City Hall Auditorium 33000 Civic Center Drive Livonia, MI 48154
AGENDAS & MINUTES
Agendas are available prior to the meetings. Minutes are available following approval.
The Economic Development Corporation has five members (nine members prior to January 2009) that are appointed by the Mayor and approved by the City Council. The members serve for six years.
Kenneth Hale, Vice Chair
Charlotte Mahoney, Treasurer
Livonia’s Economic Development Corporation (EDC) is a public corporation established by the City of Livonia under Michigan Public Act 338 of 1974, as amended. The EDC provides a partnership between the public and private sectors and offers an incentive program designed to help businesses grow and prosper.
Governed by a Board of Directors, composed of business leaders and community representatives, the EDC schedules regular meetings to discuss the issuing of tax-exempt revenue bonds or notes to finance all or part of the costs of a project. These costs may include land acquisition, new construction, renovation of an existing property and machinery and equipment.
The EDC of Livonia serves two main purposes:
To help increase employment and capital improvements within the City of Livonia and thereby increase the tax base.
To help qualified businesses and non-profit organizations that are presently located or would like to locate within the City of Livonia secure financing at rates of interest below normal commercial lending rates.
Acquisition of equipment and/or machinery
Renovation of existing property
Replacement housing project incidental to an industrial or commercial enterprise