A PSD allows a municipality to collect revenues, levy special assessments and issue bonds in order to address the maintenance, security and operation of a district in order to promote economic development within a defined area.
To fund the PSD, a special assessment on all buildings within the DDA district in Grand Haven, based on the businesses square footage, will be set. DDA
Executive Director Dana Kollewehr said any building classified as residential real property would be excluded from the PSD assessment.
Based on proposed funding figures laid out by the Grand Haven DDA, the $98,585 raised each year by the PSD would be spent in the following way: $40,185 would be used for special events, $12,000 for kiosks, $8,000 for print advertising, $7,000 for print materials, $21,000 for seasonal decorations and $10,400 for electronic media.
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