125.4213c Retention and payment of taxes levied under state education tax act; conditions; application by authority for approval; information to be included; approval, modification, or denial of application by department of treasury; appropriation and distribution of amount; calculation of aggregate amount; lien; reimbursement calculations; legislative intent. Sec. 213c. (1) If the amount of tax increment […]
125.4214 Tax increment financing plan; preparation and contents; limitation; public hearing; fiscal and economic implications; recommendations; agreements; modification of plan; catalyst development project. Sec. 214. (1) When the authority determines that it is necessary for the achievement of the purposes of this part, the authority shall prepare and submit a tax increment financing plan to […]
125.4215 Transmitting and expending tax increments revenues; reversion of surplus funds; abolishment of tax increment financing plan; conditions. Sec. 215. (1) The municipal and county treasurers shall transmit to the authority tax increment revenues. (2) The authority shall expend the tax increment revenues received for the development program only pursuant to the tax increment financing […]
125.4216 General obligation bonds and tax increment bonds; qualified refunding obligation. Sec. 216. (1) The municipality may by resolution of its governing body authorize, issue, and sell general obligation bonds subject to the limitations set forth in this subsection to finance the development program of the tax increment financing plan and shall pledge its full […]
125.4217 Development plan; preparation; contents. Sec. 217. (1) When a board decides to finance a project in the downtown district by the use of revenue bonds as authorized in section 213 or tax increment financing as authorized in sections 214, 215, and 216, it shall prepare a development plan. (2) The development plan shall contain […]
125.4218 Ordinance approving or amending development plan or tax increment financing plan; public hearing; notice; record. Sec. 218. (1) The governing body, before adoption of an ordinance approving or amending a development plan or approving or amending a tax increment financing plan, shall hold a public hearing on the development plan. Notice of the time […]
125.4219 Development plan or tax increment financing plan as constituting public purpose; determination; ordinance; considerations; amendments; incorporation of catalyst development project plan. Sec. 219. (1) The governing body after a public hearing on the development plan or the tax increment financing plan, or both, with notice of the hearing given in accordance with section 218, […]
125.4220 Notice to vacate. Sec. 220. A person to be relocated under this part shall be given not less than 90 days’ written notice to vacate unless modified by court order for good cause. History: 2018, Act 57, Eff. Jan. 1, 2019
125.4221 Development area citizens council; establishment; appointment and qualifications of members; representative of development area. Sec. 221. (1) If a proposed development area has residing within it 100 or more residents, a development area citizens council shall be established at least 90 days before the public hearing on the development or tax increment financing plan. […]
125.4222 Development area citizens council; advisory body. Sec. 222. A development area citizens council established pursuant to this part shall act an advisory body to the authority and the governing body in the adoption of the development or tax increment financing plans. History: 2018, Act 57, Eff. Jan. 1, 2019
125.4223 Consultation. Sec. 223. Periodically a representative of the authority responsible for preparation of a development or tax increment financing plan within the development area shall consult with and advise the development area citizens council regarding the aspects of a development plan, including the development of new housing for relocation purposes located either inside or […]
125.4224 Development area citizens council; meetings; notice; record; information and technical assistance; failure to organize, consult, or advise. Sec. 224. (1) Meetings of the development area citizens council shall be open to the public. Notice of the time and place of the meetings shall be given by publication in a newspaper of general circulation not […]
125.4225 Citizens district council as development area citizens council. Sec. 225. In a development area where a citizens district council established according to 1945 PA 344, MCL 125.71 to 125.84, already exists the governing body may designate it as the development area citizens council authorized by this part. History: 2018, Act 57, Eff. Jan. 1, […]
125.4226 Notice of findings and recommendations. Sec. 226. Within 20 days after the public hearing on a development or tax increment financing plan, the development area citizens council shall notify the governing body, in writing, of its findings and recommendations concerning a proposed development plan. History: 2018, Act 57, Eff. Jan. 1, 2019
125.4227 Development area citizens council; dissolution. Sec. 227. A development area citizens council may not be required and, if formed, may be dissolved in any of the following situations: (a) On petition of not less than 20% of the adult resident population of the development area by the last federal decennial or municipal census, a […]
125.4228 Budget; cost of handling and auditing funds. Sec. 228. (1) The director of the authority shall prepare and submit for the approval of the board a budget for the operation of the authority for the ensuing fiscal year. The budget shall be prepared in the manner and contain the information required of municipal departments. […]
125.4228a Exemption. Sec. 228a. Beginning January 1, 2010, the authority shall be exempt from all taxation on its earnings or property. Instruments of conveyance from an authority are exempt from transfer taxes under 1966 PA 134, MCL 207.501 to 207.513, and the state real estate transfer tax act, 1993 PA 330, MCL 207.521 to 207.537. […]
125.4229 Historic sites. Sec. 229. (1) A public facility, building, or structure that is determined by the municipality to have significant historical interests shall be preserved in a manner as considered necessary by the municipality in accordance with laws relative to the preservation of historical sites. The preservation of facilities, buildings, or structures determined to […]
125.4230 Dissolution of authority; disposition of property and assets; reinstatement of authority; contesting validity of proceedings, findings, and determinations. Sec. 230. (1) An authority that has completed the purposes for which it was organized shall be dissolved by ordinance of the governing body. The property and assets of the authority remaining after the satisfaction of […]
