Michigamme River Basin
Tax Increment Financing and Water Improvement Resources Authority. (TIFA)

Development Plan,

Township of Republic, Marquette County, Michigan. August 2009.

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Prepared by:
U.P. Engineers & Architects, Inc.
Marquette, Michigan

Index
Development Plan
Introduction
General Description
Map and Boundaries
Legal Description
Existing Land Uses
Proposed Land Uses
Improvements Pages
Description of Open Space
Land Transaction in District
Zoning Pages
Proposed Zoning Changes
Development Cost
Land Ownership
Land Transfer
Relocation
Summary of Required Improvements
Tax Increment Plan
Introduction
Tax Increment Financing Procedure
Bonded Indebtedness
Duration of Tax Increment Plan
Impact on Other Taxing Jurisdictions
Exhibit A
Schedule of Properties and initial Assessed Value
Exhibit B
Tax Levy
Exhibit C
Estimated Revenue
Exhibit D
List of Improvements
Exhibit E
Amendments & Purchases
Exhibit F
Resolution

A. INTRODUCTION
The Michigamme River Basin in The Township of Republic, Marquette County, Michigan was
first constructed in the 1870’s with a rock and timber spillway to impound water for mining
operations. The present concrete dam was constructed in 1875-1876 to provide mechanical
energy to compress air to power mining operations. The dam was converted in 1906 to
generate electricity for mining operations. The dam at present is not utilized to generate power
and provides for the regulation of the water levels in the Michigamme River flowage. The dam is
presently privately owned and operated. The flowage is a vibrant recreational, residential and
scenic focal point for the community. The development pattern for property adjacent to the
flowage consists of seasonal residential use, single family homes, commercial lodging, forest
resources, and vacant former mining property. The district encompasses property one mile from
the shore of the flowage.

The Township of Republic proposes to establish a Michigamme River Basin Water Resources
Improvement Authority (WRIA) to promote and maintain the inland water resources of the
district. The Authority shall assist in future planning and improvements to public facilities
projects. A Tax Increment Financing District will be created as the primary financial mechanism
supporting the Development Plan. Utilization of a WRIA Tax Increment Finance District along
with optimization of federal grants, state grants, parks revenues, corporate donations, private
donations, and contribution of a community service organization will provide the capitol required
for sustaining existing facilities and additional construction activities.

The District is composed of commercial enterprises, housing, recreational property, idle mining
property, forestland, farms, municipal facilities, campgrounds and parks. Redevelopment with
an emphasis on passive waterfront recreation will improve residents recreational opportunities,
increase tourism trade, support retail activity, and encourage investment in the District.

The Township of Republic Water Resources Improvement Authority will be utilized to stabilize
property values and provide for a prosperous community were people like to gather, spend
leisure time, live, and work. The WRIA will assist in preservation of the Michigamme River Basin
by providing a source of funding for maintenance of the dam. The stabilization of the water level
in the basin will in turn preserve and enhance property values. A major objective is to have the
waterfront become a focal point and place of destination so people will feel proud of their
community and the natural recreational opportunities that are provided.

Realizing the significance of its water resources, the Township of Republic is embarking upon
a comprehensive revitalization and maintenance program for the District. A major component of
the plan will be to stabilize water levels within the flowage by assisting in maintenance and
rehabilitation the dam/spillway. The program is intended to strengthen the local economy by
providing initial improvements within the district to increase property values, and stimulate
additional development. Such improvements will set the overall tone of character of the area by
emphasizing the natural features of this scenic waterfront community.

B. GENERAL DESCRIPTION OF DISTRICT
The District is comprised of approximately 10.8 square miles of land and encompasses the
Michigamme River Basin Impoundment from the dam to the upper reaches of the flowage at the
”Narrows” and all land within a one mile distance of the flowage shores. The District includes
616 individual parcels of land.

There are mixed land uses in the District, including public office, commercial, residential,
developed public recreation areas, forest resources, farming, idle mining acreage, public
forest/recreation, service clubs, and seasonal cottages.
Adequate utility systems exist within the District in the community of North Republic including
water, wastewater, natural gas, telephone, and electrical service.

Public amenities located within the district include:
• Munson Park, located in North Republic, which offers picnic facilities, water front views,
river access via a public dock and a pavilion.
• School Lake Campground, located adjacent to the Michigamme River Basin and School
Lake, provides primitive waterfront camping sites.
• Republic Beach, located at the intersection of M 95 and County Highway LG, offers a
public beach, playground, horseshoe pits, boat launch and restroom facilities on the
Michigamme Basin.
• Paul’s Park, located in North Republic, provides a children’s neighborhood recreational
playground.
• Moose Country Snowmobile Club is based in the Township of Republic and services the
trail system within the community.
• Republic Township Hall and offices are located on West Kloman Avenue.
• Several informal water access sites are located within the District.
• The community water system, well field, and water treatment plant are located within the
District.
• The community sewer treatment lagoon system is located within the District.

C. MAP AND BOUNDARIES OF DISTRICT
Map depicts the boundaries of the Township of Republic’s Water Improvement Resource District. These boundaries shall represent the Tax Increment Financing District and correspond with the boundaries of the Development Plan.

MAP OF DISTRICT BOUNDARIES "PDF"

D. LEGAL DESCRIPTION
Legal Description
All of the following described property lying within Township of Republic, Marquette County, Michigan:

Township 46 North, Range 29 West
All of Sections 6, 7 and 18,
Section 5,
The South Half of the Southwest quarter (S1/2, SW1/4) and the West half of the
Northwest quarter (W1/4, NW1/4),
Section 8,
All that part of Section 8, lying West a line described as follows: Commencing at the
South quarter corner; then S89°50’53”W, along the South Section Line 1149.70 feet to
the Westerly line of the Republic Wetland Preserve and Point of Beginning; then
N02°55’30”E 747.89 feet; then N03°41’29”W 1708.54 feet; then N14°50’13”W 196.57
feet to a point on the North line of the Southwest quarter, being 151.16 feet East of the
Southwest corner of Government Lot 4; then continuing N14°50’13”W 657.67 feet to the
centerline of County Road LF; then Northerly along said centerline 750.0 feet, more or
less to the North line of Government lot 4; then Northerly along the West line of the
Moose Country Snowmobiler’s parcel to the North line of Section 8 and the Point of
Ending.
Section 17,
Government lot 3
Section 19,
Government lot 1 (NE1/4, NE1/4), the Northwest quarter of the Northeast quarter
(NW1/4, NE1/4), and the North half of the Northwest quarter (N1/2, NW1/4),
Section 20,
Government lot 1
Township 46 North, Range 30 West
All of Sections 1, 2 and 12
Section 11,
The Northeast quarter of the Northeast quarter (NE1/4, NE1/4).
Section 13,
The East half (E1/2), The North half of the Northwest quarter (N1/2, NW1/4), the
Southeast quarter of the Northwest quarter (SE1/4, NW1/4) and the Northeast quarter of
the Southwest quarter (NE1/4, SW1/4).
Section 24,
The Northeast quarter of the Northeast quarter (NE1/4, NE1/4).
Township 47 North, Range 30 West
All of Sections 35 and 36,
Section 26,
The South half (S1/2),
Section 34,
The East Half (E1/2), and the East half of the West half (E1/2, W1/2).

D. LOCATION, CHARACTER, AND EXTENT OF EXISTING PUBLIC AND PRIVATE LAND USES IN DISTRICT
Existing Public Uses:
Public land uses include the Republic Township Hall, parks, campground, vacant waterfront
property on School Lake, vacant waterfront property on the flowage park/swimming beach,
sledding hill, two boat launches, vacant land, and a parking lot.

The State of Michigan has numerous small lots within the district. Many of the lots are located in
the platted area of North Republic.

The public streets within the District are owned and maintained by the Marquette County Road
Commission.

The State Highway M-95 within the District is owned by the Michigan Department of
Transportation and maintained by the Marquette County Road Commission.

Exiting Private Uses
Private uses within District include various retail, service, office, financial establishments,
residential, industrial, forest recreational, seasonal cottages, resorts and idle mining property.

E. LOCATION, CHARACTER, AND EXTENT OF PROPOSED PUBLIC AND PRIVATE LAND USES IN DISTRICT
Proposed Public Land Uses:
The Republic Township Hall, parks, campground, vacant waterfront property on School Lake,
vacant waterfront property on the flowage park/swimming beach, sledding hill, two boat
launches, vacant land and a parking lot. Additional public waterfront access is proposed for
picnic areas and boat access.
Future improvements to the campground include expanded sites with utilities, a dump station,
restrooms and playground equipment, waterfront trails, and barrier free fishing platform at
School Lake.

Proposed Private Land Uses
Various private land uses are tentatively proposed in District. The prospects include substantial
rehabilitation of the Iron City Hotel, recreational resort expansion, two new residential homes,
potential industrial expansion, rehabilitation of waterfront homes, and commercial business
renovation.

F. IMPROVEMENTS TO DISTRICT
A detailed description of improvements to be made in the Township of Republic Water
Resources Improvement Authority District resulting from the Development Plan including
location, extent, character, and estimated cost of the improvements.
1. Dam maintenance or spillway upgrade with possible land donation/acquisition
located within part of Parcel No. 12-018-002-10 RML. Estimate $640,000
2. Campground renovation/expansion including 18 sites, electric service, fire rings,
picnic tables, gravel vehicle access and landscaping. Construction of two barrier free
sites with connecting walkways. Estimate $48,000
3. Dump Station construction for School Lake campground, community, and the Moose
Rapids campground. Estimate $ 7,500
4. Way-finding signage to detail location and directions to points of interest in the
District. Estimate $20,000
5. Community entrance signs (three) within District, constructed on M-95, with stone
base, welcome signs, and landscape. Estimate $60,000
6. School Lake playground renovation. Estimate $40,000
7. Fisheries Enhancement including fish cribs installation at various locations in the
basin. Estimate $15,000
8. Fish Cleaning Station construction at School Lake campground area. Estimate
$50,000
9. School Lake fishing access construction with barrier free trails and fishing pier.
Estimate $42,000
10. Iron Ore Heritage Trail Head Center development including property acquisition and
building renovation. Estimate $270,000
11. M-95 Welcome Center construction and rehabilitation of boat launch, parking lot and
picnic facilities. Estimate $450,000
12. Utilities for Welcome Center including water and sanitary Estimate $200,000
13. Munson Park landscape installation at park. Estimate $3,000
14. Town Square development including construction of parking lot, landscaping and 30
x 50 pavilion. Estimate $175,000
15. Historic Downtown rehabilitation including streetscape, landscape, tree planting.
sidewalk, and lighting. Estimate $200,000
16. Historic Downtown development of interpretive walk signage and leaflet information.
Estimate $5,000
17. Seasonal Banners installation within historic downtown area. Estimate $6,000
18. Boat Launch construction, located at County Road LLL/ Willow Drive by the Water
Treatment Plant and land acquisition for a portion of Parcel No.12-018-002-00 RML.
Estimate $50,000
19. Boat Launch rehabilitation, located on Hawk Drive and construction of a gravel
parking lot. Estimate $50,000
20. Picnic, park development, and land acquisition, Parcel No. 12-007-001-00 RML.
Estimate $80,000
21. Boats launch construction west side of M-95 at River Road. Estimate $ 18,000
22. Small Craft boat launch constructed on Republic Twp parcel No. 12-201-001-30.
Estimate $18,000
23. Storm water improvement construction within the District. Estimate $40,000
24. Iron Ore Heritage Trail construction of a connecting trail from School Lake to the southwest corner of the cemetery. Estimate $50,000
25. Trail connection access from south east corner of the cemetery to the Iron Ore Heritage Trail. Estimate $50,000
26. Cemetery interpretive trail information development including self guided signage
and leaflet information. Estimate $ 5,000
27. Roadway improvements for waterfront access. Estimate $50,000
28. Shoreland Preservation Zoning Ordinance including establishment an overlay zoning district. Estimate $20,000
29. Sanitary Sewer Extension including construction of sanitary sewers to areas presently serviced by septic systems. Estimate $200,000
30. Waterfront Plan for development, preservation, rehabilitation of resources. Estimate $20,000
31. Walkway/pedestrian path from North Republic to south boundary of District. Estimate $175,000
32. Potential property acquisition and site development for future, recreational, commercial, or light industrial use within the district. Estimate $50,000
Portrays Michigamme River Basin improvements to the District map.

G. DESCRIPTION OF OPEN SPACE AREA AND USES IN DISTRICT
All existing public open space will be retained under the current use. An approximate 5 acres of
private land could potentially become public land for recreational purposes and is intended for
additional public waterfront access.

H. LAND TRANSACTIONS IN DISTRICT
The Township of Republic Water Resources Improvement Authority may potentially purchase
three properties in the District for waterfront recreation development, dam maintenance and site
preparation for commercial development.

I. ZONING IN DISTRICT
Existing Zoning
Eight zoning districts exist within the District as shown in Map at bottom of "I". These zoning districts include:
R-1 Single Family Residential is intended “to promote residential use on smaller parcels of
land.”
R-2 Multiple Family residential is intended “to provide medium density semi-rural suburban
living on moderate size lots in area expected to be services by public water and sewer in the
near future”.
Rural Residential RR “is intended to promote lower density semi rural living in areas neither
requiring not anticipating the provision of public water and sewer services, while allowing limited
development compatible with the principal, residential use”.
General Commercial C-1 is intended “to provide a compact business area for the location of
offices and retail stores”.
Highway Commercial C-2 “is intended to provide a district that will allow the location and/or
expansion of business operations providing retail goods and services to the motoring public”.
Resource Production RP is intended “to establish and maintain for low intensity, those areas
which, because of their location, accessibility, and natural characteristics, are suitable for
agricultural, forestry and recreational uses”.
Industrial I is intended “to create industrial areas which will be attractive and comparable within
the Township, and will not adversely affect adjacent land uses”
Mineral Resource MR is intended “to establish and zone land area for reservation, protection
and extraction of minerals for the long term future”.
Mineral Production MP is intended “to establish and zone land areas for the reservation,
protection and extraction of minerals”

ZONING MAP

The above MAP is 17 MB in size and may take several minutes to open especially if you are using dial-up.

J. PROPOSED ZONING CHANGES
The zoning ordinance for Township of Republic is presently being reviewed by the Planning
Commission for update. No specific zoning changes are recommended as part of the
Development Plan.

K. DEVELOPMENT COSTS FOR DISTRICT
The total estimated cost of improvements outlined in the Development Plan for District is
$3,107,500. Such improvements will be financed in part by a sale of Tax Increment Bonds,
General Obligation Bonds, through Tax Increment generated as the project develops, or other
sources of funds. Debt retirement on the bonds will be accomplished through Tax Increment
Financing as indicated in the Tax Increment Financing Plan which is attached as part of this
report. All sales by the Michigamme River Basin Water Resources Improvement Authority will
be accomplished under the guidelines of the Township of Republic Board. The main focus of the
redevelopment will be on stabilizing the water level of the impoundment basin at an estimated
cost of $640,000. In the first three years the District will focus on planning and design of the
retrofit of the dam or spillway upgrades. The retrofit is anticipated to consume the majority of
available increment revenue generated. The goal would be to have the dam upgrade and
construction within a five year period.

L. LAND OWNERSHIP CHANGES IN DISTRICT
Potential property acquisition consists of two parcels of waterfront land and the Dam site in the
District. The parcels would provide additional waterfront for recreational boat access and public
recreation opportunities.
Other potential property acquisitions include vacant property for site development to assist
commercial development opportunities.

M. LAND TRANSFER IN DISTRICT
This Development Plan includes purchase of two waterfront properties for public recreation.
The ownership would be transferred to the Township of Republic. Other potential property
acquisitions include vacant property for site commercial site development and resale by the
Michigamme River Flowage Water Resources Improvement Authority to a private party.

N. RELOCATION LANGUAGE
The Michigamme River Flowage Water Resources Improvement Authority will comply with all
relocation requirements if required under State and Federal relocation guidelines. The proposed
property acquisitions are vacant land, and relocation activity is not anticipated.

O. PERMITS REQUIRED FOR CONSTRUCTION
The construction activities will be required to follow all applicable State Federal and local
permits for construction. Including soil erosion permits, MDEQ permits, Federal, State and local
construction permits.

SUMMARY OF REQUIRED IMPROVEMENTS
Michigamme River Basin Water Resources Improvement Authority Development Plan is
intended to revitalize the community by serving as the catalyst for private investment in the
District. This will be accomplished by stabilizing and maintaining the inland water body, the
Michgamme River Basin. Improvements shall also include dam/spillway maintenance, water
access, recreation opportunities, information facilities, year round tourism promotion,
bicycle/pedestrian, barrier free facilities, restrooms, fishing pier, and expanded campground.
The preservation of environmental resources shall be facilitated by an invasive species
inventory, fisheries improvements, shoreland zoning overlay district, waterfront plan,
engineering, legal and administrative services. The community shall provide a positive image
with a desirable waterfront and associated amenities.
Improvement projects shall focus on dam maintenance, waterfront access, fisheries
improvements, environmental resources preservation, recreational tourism, pedestrian access,
streetscape, public facilities construction, and park improvements.
The Michigamme River Basin Water Resources Improvement Authority will need to evaluate tax
increment revenue available and projects for prioritization for year 2010 through 2013. An
evaluation of the incremental increase in tax base should be completed in 2013. A
determination as to the feasibility of a bond issue for construction activities may be considered.

TAX INCREMENT PLAN
Michigamme River Basin Water Resources Improvement Authority Development Plan

A. INTRODUCTION
This Tax increment Plan is established to make possible the financing of the public
improvements necessary or desirable for the implementation of the Michigamme River Basin
Water Resources Improvement Authority’s Development Plan

B. TAX INCREMENT FINANCING PROCEDURE
The Tax Increment Financing Procedure as outlined Act 94 of the Public Acts of Michigan of
2008, as amended, requires the adoption by the Township, an ordinance, of a Development
Plan and a Tax Increment Financing Plan. Following the adoption of that ordinance, the
Township and County treasurers are required by law to transmit to the Michigamme River Basin
Water Resources Improvement Authority that portion of the tax levy of all taxing bodies paid
each year on the “captured assessed value” of all real and personal property located in the
Michigamme River Basin Water Resources Improvement Authority District. The amounts so
transmitted are hereinafter referred to as “tax increment revenue.”
“Captured assessed value” is defined as the amount in any one year by which the “current
assessed value” of all real and personal property in the development (including the assessed
value that appears on the tax roll under Act 198 of the Public Acts of Michigan of 1974 and
under 255 of the Public Acts of Michigan of 1978) exceeds the “initial assessed value” of all real
and personal property in the District as determined on the assessment roll of the Township then
in effect on the date that the ordinance establishing the Tax Increment Financing Plan is
approved. “Initial assessed value” means the most recently assessed value as finally equalized
by the State Board of Equalization of all taxable property within the boundaries of the District.
The “initial assessed value” for Michigamme River Basin Water Resources Improvement
Authority District is that which was in effect for the 2009 tax year.
Attached hereto as Exhibit A is a schedule of the initial assessed value of all real and personal
property in Michigamme River Basin Water Resources Improvement Authority Development
Plan district as of December 31, 2009.
The impacted tax jurisdiction are the Township of Republic and Marquette County, The tax levy
of the Township of Republic and Marquette County taxing jurisdictions is included in Exhibit B.
As a result, under this Tax Increment Financing Plan, the estimated annual tax increment
revenue to be paid by the Marquette County and Township of Republic Treasurers to the
Michigamme River Basin Water Resources Improvement Authority will be the sums set forth in
Exhibit C. These sums are based on the estimated “captured assessed value” which is given for
the twenty year period. Under this Tax Increment Financing Plan, the entire “captured assessed
value” is to be utilized by the Authority for the purposes set forth in the Development Plan for
District during the twenty year period.

C. BONDED INDEBTEDNESS TO BE INCURRED
The total estimated cost of specific improvements enumerated in the Development Plan for
Michigamme River Basin Water Resources Improvement Authority District is $3,107,500. This
estimate does not include payment of interest on bonds during development of tax increment
revenues, provision of reserves for payment of bonds, or increased costs due to inflation to
implement the Development Plan which is currently based on 2009 dollars. The Project costs
for District shall be completed only as incremental revenues are accumulated in years gone
through three. The Michigamme River Basin Water Resources Improvement Authority shall
evaluate the tax increments received vs. projections and determine if a bond issue is warranted
in years four through twenty to accelerate the revitalization of the district. The project costs for
the District could then be financed by tax increment bonds issued by the township of Republic or
from tax increment revenues. The Michigamme River Basin Water Resources Improvement
Authority shall make recommendations as the development progresses and as set forth in this
plan. In the event that the Township of Republic issues tax increment bonds, the Township of
Republic shall determine the amount of capitalized interest and reserves necessary to be
included in the bonds and amount, if any, of tax increment revenues to be set aside as a
reserve for payment of principal and interest on bonds.

D. USE OF TAX INCREMENTS
The tax increment revenues generated by the Michigamme River Basin Water Resources
Improvement Authority District pursuant to the Development Plan for said area, as it now exists
or is hereinafter amended, shall be used as follows:
First, to pay into the debt retirement fund, or funds, for all outstanding series of bonds issued
pursuant to this plan an amount equal to the interest and principal coming due (in the case of
principal whether by maturity or mandatory redemption) prior to the next collection of taxes, less
any credit for sums on hand in the debt retirement fund.
Second, to establish a reserve account for payment of principal and interest on bonds issued
pursuant to this plan, an amount equal to one-fifth of the largest combined annual principal and
interest payments due on bonds issued pursuant to this plan until the amount to the credit of the
reserve account is equal to the largest combined annual principal and interest requirements on
bonds issued pursuant to this plan. Any amounts to the credit of the reserve account at the
beginning of a fiscal year in excess of the requirements of the preceding sentence shall be
considered tax increment revenue for that year.
Third, to pay the administrative and operating cost of the Michigamme River Basin Water
Resources Improvement Authority and Township of Republic for the District, including planning
and promotion, to the extent provided in the annual budget of the Michigamme River Basin
Water Resources Improvement Authority, including the extension of the plan.
Fourth, to pay, to the extent determined desirably by the Michigamme River Basin Water
Resources Improvement Authority and approved by the Township of Republic, the cost of
completing public improvements as set forth in the Development Plan to the extent those costs
are not financed from the proceeds of bonds or other sources of funds.
Fifth, to pay the cost of any additional improvements to the District that are determined
necessary by the Michigamme River Basin Water Resources Improvement Authority and approved by the Township of Republic in accordance with the procedure for initial approval of
the plan.
Sixth, to reimburse the Township of Republic for funds advanced to make preliminary plans and
improvements necessary for the development of the District in accordance with this plan.
Any tax increment receipts in excess of those needed under the preceding paragraphs would
revert to the taxing jurisdictions or would be used for future development activities within the
District, as defined in the Development Plan or as expanded to include all or parts of the
Michigamme River Basin Water Resources Improvement Authority District pursuant to
amendment or modification of the Development Plan and this Tax Increment Financing Plan
pursuant to applicable provisions of Public Act No. 94 of 2008 or other laws. For the purposes of
this Tax Increment Financing Plan, the boundaries of the District as described in Section C –
Maps of Boundaries will remain fixed for the duration of this plan.

E. DURATION OF TAX INCREMENT PLAN
The Tax Increment Financing Plan shall commence the date the ordinance to adopt and
approve a Development Plan and Tax Increment Financing Plan for Michigamme River Basin
Water Resources Improvement Authority Development District is adopted by the Township of
Republic Board. Based on the projected tax increment revenue from existing and proposed
development and other sources of revenue to offset the dependency on tax increment revenue,
the plan shall be in effect for twenty years. However, the plan duration may be extended by
amendment or modification in the event that projected revenues and subsequent plan
implementation is not accomplished during this time frame. Such amendment or modifications to
the duration of the plan will be subject to review and final approval by the Township of Republic
Board. However, requests for any amendments or modification to the plan, including duration,
will be subject to the public review and approval process as was required for adoption of the
original plan.

F. IMPACT ON OTHER TAXING JURISDICTIONS
Prospering enterprises and residential homes are present in the District, however numerous
buildings are vacant. The land values are directly influenced by the preservation of this inland
water body, the Michigamme River Basin. Not proceeding with the Development Plan and Tax
Increment Financing Plan will likely lead to a decline in the assessed values of many properties.
Consequently, this would result in lower tax revenues to all taxing jurisdictions.
Conversely, completion of the plans will help prevent a decline in assessed value and all taxing
jurisdictions will benefit from the substantially increased value upon completion of the
Development Plan. More importantly, the effect of revitalizing the District will be realized
immediately by all taxing jurisdictions in a more indirect fashion as jobs are created, homes
preserved, recreational opportunities expanded, commercial business revitalized, and a tourism
related economy is expanded. Thus, the impact on the taxing jurisdictions is favorable. Based
on the estimated “captured assessed value” for years 2010 through 2029, Exhibit C sets forth
the monetary impact of the development and tax increment plans on the Township of Republic
and Marquette County.
An annual report will be transmitted to all taxing jurisdictions to keep them apprised of the status
of the Tax Increment Financing account. The report will include the amount of revenue in the
account; the amount and purpose of expenditures from the account; the amount of principal and interest on any outstanding bonded indebtedness; the initial assessed value of the District; the
captured assessed value retained by the authority; the tax increments received; status of the tax
increment financing account relative to projections in the original plan; and any additional
information as deemed necessary or desirable by the taxing jurisdictions.
After the initial 3-year period has lapsed, the Michigamme River Basin Water Resources
Improvement Authority will evaluate the progress that has been made. Particular attention will
be given to the amount of tax increment revenue that is actually generated during this period in
comparison to that amount projected in the original plan. (See Exhibit C of the Tax Increment
Financing Plan.) This evaluation will be done in conjunction with taxing jurisdictions and a 3-
year report will follow. The report will outline courses of action to be taken with all taxing
jurisdictions based on the 3-year assessment.

Exhibit A
Schedule of properties and initial assessed value

Exhibit B
Tax Levy

Exhibit C
Estimated Revenue

Exhibit D
List of Improvements

Exhibit E
Amendments & Purchases

Exhibit F
Resolution

TIFA By Laws

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