Brownfield Redevelopment Financing Program - 186-0420-23
Description of Agency
The Brownfield Redevelopment Financing Act, Public Act 381 of 1996, as amended, authorizes municipalities to create brownfield redevelopment authorities to facilitate the implementation of brownfield plans and promote revitalization of eligible properties through the use of tax increment financing for eligible activities. The Act prescribes the powers and duties of, and the related requirements and criteria for, the brownfield redevelopment authorities, the Department of Environment, Great Lakes, and Energy (EGLE), and the Michigan Strategic Fund (MSF). This performance audit was required by Section 125.2666(6) of the Michigan Compiled Laws.
Audit Objectives
- To assess the effectiveness of the Brownfield Redevelopment Financing Program to increase the taxable value of eligible brownfield properties.
- To assess the effectiveness of EGLE’s and MSF’s efforts to administer the Program.
- To assess EGLE’s and MSF’s compliance with statutory reporting requirements.
Timing
Estimated Release Date: Mid 2024
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