MCL - Act 123 of 1995


ENTERPRISE COMMUNITY DEVELOPMENT CORPORATION ACT

Act 123 of 1995

AN ACT to provide for the authorization of municipalities of this state to create an enterprise community development corporation; to facilitate the implementation of strategic plans relating to the designation and treatment of enterprise communities; to stimulate the creation of new jobs for the disadvantaged and long-term unemployed; to promote revitalization of economically distressed areas; to prescribe the powers and duties of enterprise community development corporations; to provide for the creation of neighborhood review panels; and to provide for the condemnation and transfer of public and private property to carry out the purposes of this act.


History: 1995, Act 123, Imd. Eff. June 30, 1995




The People of the State of Michigan enact:
Document Type Description
Section 125.2601 Section Short title.
Section 125.2603 Section Legislative findings.
Section 125.2605 Section Definitions.
Section 125.2607 Section Enterprise community development corporation; application for incorporation; notice; public hearing; process for approving articles of incorporation and bylaws.
Section 125.2609 Section Articles of incorporation; filing; validity.
Section 125.2611 Section Incorporation of more than 1 corporation prohibited.
Section 125.2613 Section Board of directors; determination of size and composition by ordinance; appointment; removal; qualifications, selection, vacancy, number, and demographic diversity of members; executive committee; neighborhood review panel; employment of executive director and staff.
Section 125.2615 Section Board of directors; appointment; terms; expiration of term; compensation and expenses.
Section 125.2617 Section Disclosure of interest in matter before corporation.
Section 125.2619 Section Board of directors; quorum.
Section 125.2621 Section Corporation; powers and duties.
Section 125.2623 Section Corporation; dissolution.
Section 125.2625 Section Imposition of sanctions; basis; approval.
Section 125.2627 Section Proceedings under powers of eminent domain; taking and transfer of property; terms and conditions.
Section 125.2629 Section Construction of act.
Section 125.2631 Section Authority of act in addition to power of municipality.