Generally speaking, the funds for this project have come in the form of unbudgeted Personal Property Tax Reimbursement payments from the State of Michigan. Since 2018, the City has received more than $5 Million from this unbudgeted revenue source.
These payments were unbudgeted because they are not guaranteed. The City did budget for nearly $4 Million of Personal Property Tax Reimbursements and did incorporate these funds into our operational budget. Since this additional $5 Million was not guaranteed, we did not feel that it was prudent to use these funds for operational investments or a lower the millage rate. Instead, we have chosen to use these funds for long-term transformative projects.