1. CITY THREE RIVERS, MICHIGAN
ENTERPRISE PARK
TAX INCREMENT FINANCING AUTHORITY
DEVELOPMENT PLAN UPDATE
December
2012
December 2012
2. October 1, 2012
To the Citizens of the Greater Three Rivers Community:
On April 4, 1989, the Three Rivers City Commission created the Local Development Finance Authority, or Three
Rivers Industrial Development Authority (TRIDA), under Public Act 281 for the purpose of promoting industrial
development. The TRIDA has the responsibility to undertake activities within designated development districts that
will encourage industrial development in accord with a development plan approved by the City Commission.
Today TRIAD oversees two districts, the Three Rivers Area Enterprise Park (TRAEP), and the Three Rivers Airport
Industrial Park (TRAIP).
TRIAD is funded, in part, by Tax Increment Financing (TIF), whereby a portion of the property taxes paid by new
businesses are used to fund needed streets, water, sewer, electric, gas, telephone and internet utilities.
In the past 20-years, the pace of growth once envisioned for the 3TRAEP regional jobs center, has succumbed to
Michigan’s up and down economy. However, we have developed 100 acres of the 380 acre original plan and intend
to expand the TRAEP as future economic condition warrant.
Today, the Enterprise Park has proved successful having six businesses employing 48 people with the trend of
taxable value increasing at an annual compound rate of 24-percent, proving the purchase of land and the
development of the business park has significantly contributed to the growth and promise for the future of the greater
Three Rivers community.
Michigan law requires the City Commission to periodically renew the plan for future development.
This document summarizes TRIAD’s proposed work program for the next ten years.
TRIAD proposes to complete eight projects and activities over the next ten years to continue development of
Enterprise Park and accomplish the goals set forth in 1993 TRAEP plan. A schedule of projects and activities plus
the anticipated cost and proposed sources of funding are contained in this summary.
A public hearing before the City Commission is scheduled for December 4, 2012.
Sincerely,
Thomas J. Lowry, Mayor Steve Lucas, Chair
City of Three Rivers Three Rivers Industrial Development Authority
3. PROJECT LIST
1. IDA Administration – Continued & Future Park Development
Continuation of authority administration, management, promotion and development of the industrial parks
including future expansion and infrastructure development as contemplated in the original William & Works
conceptual development plan.
2. Completion of Monroe Extension
Final alignment determination and construction of proximate 2,200 lineal feet of street surface, signage, lighting
and underground infrastructure, at an estimated cost of $800,000.
3. Walking Trail Amenity
Construction of approximately 2,500 lineal feet of hard surface walking trail and amenities with preserved
wetland area, at an estimated cost of $250,000.
4. Phase I Infrastructure
Final alignment determination for up to 3 southern access ways and construction of proximate 1,300 lineal feet
of street surface lighting and underground infrastructure, at an estimated cost of $500,000; plus acquire the rail
road rights-of-way to create a common industrial area linking the TRAEP to the manufacturing enterprises and
Broadway including construction of a roadway connecting TRAEP to Broadway.
5. Land Acquisition for Industrial Park Expansion
Purchase of, at minimum, one additional property for park expansion, 17 acres at $100,000.
6. Phase II Infrastructure
Final alignment determination and construction of proximate 1,000 lineal feet of street, surface lighting and
underground infrastructure, at an estimated cost of $400,000.
7. Shovel Ready/Shell Building Construction
Preparation of plan, specifications and permitting for immediate construction and possible construction of
proximate 40,000 square foot building – estimated plans, specification & permitting cost of $5,000 with actual
construction cost to be determined at a future date.