Michigan Compiled Laws
57-2018-6 - Part 6 Corridor Improvement Authorities (125.4602...125.4629)
Section 125.4605 - Development Area; Establishment in Municipality; Exception; Criteria; Compliance.

Sec. 605.
A development area shall only be established in a municipality and, except for a development area located in a qualified development area, shall comply with all of the following criteria:
(a) Is adjacent to or is within 500 feet of a road classified as an arterial or collector according to the Federal Highway Administration manual "Highway Functional Classification - Concepts, Criteria and Procedures".
(b) Contains at least 10 contiguous parcels or at least 5 contiguous acres.
(c) More than 1/2 of the existing ground floor square footage in the development area is classified as commercial real property under section 34c of the general property tax act, 1893 PA 206, MCL 211.34c.
(d) Residential use, commercial use, or industrial use has been allowed and conducted under the zoning ordinance or conducted in the entire development area, for the immediately preceding 30 years.
(e) Is presently served by municipal water or sewer.
(f) Is zoned to allow for mixed use that includes high-density residential use.
(g) The municipality agrees to all of the following:
(i) To expedite the local permitting and inspection process in the development area.
(ii) To modify its master plan to provide for walkable nonmotorized interconnections, including sidewalks and streetscapes throughout the development area.
History: 2018, Act 57, Eff. Jan. 1, 2019

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 125 - Planning, Housing, and Zoning

Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915)

57-2018-6 - Part 6 Corridor Improvement Authorities (125.4602...125.4629)

Section 125.4602 - Definitions; a to M.

Section 125.4603 - Definitions.

Section 125.4604 - Multiple Authorities; Establishment; Public Body Corporate; Powers.

Section 125.4605 - Development Area; Establishment in Municipality; Exception; Criteria; Compliance.

Section 125.4606 - Creation of Authority; Resolution by Governing Body; Notice of Public Hearing; Adoption of Resolution Designating Boundaries; Alteration or Amendment; Interlocal Agreement.

Section 125.4607 - Annexation or Consolidation; Effect.

Section 125.4608 - Authority Under Supervision and Control of Board; Membership; Appointment; Terms; Vacancy; Expenses; Chairperson; Oath; Proceedings and Rules Subject to Open Meetings Act; Removal of Board Member; Financial Records; Writings Subjec...

Section 125.4609 - Director, Treasurer, Secretary, Legal Counsel, Other Personnel; Compensation; Duties.

Section 125.4610 - Retirement and Insurance Programs.

Section 125.4611 - Board; Powers.

Section 125.4612 - Authority as Instrument of Political Subdivision.

Section 125.4613 - Acquisition of Private Property; Transfer to Authority; Use.

Section 125.4614 - Financing Sources; Disposition.

Section 125.4615 - Special Assessment; Levy; Borrowing Money and Issuing Notes.

Section 125.4616 - Revenue Bonds.

Section 125.4617 - Acquisition or Construction of Property; Financing; Bonds or Notes.

Section 125.4618 - Tax Increment Financing Plan.

Section 125.4619 - Tax Increment Revenues; Transmission; Expenditures; Use.

Section 125.4620 - Financing Development Program of Tax Increment Financing Plan; Authorization, Issuance, and Sale of General Obligation Bonds; Estimate of Anticipated Tax Increment Revenues; Resolution; Security; Lien.

Section 125.4621 - Development Plan; Preparation; Contents.

Section 125.4622 - Development Plan; Public Hearing; Notice; Contents; Opportunity to Speak; Hearing Record.

Section 125.4623 - Approval, Rejection, or Approval With Modification; Considerations.

Section 125.4624 - Notice to Vacate.

Section 125.4625 - Budget; Submission to Board; Preparation; Approval; Adoption; Cost of Handling and Auditing Funds.

Section 125.4626 - Preservation of Historical Sites.

Section 125.4627 - Dissolution.

Section 125.4629 - Tax Increment Revenues; Definition; Condition.