2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 57 of 2018 - Recodified Tax Increment Financing Act (125.4101 - 125.4915) › 57-2018-4 - Part 4 Local Development Finance Authorities (125.4401...125.4420) › Section 125.4415 - Development Plan Generally.

125.4415 Development plan generally.
Sec. 415.
(1) If a board decides to finance a project under this part, it shall prepare a development plan.
(2) To the extent necessary to accomplish the proposed development program the development plan shall contain:
(a) A description of the property to which the plan applies in relation to the boundaries of the authority district and a legal description of the property.
(b) The designation of boundaries of the property to which the plan applies in relation to highways, streets, or otherwise.
(c) The location and extent of existing streets and other public facilities in the vicinity of the property to which the plan applies; the location, character, and extent of the categories of public and private land uses then existing and proposed for the property to which the plan applies, including residential, recreational, commercial, industrial, educational, and other uses.
(d) A description of public facilities to be acquired for the property to which the plan applies, a description of any repairs and alterations necessary to make those improvements, and an estimate of the time required for completion of the improvements.
(e) The location, extent, character, and estimated cost of the public facilities for the property to which the plan applies, and an estimate of the time required for completion.
(f) A statement of the construction or stages of construction planned, and the estimated time of completion of each stage.
(g) A description of any portions of the property to which the plan applies, which the authority desires to sell, donate, exchange, or lease to or from the municipality and the proposed terms.
(h) A description of desired zoning changes and changes in streets, street levels, intersections, and utilities.
(i) An estimate of the cost of the public facility or facilities, a statement of the proposed method of financing the public facility or facilities, and the ability of the authority to arrange the financing.
(j) Designation of the person or persons, natural or corporate, to whom all or a portion of the public facility or facilities is to be leased, sold, or conveyed and for whose benefit the project is being undertaken, if that information is available to the authority.
(k) The procedures for bidding for the leasing, purchasing, or conveying of all or a portion of the public facility or facilities upon its completion, if there is no express or implied agreement between the authority and persons, natural or corporate, that all or a portion of the development will be leased, sold, or conveyed to those persons.
(l) Estimates of the number of persons residing on the property to which the plan applies and the number of families and individuals to be displaced. If occupied residences are designated for acquisition and clearance by the authority, a development plan shall include a survey of the families and individuals to be displaced, including their income and racial composition, a statistical description of the housing supply in the community, including the number of private and public units in existence or under construction, the condition of those in existence, the number of owner-occupied and renter-occupied units, the annual rate of turnover of the various types of housing and the range of rents and sale prices, an estimate of the total demand for housing in the community, and the estimated capacity of private and public housing available to displaced families and individuals.
(m) A plan for establishing priority for the relocation of persons displaced by the development.
(n) Provision for the costs of relocating persons displaced by the development, and financial assistance and reimbursement of expenses, including litigation expenses and expenses incident to the transfer of title, in accordance with the standards and provisions of the federal uniform relocation assistance and real property acquisition policies act of 1970, 42 USC 4601 to 4655.
(o) A plan for compliance with 1972 PA 227, MCL 213.321 to 213.332.
(p) Other material which the authority or governing body considers pertinent.
(3) It shall not be necessary for the board to prepare a development plan pursuant to this section if a development plan that adequately provides for accomplishing the proposed development program has already been prepared and where the development plan has been approved by the board and governing body pursuant to sections 416 and 417.
History:
2018, Act 57, Eff. Jan. 1, 2019