Michigan Laws 125.4219 – Development plan or tax increment financing plan as constituting public purpose; determination; ordinance; considerations; amendments; incorporation of catalyst development project plan
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 125.4219
- Authority: means a downtown development authority created pursuant to this part. See Michigan Laws 125.4201
- Catalyst development project: means a project that is located in a municipality with a population greater than 600,000, is designated by the authority as a catalyst development project, and is expected to result in at least $300,000,000. See Michigan Laws 125.4201
- Development area: means that area to which a development plan is applicable. See Michigan Laws 125.4201
- Development plan: means that information and those requirements for a development plan set forth in section 217. See Michigan Laws 125.4201
- Municipality: means a city, village, or township. See Michigan Laws 125.4201
(1) The governing body after a public hearing on the development plan or the tax increment financing plan, or both, with notice of the hearing given in accordance with section 218, shall determine whether the development plan or tax increment financing plan constitutes a public purpose. If it determines that the development plan or tax increment financing plan constitutes a public purpose, it shall then approve or reject the plan, or approve it with modification, by ordinance based on the following considerations:
(a) The findings and recommendations of a development area citizens council, if a development area citizens council was formed.
(b) The plan meets the requirements set forth in section 217(2).
(c) The proposed method of financing the development is feasible and the authority has the ability to arrange the financing.
(d) The development is reasonable and necessary to carry out the purposes of this part.
(e) The land included within the development area to be acquired is reasonably necessary to carry out the purposes of the plan and of this part in an efficient and economically satisfactory manner.
(f) The development plan is in reasonable accord with the master plan of the municipality.
(g) Public services, such as fire and police protection and utilities, are or will be adequate to service the project area.
(h) Changes in zoning, streets, street levels, intersections, and utilities are reasonably necessary for the project and for the municipality.
(2) Amendments to an approved development plan or tax increment plan must be submitted by the authority to the governing body for approval or rejection.
(3) Proposed amendments made to an approved development plan to incorporate a catalyst development project plan shall be submitted by the authority to the Michigan strategic fund for approval or rejection of that part of the plan relating to the catalyst development project. Amendments not approved or rejected under this subsection by the Michigan strategic fund within 45 days of submission for approval shall be considered approved.