//Downtown Kalamazoo plans to reinvest $66M in tax revenue by 2048

Downtown Kalamazoo plans to reinvest $66M in tax revenue by 2048

KALAMAZOO, MI — A new economic growth authority expects to leverage $66 million in state and local taxes to boost business in downtown Kalamazoo during the next 30 years.

Monday, the Kalamazoo City Commission approved a plan to reinvest tax revenue collected from increases in the value of downtown property. It outlines how funds will be spent on public infrastructure, support for local business and marketing for downtown Kalamazoo.

“I think it’s creative,” said Mayor Bobby Hopewell. “I think (the plan) is looking at everything from diversity to infrastructure, (programs) and open spaces. When you talk about places people want to live, those are things they want in their downtown. I think it’s targeting that heavily. I’m pretty pleased.”

See full article here.

By |2018-12-04T11:14:25+00:00December 4th, 2018|Uncategorized|Comments Off on Downtown Kalamazoo plans to reinvest $66M in tax revenue by 2048