reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.802 - Meanings of Words and Phrases.

125.802 Meanings of words and phrases.
Sec. 2.
For purposes of this act, the words and phrases used in sections 3 to 5 shall have the meanings ascribed to them in those sections.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.803 - Definitions; B, C.

125.803 Definitions; B, C.
Sec. 3.
(1) "Bureau" means the bureau of community services in the department of labor.
(2) "Business firm" means a sole proprietorship, partnership, or corporation authorized to do business in this state and subject to tax under either the single business tax act, 1975 PA 228, MCL 208.1 to 208.145, or the Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601.
(3) "Community development commission" means an advisory commission established pursuant to law within the department of labor.
(4) "Community services" means services, including counseling and advice, recreational programs, emergency assistance, medical care, or instructional services furnished to a person or a group in an eligible neighborhood.
(5) "Crime prevention" means activities which aid in the reduction of crime in an eligible neighborhood.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980 ;-- Am. 1983, Act 104, Imd. Eff. June 30, 1983 ;-- Am. 2007, Act 177, Imd. Eff. Dec. 21, 2007
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.804 - Definitions; D to L.

125.804 Definitions; D to L.
Sec. 4.
(1) "Department" means the department of labor.
(2) "Director" means the director of the department.
(3) "Eligible neighborhood" means an area located within a city, township, or village with boundaries clearly identified within the project application and certified by the department. The certification shall be made on the basis of federal census studies and current indices of local economic conditions.
(4) "Fund" means the neighborhood assistance and partnership fund created in section 6.
(5) "Job training" means instruction to a person that enables that person to acquire job readiness or vocational skills so that the person can become employable in a trade or profession of that person's choosing.
(6) "Local unit of government" means a city, township, or village in which a project will be located.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.805 - Definitions; N to R.

125.805 Definitions; N to R.
Sec. 5.
(1) "Neighborhood assistance project" or "project" means any arrangement between a neighborhood organization and 1 or more business firms for the provision of financial assistance for projects offering job training, community services, crime prevention, or physical revitalization.
(2) "Neighborhood organization" means any nongovernmental organization serving an area with geographically definable boundaries, having elected officials, adopted bylaws, and a minimum membership of 50 households, or 10% of the households, within its boundaries.
(3) "Physical revitalization" means the replacement, rehabilitation, or restoration of existing neighborhood facilities or the creation of new neighborhood facilities. Neighborhood facilities may include streets, sidewalks, parks, recreational facilities, residential structures, and public facilities.
(4) "Rebate" means the payment by the department to a business firm as provided in the reimbursement form.
(5) "Reimbursement form" means the form submitted by a business firm to the department for the purpose of receiving a rebate.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.806 - Neighborhood Assistance and Partnership Fund; Creation; Purpose; Limitation on Rebates; Rules.

125.806 Neighborhood assistance and partnership fund; creation; purpose; limitation on rebates; rules.
Sec. 6.
(1) A neighborhood assistance and partnership fund is created within the bureau of community services of the department of labor.
(2) The purpose of the fund shall be to encourage neighborhood organizations and business firms to engage in neighborhood assistance projects.
(3) The total amount of rebates to business firms approved within any local unit of government shall not exceed 1/2 of the money appropriated to the fund in any fiscal year.
(4) The director shall promulgate rules pursuant to Act No. 306 of the Public Acts of 1969, as amended, being sections 24.201 to 24.315 of the Michigan Compiled Laws, for the administration of the fund.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
Admin Rule:
R 125.601 et seq. of the Michigan Administrative Code.
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.807 - Eligibility of Neighborhood; Rules; Criteria.

125.807 Eligibility of neighborhood; rules; criteria.
Sec. 7.
(1) The department shall promulgate rules pursuant to Act No. 306 of the Public Acts of 1969, as amended, to determine the eligibility of neighborhoods to participate in this program.
(2) The criteria used to certify an eligible neighborhood shall be made on the basis of federal census studies and current indices of local economic and social conditions, which indicate blight or the threat of a deteriorating environment. Criteria used to determine eligibility for a project shall include at least 1 of the following:
(a) Real per capita income growth.
(b) Rate of unemployment.
(c) Declining state equalized valuation within the project area.
(d) Deterioration of the community's social environment.
(e) Number of minority group residents within the project area.
(3) The department periodically shall issue minimum levels for established criteria which applicants shall meet for eligibility.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
Admin Rule:
R 125.601 et seq. of the Michigan Administrative Code.
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.808 - Project Application; Contents.

125.808 Project application; contents.
Sec. 8.
(1) A neighborhood organization requesting project approval shall submit a project application to the director. The application shall include the following:
(a) Proof and certification that:
(i) The neighborhood meets the criteria established in section 7.
(ii) The organization meets the definition of neighborhood organization as provided in section 5.
(b) A detailed project work plan including:
(i) An assessment of the needs and objectives being addressed by the project.
(ii) A description of how the project will meet the stated objectives.
(iii) Letters of commitment from participating business firms, if any.
(iv) Other project details as required by the director.
(c) A detailed project budget including:
(i) Total project cost.
(ii) Project expenses by category of expense item.
(iii) Business contributions to the project cost.
(iv) Justification of administrative costs.
(v) Other budget details as required by the director.
(2) A project application may be for a project life of more than 1 year.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.809 - Project Application; Approval or Disapproval; Review and Comments.

125.809 Project application; approval or disapproval; review and comments.
Sec. 9.
(1) The department shall approve or disapprove a project application within 45 working days after the date of receipt of the application. The decision and the detailed reasons for the approval or disapproval of a proposal shall be in writing, and, if the proposal is approved, the amount of rebates to business firms authorized for use shall be stated.
(2) Upon receipt of the application, the department shall provide a copy of the project application to the local unit of government and the county in which the project will be located for review and comments. Any review and comments of the project shall be returned to the department within 30 working days after receipt of the application. Comments shall include:
(a) Whether the project conflicts with any applicable comprehensive plan.
(b) Verification of the neighborhood organization and business firm submitting the project application.
(c) Other comments as may be considered appropriate.
(3) The department may provide any other person, group, community action agency, or division of federal, state, or local unit of government a copy of the project for review and comment.
(4) The department may approve a project application after 35 working days from receipt of the project application, whether or not comments have been received from a local unit of government, or any person, group, or division of federal, state, or a local unit of government to whom copies of the project application have been provided.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.810 - Certification; Entering Into Project; Project Representative; Professional Assistance.

125.810 Certification; entering into project; project representative; professional assistance.
Sec. 10.
Upon certification by the department, a neighborhood organization may enter into a neighborhood assistance project with 1 or more business firms for the purpose of providing job training, community services, crime prevention, or physical revitalization through a project approved by the department. A business firm may appoint a person as a project representative to the neighborhood organization, or may provide professional assistance to the project upon request from the neighborhood organization.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.811 - Rebate; Reimbursement Form; Amount; Review and Approval; Eligibility; Prohibitions.

125.811 Rebate; reimbursement form; amount; review and approval; eligibility; prohibitions.
Sec. 11.
(1) A business firm shall receive from a neighborhood organization with which it has entered into a neighborhood assistance project a reimbursement form for a rebate. The reimbursement form shall be submitted to the department for an amount not to exceed 50% of the total amount contributed by the business firm to a project approved by the department. The department shall review the reimbursement form and approve the rebate within 30 days after receipt of the form.
(2) A contribution by a business firm shall be eligible for rebate the first year for that portion that exceeds the total contributions by the firm for the project in the previous year.
(3) A rebate shall not be issued to a business firm until after a contribution has been received for a project by the neighborhood organization implementing that project.
(4) A rebate for any specific business firm shall not exceed $50,000.00 for the first year of the neighborhood assistance project. The total amount of the rebate may be increased by not more than $50,000.00 each year for the succeeding 4 years so that in the fifth consecutive year, and each year thereafter, the rebate shall be a maximum of $250,000.00.
(5) A rebate shall not be granted to a bank, insurance company, trust company, building and loan or savings and loan association, or a credit union for activities that are considered a part of its normal course of business.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.812 - Annual Report to Department.

125.812 Annual report to department.
Sec. 12.
A neighborhood organization with projects approved by the department shall submit to the department an annual report not later than 90 days after the close of the project year for each year in which the project is certified. The report shall contain:
(a) An assessment of how the project is attaining the project objectives.
(b) An independent audit of project expenditures.
(c) Any other items that the director requires.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.813 - Annual Report to Legislature.

125.813 Annual report to legislature.
Sec. 13.
The department shall submit to the legislature an annual report not later than 90 days after the close of the fiscal year. The report shall contain:
(a) An assessment of the economic impacts of all projects approved.
(b) An assessment of the social impacts of all projects approved.
(c) A description of and status report on all projects approved.
(d) Total reimbursements authorized and paid.
(e) Any other information that the legislature requires.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 56 of 1980 - Neighborhood Assistance and Participation Act (125.801 - 125.814) › Section 125.814 - Transfer of Duties and Obligations.

125.814 Transfer of duties and obligations.
Sec. 14.
The duties and obligations imposed by this act upon the director and the department, other than by section 13, shall be transferred to, and be vested in, the community development commission after October 1, 1981.
History:
1980, Act 56, Imd. Eff. Apr. 1, 1980
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Repealed - Act 14 of 1946 (1st Ex. Sess.) - Housing Projects for Servicemen (125.871 - 125.872)

HOUSING PROJECTS FOR SERVICEMEN
Act 14 of 1946 (1st Ex. Sess.)
125.871,125.872 Repealed. 1980, Act 180, Imd. Eff. July 2, 1980.
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.901 - Urban Redevelopment Corporations Law; Short Title; Applicability to Townships.

125.901 Urban redevelopment corporations law; short title; applicability to townships.
Sec. 1.
(1) This act shall be known and may be cited as the "urban redevelopment corporations law."
(2) This act applies to townships in the same manner and to the same extent as it applies to cities. However, the development area in a township shall be limited to property that was used for a state office, hospital, prison, institution of higher education, or other state facility.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.901 ;-- Am. 1992, Act 138, Imd. Eff. July 15, 1992
Compiler's Notes:
The catchlines following the act section numbers were incorporated as part of the act as enacted.
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.905 - Supervising Agency; Appointment.

125.905 Supervising agency; appointment.
Sec. 5.
The local legislative body of a city is hereby authorized by general ordinance or local law to appoint, establish or designate the chief financial officer of the city or some other official or bureau, commission or agency as the person or body to exercise the powers and perform the duties held by or incumbent upon a supervising agency pursuant to this act.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.905 ;-- Am. 1968, Act 325, Imd. Eff. July 3, 1968
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.907 - Limitations Imposed Upon Redevelopment Corporations; Limitations.

125.907 Limitations imposed upon redevelopment corporations; limitations.
Sec. 7.
Limitation of redevelopment corporations. No redevelopment corporation shall:
1. Undertake any clearance, reconstruction, improvement, alteration or construction in connection with any development until the certificates of approval required by section 4 of this act have been issued;
2. Change, alter, amend, add to or depart from the development plan within 20 years of the issuance of the certificates of approval required by section 4 of this act, until the planning commission or the supervising agency, as the case may be, has issued a certificate of approval of that portion of such change, alteration, amendment, addition or departure relevant to the determination required to be made by it as set forth in section 4 of this act;
3. After a development has been commenced, sell, transfer or assign any real property in the development area without first obtaining the consent of the supervising agency;
4. Undertake more than 1 development;
5. Pay interest on its income debentures, if any, except out of net earnings which would have been applicable to the payment of dividends on its capital stock if there were no such income debentures;
6. Pay as compensation for services to, or enter into contracts for the payment of compensation for services to, its officers or employees in an amount greater than the limit thereon contained in the development plan, or in default thereof, then in an amount greater than the reasonable value of the services performed or to be performed by such officers or employees;
7. Lease an entire building or improvement in the development area to any person or corporation without obtaining the approval of the supervising agency, which may be withheld only if the lease is being made for the purpose of evading the regulatory provisions of this act;
8. Mortgage any of its real property without obtaining the approval of the supervising agency;
9. Make any guarantee without obtaining the approval of the supervising agency;
10. Dissolve without obtaining the approval of the supervising agency, which may be given upon such conditions as the supervising agency may deem necessary or appropriate to the protection of the interest of the city in the proceeds of the sale of the real property acquired by condemnation as provided in paragraph 3 of section 6 of this act, such approval to be endorsed on the certificate of dissolution and such certificate not to be filed in the department of state in the absence of such endorsement;
11. Reorganize without obtaining the approval of the supervising agency.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.907
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.908 - Corporation Code; Application to Redevelopment Corporations.

125.908 Corporation code; application to redevelopment corporations.
Sec. 8.
Application of other corporation laws to redevelopment corporations. The provisions of the general corporation law as presently in effect and as hereafter from time to time amended, shall apply to redevelopment corporations, except where such provisions are in conflict with the provisions of this act. In the event that any action with respect to which the holders of income debentures shall have the right to vote is proposed to be taken, then notice of any meeting at which such action is proposed to be taken shall be given to such holders in the same manner and to the same extent as if they were stockholders entitled to notice of and to vote at such meeting, and any certificate filed pursuant to law in the department of state with respect to any such action, whether taken with or without meeting, and any affidavit required by law to be annexed to such certificate shall contain the same statements or recitals, and such certificate shall be subscribed and acknowledged, and such affidavit shall be made, in the same manner as if such holders were stockholders holding shares of an additional class of stock entitled to vote on such action, or with respect to the proceedings provided for in such certificate.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.908
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.909 - Consideration for Issuance of Stock, Bond or Debentures.

125.909 Consideration for issuance of stock, bond or debentures.
Sec. 9.
Consideration for issuance of stock, bonds, or income debentures. No redevelopment corporation shall issue stock, bonds or income debentures, except for money or property actually received for the use and lawful purposes of the corporation or services actually performed for the corporation.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.909
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.910 - Determination of Development Cost; Procedure.

125.910 Determination of development cost; procedure.
Sec. 10.
1. Upon the completion of a development, a redevelopment corporation shall, or upon the completion of a principal part of a development, a redevelopment corporation may, file with the supervising agency an audited statement of the development cost thereof. Within a reasonable time after the filing of such statement, the supervising agency shall determine the development cost applicable to the development or such portion thereof and shall issue to the redevelopment corporation a certificate stating the amount thereof as so determined.
2. A redevelopment corporation may, at any time, whether prior or subsequent to the undertaking of any contract or expense, apply to the supervising agency for a ruling as to whether any particular item of cost therein may be included in development cost when finally determined by the supervising agency, and the amount thereof. The supervising agency shall, within a reasonable time after such application, not to exceed 60 days, render a ruling thereon, and in the event that it shall be ruled that any item of cost may be included in development cost, or upon failure of the supervising agency to make such ruling within 60 days, the amount thereof as so determined shall be so included in development cost when finally determined.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.910 ;-- Am. 1968, Act 325, Imd. Eff. July 3, 1968
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.911 - Regulation of Corporation by Supervising Agency.

125.911 Regulation of corporation by supervising agency.
Sec. 11.
Regulation of redevelopment corporations by supervising agency.
A redevelopment corporation shall:
1. Furnish to the supervising agency from time to time, as required by it, but with respect to regular reports not more often than once every 6 months, such financial information, statements, audited reports or other material as such supervising agency shall require, each of which shall conform to such standards of accounting and financial procedure as the supervising agency may by general regulation prescribe.
2. Establish and maintain such depreciation and other reserves, surplus and other accounts as the supervising agency may reasonably require.
3. Any provision of the general corporation law to the contrary notwithstanding, 1 member of the board of directors of a redevelopment corporation shall be a designee of the supervising agency, as long as any of the real property of the redevelopment corporation is entitled to the tax exemption provided for in section 12 of this act.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.911
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.912a - Redevelopment Corporation; Powers and Authority.

125.912a Redevelopment corporation; powers and authority.
Sec. 12a.
Except as otherwise provided in this act, a redevelopment corporation may do all of the following:
(a) Form or incorporate nonprofit corporations under the laws of this state for any purpose not inconsistent with the purposes for which the redevelopment corporation was formed.
(b) Serve as a shareholder or member of a qualified nonprofit corporation organized under the laws of this state.
(c) Authorize, approve, execute, and file with the Michigan department of consumer and industry services those documents that are appropriate to form and continue 1 or more nonprofit corporations.
(d) Form or incorporate for-profit corporations, partnerships, and limited liability companies under the laws of this state for any purpose not inconsistent with the purposes for which the redevelopment corporation was formed.
History:
Add. 1998, Act 385, Imd. Eff. Oct. 23, 1998
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.912b - Redevelopment Corporation; Funds, Grants, Agreements.

125.912b Redevelopment corporation; funds, grants, agreements.
Sec. 12b.
(1) Funds for the operation of a redevelopment corporation may be loaned or granted by the city or township, this state, the federal government, or any agency or political subdivision of this state or the federal government. The city or township, through its local legislative body, may condition the provision of funds to the redevelopment corporation upon an agreement that the redevelopment corporation shall as soon as possible reimburse the city or township for all money expended by it for the redevelopment corporation from revenues received from other sources.
(2) A redevelopment corporation may solicit, accept, and enter into agreements relating to grants from any public or private source, including this state, the federal government, or any agency or political subdivision of this state or the federal government, and may carry out any federal or state program related to the purposes for which the redevelopment corporation is created.
History:
Add. 1998, Act 385, Imd. Eff. Oct. 23, 1998
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.913 - Return on Income Debentures and Stock; Limitations.

125.913 Return on income debentures and stock; limitations.
Sec. 13.
Limited return on income debentures and stock.
1. No redevelopment corporation shall pay any interest on its income debentures or dividends on its stock during any dividend year, unless there shall exist at the time of any such payment no default under any amortization requirements with respect to its indebtedness.
2. No redevelopment corporation shall pay or declare as interest on its income debentures and as dividends on its stock during any dividend year during any portion of which there shall exist pursuant to section 12 of this act any exemption from local taxation on any of its real property, in an amount in excess of the maximum dividend, except as provided in paragraphs 3 and 4 of this section 13.
3. In the event that in any dividend year the maximum exemption period with respect to some of the parcels of real property held by a redevelopment corporation shall have expired, and with respect to some such parcels shall not have expired, then that portion of its net earnings which may be paid or declared as interest on its income debentures and as dividends on its stock during such dividend year shall be determined as follows: Multiply the net earnings of the corporation subject to payment or declaration as such interest or dividends, by a fraction the numerator of which is the total of the maximum assessed valuation of all real property for which the maximum exemption period has not expired and the denominator of which is the total of the maximum assessed valuation of all the real property of the corporation; and the result will be the apportioned net earnings restricted as to payment as such interest or dividends; compute the amount of the maximum dividend as though no apportionment of the same were to be affected and multiply the amount so arrived at by the same fraction; and the result will be the apportioned maximum dividend; only that portion of such apportioned net earnings which does not exceed such apportioned maximum dividend may be paid or declared as such interest or dividends; and that portion of the net earnings obtained by subtracting from total net earnings such apportioned net earnings restricted as to payment as such interest and dividends may be paid or declared without restriction as such interest or dividends.
4. In the event that in any 1 or more prior dividend years the total amount paid or declared as interest on the corporation's income debentures or as dividends on its stock shall have been less than the amounts allowable pursuant to paragraphs 2 and 3 of this section 13, then cumulative interest and dividends equal to the difference may be paid out of any net income applicable thereto in any subsequent dividend year despite the limitation imposed by paragraph 2 of this section 13.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.913
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.914 - Proceedings Against Redevelopment Corporations; Parties.

125.914 Proceedings against redevelopment corporations; parties.
Sec. 14.
Enforcement proceedings against redevelopment corporations. Whenever a redevelopment corporation shall not have obtained the certificates of approval of its development plan required by section 4 of this act within 12 months of the date upon which it became a redevelopment corporation, or shall not have substantially complied with its development plan within the time limits for the completion of each stage thereof as therein stated, reasonable delays caused by unforeseen difficulties excepted, or shall do, permit to be done or fail or omit to do anything contrary to or required of it, as the case may be, by this act, or shall be about so to do, permit to be done or fail or omit to have done, as the case may be, then any such fact may be certified by the planning commission or the supervising agency, whichever shall have supervision thereof, to the chief legal officer of the city, who may thereupon commence a proceeding in the circuit court of the county in which such city is located in its name for the purpose of having such action, failure or omission, or threatened action, failure or omission, established by order of the court for the purpose stated in paragraph 3 of section 6 of this act, or stopped, prevented or otherwise rectified by mandamus, injunction or otherwise. Such proceedings shall be commenced by a petition to the circuit court alleging the violation complained of and praying for appropriate relief. It shall thereupon be the duty of the court to specify the time, not exceeding 20 days after service of a copy of the petition, within which the redevelopment corporation complained of must answer the petition. The court shall, immediately after a default in answering or after answer, as the case may be, inquire into the facts and circumstances in such manner as the court shall direct without other or formal proceedings, and without respect to any technical requirements. Such other persons or corporations as it shall seem to the court necessary or proper to join as parties in order to make its orders or judgment effective may be joined as parties. The final judgment or order in any such action or proceeding shall dismiss the action or proceeding or establish the failure complained of or direct that a mandamus order, or an injunction, or both, issue, or grant such other relief as the court may deem appropriate.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.914
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.915 - Real Estate; Transfer to Redevelopment Corporations.

125.915 Real estate; transfer to redevelopment corporations.
Sec. 15.
Transfer of real property to redevelopment corporation. Notwithstanding any requirement of law to the contrary or the absence of direct provision therefor in the instrument under which a fiduciary is acting, every executor, administrator, trustee, guardian or any other person, holding trust funds or acting in a fiduciary capacity, unless the instrument under which such fiduciary is acting expressly forbids, the state, its subdivisions, cities, all other public bodies, all public officers, corporations organized under or subject to the provisions of the banking law (including savings banks, savings and loan associations, trust companies, private bankers and private banking corporations), the commissioner of the banking department as conservator, liquidator or rehabilitator of any such person, partnership or corporation, persons, partnerships and corporations organized under or subject to the provisions of the insurance law, the commissioner of insurance as conservator, liquidator or rehabilitator of any such person, partnership or corporation, any of which owns or holds any real property within a development area, may grant, sell, lease or otherwise transfer any such real property to a redevelopment corporation, and receive and hold any cash, stocks, income debentures, mortgages, or other securities or obligations, secured or unsecured, exchanged therefor by such redevelopment corporation, and may execute such instruments and do such acts as may be deemed necessary or desirable by them or it and by the redevelopment corporation in connection with the development and the development plan.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.915
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.916 - Acquisition of Real Estate; Methods; Condemnation.

125.916 Acquisition of real estate; methods; condemnation.
Sec. 16.
1. A redevelopment corporation may, whether before or after the certificates of approval of its development plan required by section 4 have been issued, acquire real property or secure options in its own name or in the name of nominees to acquire real property, by gift, grant, lease, purchase or otherwise.
2. A city may, upon request by a redevelopment corporation, and after a certificate of approval of condemnation with respect to the real property in question has been issued pursuant to sections 17 and 17a, acquire, or obligate itself to acquire, for such redevelopment corporation any real property included in such certificate of approval of condemnation, by condemnation. Real property acquired by a city for a redevelopment corporation shall be conveyed by such city to the redevelopment corporation upon payment to the city of all sums expended or required to be expended by the city in the acquisition of such real property, together with all costs which may have been incurred by the city.
3. The provisions of this act with respect to the condemnation of real property by a city for a redevelopment corporation shall prevail over the provisions of any other general, special or local law.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.916 ;-- Am. 1968, Act 325, Imd. Eff. July 3, 1968
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.917a - Condemnation, Law Applicable.

125.917a Condemnation, law applicable.
Sec. 17a.
Notwithstanding the provisions of section 17, condemnation proceedings under this act shall be pursuant to Act No. 149 of the Public Acts of 1911, as amended, being sections 213.21 to 213.41 of the Compiled Laws of 1948.
History:
Add. 1968, Act 325, Imd. Eff. July 3, 1968
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.918 - Leasing of Property of Corporation; Termination of Tenancy.

125.918 Leasing of property of corporation; termination of tenancy.
Sec. 18.
Temporary use or occupation of real property taken by condemnation. When title to real property has vested in a redevelopment corporation or city by gift, grant, devise, purchase or in condemnation proceedings or otherwise, the redevelopment corporation or city, as the case may be, may agree with the previous owners of such property, or any tenants continuing to occupy or use it, or any other persons who may occupy or use or seek to occupy or use such property, that such former owner, tenant or other persons may occupy or use such property upon the payment of a fixed sum of money for a definite term or upon the payment periodically of an agreed sum of money. Such occupation or use shall not be construed as a tenancy from month to month, nor require the giving of notice by the redevelopment corporation or the city, as the case may be, for the termination of such occupation or use or the right to such occupation or use, but immediately upon the expiration of the term for which payment has been made the redevelopment corporation or city, as the case may be, shall be entitled to possession of the real property and may maintain summary proceedings, obtain a writ of assistance, and shall be entitled to such other remedy as may be provided by law for obtaining immediate possession thereof. A former owner, tenant or other person occupying or using such property shall not be required to give notice to the redevelopment corporation or city, as the case may be, at the expiration of the term for which he has made payment for such occupation or use, as a condition to his cessation of occupation or use and termination of liability therefor.
In the event that a city has acquired real property for a redevelopment corporation, the city shall, in transferring title to the redevelopment corporation, deduct from the consideration or other moneys which the redevelopment corporation has become obligated to pay to the city for such purpose, and credit the redevelopment corporation with the amounts received by the city as payment for temporary occupation and use of the real property by a former owner, tenant, or other person, as in this section 18 provided, less the cost and expense incurred by the city for the maintenance and operation of such real property.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.918
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.919 - Mortgages of Corporation; Provisions Governing.

125.919 Mortgages of corporation; provisions governing.
Sec. 19.
Mortgages.
1. Any redevelopment corporation may borrow funds and secure the repayment thereof by mortgage. Every such mortgage shall contain reasonable amortization provisions and shall be a lien upon no other real property except that forming the whole or a part of a single development area.
2. Certificates, bonds and notes, or part interests therein, or any part of an issue thereof, which are secured by a first mortgage on the real property in a development area, or any part thereof, shall be securities in which all the following persons, partnerships or corporations and public bodies or public officers may legally invest the funds within their control: Provided, That the principal amount secured by such mortgage shall not exceed the limits, if any, imposed by law for such investments by the person, partnership, corporation, public body or public officer making the same:
Every executor, administrator, trustee, guardian, committee or other person or corporation holding trust funds or acting in a fiduciary capacity; the state, its subdivisions, cities, all other public bodies, all public officers; persons, partnerships and corporations organized under or subject to the provisions of the banking law (including savings banks, savings and loan associations, trust companies, private bankers and private banking corporations); the commissioner of the banking department as conservator, liquidator or rehabilitator of any such person, partnership or corporation; persons, partnerships or corporations organized under or subject to the provisions of the insurance law; fraternal benefit societies; and the commissioner of insurance as conservator, liquidator or rehabilitator of any such person, partnership or corporation.
3. Any mortgage on the real property in a development area, or any part thereof, may create a first lien, or a second or other junior lien, upon such real property.
4. The limits as to principal amount secured by mortgage referred to in paragraph 2 of this section 19 shall not apply to certificates, bonds and notes, or part interests therein, or any part of an issue thereof, which are secured by first mortgage on real property in a development area, or any part thereof, which the federal housing administrator has insured or has made a commitment to insure under the national housing act. Any such person, partnership, corporation, public body or public officer may receive and hold any debentures, certificates or other instruments issued or delivered by the federal housing administrator, pursuant to the national housing act, in compliance with the contract of insurance of a mortgage on real property in the development area, or any part thereof.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.919
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.920 - Sale or Lease of Real Estate by a City to Corporation.

125.920 Sale or lease of real estate by a city to corporation.
Sec. 20.
Sale or lease of real property by a city to a redevelopment corporation.
1. The local legislative body may by resolution determine that real property, title to which is held by the city, specified and described in such resolution, is not required for use by the city and may authorize the city to convey, sell, or lease such real property to a redevelopment corporation: Provided, however, That the title of the city to such real property be not declared inalienable by charter of the city, or other similar law or instrument.
2. Notwithstanding the provisions of any general, special or local law or ordinance, such sale or lease may be made without appraisal, public notice or public bidding for such price or rental and upon such terms (and, in case of a lease, for such term not exceeding 50 years with a right to 1 renewal term of 30 years) as may be agreed upon between the city and the redevelopment corporation.
3. Before any sale or lease to a redevelopment corporation shall be authorized, a public hearing shall be held by the local legislative body to consider the proposed sale or lease.
4. Notice of such hearing shall be published at least 10 days before the date set for the hearing in such publication and in such manner as may be designated by the local legislative body.
5. The deed or lease of such real property shall be executed in the same manner as a deed or lease by the city of other real property owned by it and may contain appropriate conditions and provisions to enable the city to reenter the real property in the event of a violation by the redevelopment corporation of any of the provisions of this act relating to such redevelopment corporation or of the conditions or provisions of such deed or lease.
6. A redevelopment corporation purchasing or leasing real property from a city shall not, without the written approval of the city, use such real property for any purpose except in connection with its development. The deed shall contain a condition that the redevelopment corporation will devote the real property granted only for the purposes of its development subject to the restrictions of this act, for each of which the city shall have the right to reenter and repossess itself of the real property.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.920
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.921 - Provisions of Lease.

125.921 Provisions of lease.
Sec. 21.
Provisions of lease.
If real property of a city be leased to a redevelopment corporation:
(1) The lease may provide that all improvements shall be the property of the lessor;
(2) The lessor may grant to the redevelopment corporation the right to mortgage the fee of such property and thus enable the redevelopment corporation to give as security for its notes or bonds a first lien upon the land and improvements;
(3) The execution of a lease shall not impose upon the lessor any liability or obligation in connection with or arising out of the financing, construction, management or operation of a development involving the land so leased. The lessor shall not, by executing such lease, incur any obligation or liability with respect to such leased premises other than may devolve upon the lessor with respect to premises not owned by it. The lessor, by consenting to the execution by a redevelopment corporation of a mortgage upon the leased land, shall not thereby assume, and such consent shall not be construed as imposing upon the lessor, any liability upon the note or bond secured by the mortgage;
(4) The lease may reserve such easements or other rights in connection with the real property as may be deemed necessary or desirable for the future planning and development of the city and the extension of public facilities therein (including the construction of subways and conduits, the widening and change of grades of streets); and it may contain such other provisions for the protection of the parties as are not inconsistent with the provisions of this act.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.921
2023 Michigan Compiled Laws › Chapter 125 - Planning, Housing, and Zoning › Act 250 of 1941 - Urban Redevelopment Corporations Law (125.901 - 125.922) › Section 125.922 - Construction of Act.

125.922 Construction of act.
Sec. 22.
Construction. This act shall be construed liberally to effectuate the purposes hereof, and the enumeration of specific powers in this act shall not operate to restrict the meaning of any general grant of power contained in this act or to exclude other powers comprehended in such general grant.
History:
1941, Act 250, Imd. Eff. June 16, 1941 ;-- CL 1948, 125.922