Michigan Laws 125.2605 – Definitions
Current as of: 2023 | Check for updates
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As used in this act:
(a) “Board” means the board of directors of an enterprise community development corporation.
Terms Used In Michigan Laws 125.2605
- Board: means the board of directors of an enterprise community development corporation. See Michigan Laws 125.2605
- Corporation: means an enterprise community development corporation organized under this act. See Michigan Laws 125.2605
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Enterprise community: means an area designated as an enterprise community by the United States department of housing and urban development or the United States department of agriculture. See Michigan Laws 125.2605
- Municipality: means a county, city, village, or township. See Michigan Laws 125.2605
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Strategic plan: means a plan agreed to by this state and a municipality concerning an enterprise community that includes both of the following:
(i) Certification of the authority to adopt a strategic plan in an application for nomination as an enterprise community under applicable federal regulations. See Michigan Laws 125.2605United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) “Chief executive officer” means the mayor or city manager of a city, the president of a village, the supervisor of a township, or the county executive of a county or, if a county does not have a county executive, the chairperson of the county board of commissioners.
(c) “Corporation” means an enterprise community development corporation organized under this act.
(d) “Enterprise community” means an area designated as an enterprise community by the United States department of housing and urban development or the United States department of agriculture.
(e) “Governing body” means the body in which the legislative powers of a municipality are vested.
(f) “Municipality” means a county, city, village, or township.
(g) “Strategic plan” means a plan agreed to by this state and a municipality concerning an enterprise community that includes both of the following:
(i) Certification of the authority to adopt a strategic plan in an application for nomination as an enterprise community under applicable federal regulations.
(ii) A written commitment of this state and the municipality to adhere to the plan.
(h) “Substantial interest” means 1 or more of the following:
(i) Owning real property or a business located in the enterprise community.
(ii) Having a substantial demonstrable interest in real property or in a business located in the enterprise community.
(iii) Engaging in activities to improve the social and economic conditions of the enterprise community.