GRAND RAPIDS, Mich. — The Grand Rapids City Commission approved 12 budgets for the 2023 fiscal year on Tuesday, May 10.
The budgets support Grand Rapids’ strategic plan with the goal to ensure that residents, employees, and businesses have pathways to financial growth and security, with connections to other strategic priorities.
A list of the approved budgets can be found below:
- Brownfield Redevelopment Authority ($15,507,194)
- Downtown Development Authority ($16,240,851)
- Grand Rapids Economic Development Corporation ($120,296)
- Grand Rapids SmartZone Local Development Finance Authority ($2,374,546)
- Michigan Street Corridor Improvement Authority ($397,500)
- Monroe North Tax Increment Finance Authority ($1,390,901)
- North Quarter Corridor Improvement Authority ($106,467)
- South Division-Grandville Corridor Improvement Authority ($218,000)
- Southtown Corridor Improvement Authority ($647,858)
- Uptown Business Improvement District ($133,505)
- Uptown Corridor Improvement Authority ($457,700)
- West Side Corridor Improvement Authority ($290,000)
“These investments continue to align our economic development team’s efforts with the City’s strategic plan,” said Economic Development Director Jeremiah Grace. “They align with the goal of advancing equitable access to enhance economic prosperity and affordability and reduce disparities in the community.”
The remaining Fiscal Year 2023 Preliminary Fiscal Plan reviews will be held on May 17 at 7 p.m., and on May 24 at 10 a.m. and 7 p.m. They will be available to stream on the City of Grand Rapids Facebook page and YouTube channel.