20 chapters · 276 sections in this title.
Mich. Comp. Laws § 124.21 Definitions.
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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 …
Mich. Comp. Laws § 124.22 Conditional transfer of property; period; written contract; renewal.
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Sec. 2. (1) Two or more local units may conditionally transfer property for a period of not more than 50 years for the purpose of an economic development project. A conditional transfer of property shall be controlled by a written contract agreed to by the affected local units. (…
Mich. Comp. Laws § 124.23 Formulation of contract; factors.
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Sec. 3. When formulating a contract under this act, the local units shall consider the following factors: (a) Composition of the population; population density; land area and land uses; assessed valuation; topography, natural boundaries, and drainage basins; and the past and prob…
Mich. Comp. Laws § 124.24 Public hearing; notice; majority vote required.
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Sec. 4. (1) The legislative body of each local unit affected by a proposed transfer of property under this act shall hold at least 1 public hearing before entering into a contract under this act. Notice of the hearing shall be given in the manner provided by the open meetings act…