Michigan Laws 125.2565 – 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 empowerment zone development corporation.
Terms Used In Michigan Laws 125.2565
- Board: means the board of directors of an empowerment zone development corporation. See Michigan Laws 125.2565
- 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. See Michigan Laws 125.2565
- Corporation: means an empowerment zone development corporation organized under this act. See Michigan Laws 125.2565
- 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.
- Empowerment zone: means an area designated as an empowerment zone by the United States department of housing and urban development. See Michigan Laws 125.2565
- Municipality: means a county, city, village, or township. See Michigan Laws 125.2565
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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 empowerment zone that includes both of the following:
(i) Certification of the authority to adopt a strategic plan in an application for nomination as an empowerment zone under applicable federal regulations. See Michigan Laws 125.2565United 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 empowerment zone development corporation organized under this act.
(d) “Empowerment zone” means an area designated as an empowerment zone by the United States department of housing and urban development.
(e) “Empowerment zone coordinating council” means a community-based partnership initiated by the chief executive officer of a municipality with a population of 900,000 or more to do all of the following:
(i) Develop a strategic plan in accordance with 24 C.F.R. § 597.3.
(ii) Incorporate an empowerment zone development corporation under this act on behalf of the municipality.
(iii) Recommend initial candidates for appointment to the corporation’s board of directors.
(f) “Governing body” means the body in which the legislative powers of a municipality are vested.
(g) “Municipality” means a county, city, village, or township.
(h) “Strategic plan” means a plan agreed to by this state and a municipality concerning an empowerment zone that includes both of the following:
(i) Certification of the authority to adopt a strategic plan in an application for nomination as an empowerment zone under applicable federal regulations.
(ii) A written commitment of this state and the municipality to adhere to the plan.
(i) “Substantial interest” means 1 or more of the following:
(i) Owning real property or a business located in the empowerment zone.
(ii) Having a substantial demonstrable interest in real property or in a business located in the empowerment zone.
(iii) Engaging in activities to improve the social and economic conditions of the empowerment zone.
(iv) Making a significant commitment to the empowerment zone by providing financial or in-kind resources.