Want to find out more about trending businesses?
The Hastings Downtown Development Authority was implemented under the provisions of Act 187 of the Public Acts of 1975. The Act was developed to assist units of Government in their encouragement of historic preservation, in the correction, elimination, and prevention of blight and deterioration in the business district, and to encourage and promote economic development. The Act seeks to promote growth and revitalization through the use of tax increment financing to fund the activities of a development plan.The Act was intended to assist municipalities in reversing historic trends which have led to loss of population, jobs, and businesses. The Act seeks to improve the quality of urban life by attacking problems of urban decline where they are most apparent, in the downtown districts of urban communities.The Act seeks to accomplish its goals by providing municipalities with the necessary legal, monetary, and organizational tools to revitalize downtown districts through publicly initiated projects undertaken cooperatively with privately initiated projects. Downtown Development Authorities make use of the available tools depending on the particular problems and priorities of each community. The City of Hastings Downtown Development and Financing Plan has been prepared within the purposes of the Act addressing the problems and priorities as perceived by the Hastings Downtown Development Authority and approved by the Hastings City Council.
The City of Hastings Downtown Development and Financing Plan was adopted on April 28, 1986 and has been amended four times: first amendment adopted April 24, 1989; second amendment adopted August 12, 1991; third amendment adopted May 21, 2001; and the fourth amendment adopted May 27, 2008. The amendments facilitate the expansion of the development area, additional projects, and an extension in the term of existence of the DDA.
The DDA has identified certain priority downtown improvement needs that require its attention, participation, support, involvement, and encouragement. It is these priorities that the plan addresses and toward which it is directed. The annual budget reflects the plan’s goals. Objectives will be determined yearly to accomplish the implementation of the plan. Staff and the DDA will seek to fund those objectives and complete them within the subject budget year.