In accordance with requirements of P.A. 57 of 2018, starting from 2019 this website will begin to accumulate and
display the most recent 5-years of the information materials listed as follows:
OWA-LDFA meetings have been scheduled to start at 3:00 p.m. on the 3rd Tuesday of each month.
Meetings are conducted in the Oscoda-Wurtsmith Airport Conference Room which is located at 3961 East Airport Drive.
During 2019 those meeting dates are scheduled as follows:
January 15
Cancelled
February 19
March 19
April 16
May 21
June 18
July 16
August 20
September 17
October 15
November 19
December 17
Annual Synopsis of Authority Activities
During the first 3-years (2013 – 2015) there was no tax increment to be captured and no OWA-LDFA revenue
collected. Therefore, the Authority did not complete any projects during the first 5-years. After capturing 3
consecutive years (2016 – 2018) of tax increment revenue, the OWA-LDFA accumulated a meaningful sum of
money. Going into the 2018 construction season, OWA-LDFA had unrestricted cash reserves of approximately
$293,485.89. During 2018 OWA-LDFA expended $144,924.66 for the reconstruction of Pride Road.
OWA-LDFA has not accumulated or retained tax increment funds for 5-years or more.
(A) The reasons for accumulating those funds and the uses for which those funds will be expended.
NA
(B) A time frame when those retained funds will be expended.
NA
(C) If any funds have not been expended within 10 years of receipt, describe both of the following:
NA
i. The amount of those funds.
ii. A written explanation of why those funds have not been expended.
(D) List Authority accomplishments, including progress made on the Tax Increment Finance Plan and
Development Plan goals and objectives for the immediately preceding fiscal year.
(E) List of Authority projects and investments, including active and completed projects for the immediately
preceding fiscal year.
During the preceding year OWA-LDFA implemented its first public improvement project. That
project involved reconstructing approximately 8/10ths mile of severely deteriorated ‘Pride Road’.
Pride Road serves as the primary access route to / from a section of industrial park. That
industrial park is the daily workplace of approximately 120 employees. OWA-LDFA expended
$144,924.66 on the Pride Road reconstruction project.
(F) List of Authority events and promotional campaigns for the immediately preceding fiscal year, if any.
None
The unencumbered fund balance for the immediately preceding fiscal year. $155,602.15
(as of December 31, 2018)
The encumbered fund balance for the immediately preceding fiscal year. $ 0.00
The amount and source of revenue in the account, including the amount of revenue from each taxing jurisdiction.
The collection of tax increment funds is the primary source of OWA-LDFA revenue. A breakdown of the
amounts OWA-LDFA is capturing from 2018 levies by each taxing jurisdiction’s may be viewed by clicking here.
The Authority’s only other source of revenue comes from modest amounts of bank account interest.
[An excel document that provides breakdowns for amounts OWA-LDFA is capturing from the levies of each taxing
jurisdiction is provided with this email].
The amount in any bond reserve account(s).
OWA-LDFA is not empowered to assume any forms of debt. Therefore a bond reserve account is not
maintained.
The amount and purposes of expenditures from the account.
NA
The amount of principal and interest on any outstanding bonded indebtedness.
NA
The initial assessed value of the development area or authority district by property tax classification.
2013
Real Properties: $8,149,341
Personal Property –
Commercial Businesses: $7,575,400
Personal Property –
Industrial / Manufacturing: $546,500
The captured assessed value retained by the Authority by property tax classification.
Real Properties
Personal Property Commercial Businesses
Personal Property Industrial / Manufacturing
2018 Value
$11,880,545
$ 9,351,900
$ 353,900
2018 Capture
$ 3,731,204
$ 1,776,500
- $ 192,500
The tax increment revenues received for the immediately preceding (2018) fiscal year.
$ 105,444.86
Has the Authority amended its Tax Increment Finance and Development Plan within the immediately preceding
fiscal year? And, if so, link to the current Tax Increment Finance Plan or Development Plan that was amended.
The Authority’s Tax Increment Finance and Development Plan has not been amended.
Current Contracts
Currently the OWA-LDFA has only one active contract. It is the three-party agreement that was executed
when establishing the Local Development Finance Authority. Parties to that agreement include Michigan
Economic Development Corporation, Charter Township of Oscoda and OWA-LDFA.
Minutes
In accordance with Federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, age, disability, religion, sex, familial status, sexual orientation, and reprisal. (Not all prohibited bases apply to all programs).
To file a complaint of discrimination, write to: USDA, Assistant Secretary for Civil Rights, Office of the Assistant Secretary for Civil Rights, 1400 Independence Avenue, S.W., Stop 9410, Washington, DC 20250-9410. Or call toll-free at (866) 632-9992 (English) or (800) 877-8339 (TDD) or (866) 377-8642 (English Federal-relay) or (800) 845-6136 (Spanish Federal-relay). USDA is an equal opportunity provider and employer.
