DDA stands for Downtown Development Authority. In 1975, the Michigan Legislature allowed communities like Romeo to establish a Downtown Development Authority.
According to the Act, the purpose of a DDA includes:
Correcting and preventing deterioration in business districts.
Encouraging historic preservation.
Authorizing the creation and implementation of development plans in the districts.
Promoting the economic growth of the districts.
Creating a Downtown Development Authority Board.
DDAs may raise revenue for physical improvements through several methods, including: tax increment financing, issuing revenue bonds, tax levy, and grants.
The primary goal of the Romeo Downtown Development Authority is to promote and preserve the economic health and stability of our wonderful downtown.
