Sec. 1.
As used in this act:
(a) "Economic development project" means land and existing or planned improvements suitable for use by an industrial or commercial enterprise, or housing development, or the protection of the environment, including, but not limited to, groundwater or surface water. Economic development project includes necessary buildings, improvements, or structures suitable for and intended for or incidental to use as an industrial or commercial enterprise or housing development; and includes industrial park or industrial site improvements and port improvements or housing development incidental to an industrial or commercial enterprise; and includes the machinery, furnishings, and equipment necessary, suitable, intended for, or incidental to a commercial, industrial, or residential use in connection with the buildings or structures.
(b) "Local unit" means a city, township, or village.
History: 1984, Act 425, Eff. Mar. 29, 1985 ;-- Am. 1990, Act 22, Imd. Eff. Mar. 6, 1990
Structure Michigan Compiled Laws
Act 425 of 1984 - Intergovernmental Conditional Transfer of Property by Contract (124.21 - 124.30)
Section 124.22 - Conditional Transfer of Property; Period; Written Contract; Renewal.
Section 124.23 - Formulation of Contract; Factors.
Section 124.24 - Public Hearing; Notice; Majority Vote Required.
Section 124.25a - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.
Section 124.26 - Contract; Provisions.
Section 124.27 - Contract; Additional Provisions.
Section 124.28 - Conditionally Transferred Property; Jurisdiction.
Section 124.29 - Other Method of Annexation or Transfer Prohibited.