Hamtramck moves forward to create urban market

The City of Hamtramck Downtown Development Authority (DDA) has approved a formal development plan outlining 10 initiatives that will help create a viable urban market for the city. Key initiatives include a formal retail business recruitment and retention program, building façade improvement program and a public safety program.

By creating initiatives to facilitate an urban market, Hamtramck city officials feel that this is a way to showcase the city’s urban uniqueness and relay that it is in a much different place financially and has seen a recent insurgence of big developments in the making. “Significant improvements have been made here,” says Erik Tungate, director of Community & Economic Development for Hamtramck. “This is our time to share some amazing assets with the metropolitan region.”

The plan is backed by a 2-mil tax increase and utilization of tax increment financing. This means that property owners in the DDA district will be able to utilize 2 extra mils of tax to finance the 10 initiatives, for example, the façade improvement program. This plan relays to business owners that there is a dedicated source of funding available for improvements.

Source: Erik Tungate, Director of Community & Economic Development for Hamtramck