Simply put, a Tax Increment Finance Authority (TIFA) District is a designated area within the community where tax dollars collected in the district are reinvested within that geographical border. The tax dollars collected directly support local businesses and stimulate community offerings to boost the local economy and improve the quality of life for residents and businesses across the community.
While Romulus was not unique from other communities when it established the TIFA district in 1984, what makes the Romulus TIFA District unique is the international airport, major highways and railways that cross within the district and the opportunities for development and community enhancement the TIFA funds provide.
Since its inception, millions of dollars have been reinvested in the district, providing funding for not only business development, but for community offerings such as the Romulus Athletic Center, road improvements and street lighting enhancements. Through these developments, thousands of jobs have been created in the community, resulting in a surge of new residential home construction across the City.
In 2017, TIFA was instrumental in funding the Vining Road interchange, which extended Vining Road from Smith Road to Ecorse Road. While the improvements complemented the Romulus Amazon facility, the roadway project provided a much-needed extension of road now utilized by residents and public safety officials alike, improving traffic flow within the surrounding area.
In 2022, TIFA funds will be utilized to redesign and improve the Wayne and Ecorse Road intersection. The project will be a welcome roadway improvement that will again benefit all who travel within the area.
The creative and forward thinking members of the Romulus TIFA—a board comprised of 11 local business owners and Romulus residents appointed by the Mayor and approved by City Council—are to be commended for their innovative approach and dedication to ensuring reinvestment within the district is beneficial to residents and the business community. Thanks to their efforts, Romulus continues to be a Home of Opportunity for residents, businesses and visitors alike.
To learn more about TIFA, please visit our website at http://romulusgov.com/government/boards_and_commissions/tax_increment_finance_authority/index.php