Michigan Compiled Laws Act 123 Of 1995 Enterprise Community Development Corporation Act (125.2601 - 125.2631)

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

Section 125.2601 Short Title.
This act shall be known and may be cited as the “enterprise community development corporation act”. History: 1995, Act 123, Imd. Eff. June 30,
Section 125.2603 Legislative Findings.
There exists in this state the continuing need for programs to alleviate and prevent conditions of long-term unemployment, economic distress, and accompanying social ills....
Section 125.2605 Definitions.
As used in this act: (a) “Board” means the board of directors of an enterprise community development corporation. (b) “Chief executive officer” means the...
Section 125.2607 Enterprise Community Development Corporation; Application For Incorporation; Notice; Public Hearing; Process For Approving Articles Of Incorporation And Bylaws.
(1) A written application may be made by not less than 3 persons to the governing body of a municipality with a population of...
Section 125.2609 Articles Of Incorporation; Filing; Validity.
(1) If the governing body approves both the application to incorporate the corporation and the articles of incorporation, the clerk of the municipality shall...
Section 125.2611 Incorporation Of More Than 1 Corporation Prohibited.
A municipality shall not approve incorporation of more than 1 corporation under this act. History: 1995, Act 123, Imd. Eff. June 30, 1995
Section 125.2613 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.
(1) The size and composition of the board shall be determined by an ordinance of the municipality. In a municipality with a population of...
Section 125.2615 Board Of Directors; Appointment; Terms; Expiration Of Term; Compensation And Expenses.
(1) The board of directors shall be appointed for staggered terms as prescribed by an ordinance of the municipality. (2) A director whose term...
Section 125.2617 Disclosure Of Interest In Matter Before Corporation.
A director who has either a direct or indirect interest in a matter before the corporation shall disclose that interest before the corporation takes...
Section 125.2619 Board Of Directors; Quorum.
The number of board members required to make a quorum for the transaction of corporation business shall be prescribed by an ordinance of the...
Section 125.2621 Corporation; Powers And Duties.
(1) The corporation has the powers and duties to do all of the following: (a) Coordinate, review, recommend prioritization of, monitor, and evaluate the...
Section 125.2623 Corporation; Dissolution.
(1) A corporation that completes the duties enumerated in section 21(1)(a) shall be dissolved by the adoption of a resolution by a majority of...
Section 125.2625 Imposition Of Sanctions; Basis; Approval.
The chief executive officer of the municipality may impose sanctions upon the corporation based on periodic performance reviews as prescribed by an ordinance of...
Section 125.2627 Proceedings Under Powers Of Eminent Domain; Taking And Transfer Of Property; Terms And Conditions.
In order to accomplish the purposes of this act, a municipality may institute and prosecute proceedings under its powers of eminent domain in accordance...
Section 125.2629 Construction Of Act.
This act shall be liberally construed to effectuate its purposes. History: 1995, Act 123, Imd. Eff. June 30, 1995
Section 125.2631 Authority Of Act In Addition To Power Of Municipality.
The authority given by this act shall be in addition to and not in derogation of the power of a municipality existing under statutory...

Last modified: October 10, 2016