24255 W Thirteen Mile Rd Ste 190 Village Composition 125 sq miles Telegraph Rd between 12 ½ Mile 14 Mile 60 Residential 40 Commercial all on Telegraph Rd Office District C1 Zone 9 buildings ID: 566187
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Village of Bingham Farms
24255 W. Thirteen Mile Rd – Ste 190Slide2
Village Composition
1.25 sq. miles, Telegraph Rd. between 12 ½ Mile – 14 Mile60 % Residential
40% Commercial (all on Telegraph Rd)Slide3
Office District
C-1 Zone 9 buildings 1.2 million sq. ft.
PS Zone 12 buildings 340,000 sq. ft.
Medical + OfficeSlide4
Business Task Force (1)
Just over 5 years ago Village held Business Task Force MeetingsObjectives- What can Village do to make our Office district more desirable Concept:
1. Need closer food establishments so employees can meet a 45 minute lunch break parameter
Village adopted Zoning Amendments creating outlot buildings in the C1 district for restaurants
Now have 6 food establishments and a Biggby Coffee Shop
along Telegraph RdSlide5
Business Task Force (2)
Concept:2. Install sidewalks so employees
can exercise on their lunch hour
When Telegraph Rd. was reconstructed several years ago – sidewalks installed from 12 ½ Mile to 14 Mile
Still working w/property owners to see if they’ll install sidewalks or pathways on their property + possibly interconnect complexesSlide6
Economics
Revenues:Village, like all municipalities, has been negatively impacted by Headlee and Prop AGreat Recession heavily impacted revenues
Village lost more than $40 million in Taxable Value between 2009-2011MTT (Michigan Tax Tribunal) issued $18 million in tax relief for BF property owners between 2010-2012Village estimates it will be decades before we recover revenue-wise from housing crash of 2008Slide7
EconomicsSlide8
EconomicsSlide9
EconomicsSlide10
The FutureSlide11
The Future
Village still financially in good shapeFortunate we have flexibility in our millage rate to generate revenue needed to maintain servicesVillage has raised millage rate from 6.8 mills in 2006 to 8.4 mills today
However property owners are paying the same amount ($) in taxes they were paying in 2007Slide12
Thank You
Kathryn HagamanVillage Clerk