFA Act), 2018 PA 57 (Act "57")
Recodified TIFA Act 57
Please click on this link: TIFA Plan
Please click on this link: LDFA Plan
The links provided below contain contracts that relate to management of the TIFA district or services provided to the Authority.
The first agreement relates to TIFA hiring City personnel to manage and operate the TIFA and its projects and also provide reimbursement for use of the City's office space and equipment.
The second agreement relates to TIFA hiring the River Country Chamber of Commerce to handle the daily operations for the Stream Building located at 1 State Road, 2nd floor. It also includes support for managing City festivals.
TIFA Annual Synopsis of Activities
See links below for TIFA annual synopsis of activities by fiscal year.
LDFA Annual Synopsis of Activities
See links below for LDFA annual synopsis of activities by fiscal year.
City of Newaygo
28 State Road
Newaygo, Michigan 49337
Phone (231) 652-1657
Monday through Friday, 7:30a-4:00p
Emergency: Phone 911