[CPEO-BIF] Auditor: Michigan "Did Not 'Evaluate the Effectiveness'" of Brownfield Redevelopment Financing Program

[Lenny Siegel <lsiegel@cpeo.org>]

Auditor General Says State Did Not 'Evaluate the Effectiveness' of  
$500 Million in Select Tax Breaks

Michigan government agency did not measure even the most important  
part of the Brownfield program

By Matthew Needham
Michigan Capitol Confidential
July 23, 2012

An audit of a state program awarding over $500 million in tax breaks  
found that the state could not evaluate the program’s effectiveness.

A performance audit from the auditor general found that the  
Department of Treasury "did not have sufficient performance  
information available to evaluate the effectiveness of the Brownfield  
Redevelopment Financing Program."

The Brownfield Redevelopment Financing Program allows municipalities  
to create Brownfield Redevelopment Authorities, which use Tax  
Increment Financing to redevelop properties deemed "contaminated,  
blighted or functionally obsolete." Tax Increment Financing is used  
to subsidize redevelopment through expected future gains in tax revenue.

...

For the entire article, see
http://www.michigancapitolconfidential.com/17246

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

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