Michigan Laws 125.4417 – Development plan or tax increment financing plan as constituting public purpose; approval or rejection; considerations; amendments; procedure, notice, findings, and amendment as conclusive; contest
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Terms Used In Michigan Laws 125.4417
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assessed value: means 1 of the following:
(i) For valuations made before January 1, 1995, the state equalized valuation as determined under the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 125.4402Authority: means a local development finance authority created pursuant to this part. See Michigan Laws 125.4402 Captured assessed value: means the amount in any 1 year by which the current assessed value of the eligible property identified in the tax increment financing plan or, for a certified technology park, a certified alternative energy park, or a Next Michigan development area, the real and personal property included in the tax increment financing plan, including the current assessed value of property for which specific local taxes are paid in lieu of property taxes as determined pursuant to subdivision (hh), exceeds the initial assessed value. See Michigan Laws 125.4402 Development plan: means that information and those requirements for a development set forth in section 415. See Michigan Laws 125.4402 Governing body: means , except as otherwise provided in this subdivision, the elected body having legislative powers of a municipality creating an authority under this part. See Michigan Laws 125.4402 Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Municipality: means a city, village, or urban township. See Michigan Laws 125.4402 Public facility: means 1 or more of the following:
(i) A street, road, bridge, storm water or sanitary sewer, sewage treatment facility, facility designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, retention basin, pretreatment facility, waterway, waterline, water storage facility, rail line, electric, gas, telephone or other communications, or any other type of utility line or pipeline, transit-oriented facility, transit-oriented development, or other similar or related structure or improvement, together with necessary easements for the structure or improvement. See Michigan Laws 125.4402Tax increment revenues: means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of eligible property within the district or, for purposes of a certified technology park, a Next Michigan development area, or a certified alternative energy park, real or personal property that is located within the certified technology park, a Next Michigan development area, or a certified alternative energy park and included within the tax increment financing plan, subject to the following requirements:
(i) Tax increment revenues include ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions, other than the state pursuant to the state education tax act, 1993 PA 331, MCL 211. See Michigan Laws 125.4402
(1) After a public hearing on the development plan or the tax increment financing plan, or both, with notice of the hearing given pursuant to section 416, the governing body shall determine whether the development plan or tax increment financing plan, or both, constitutes a public purpose. If the governing body determines that the development plan or tax increment financing plan, or both, constitutes a public purpose, the governing body may then approve or reject the plan, or approve it with modification, by resolution, based on the following considerations:
(a) Whether the development plan meets the requirements set forth in section 415(2) and the tax increment financing plan meets the requirements set forth in section 412(1), (2), and (3).
(b) Whether the proposed method of financing the public facility or facilities is feasible and the authority has the ability to arrange the financing.
(c) Whether the development is reasonable and necessary to carry out the purposes of this part.
(d) Whether the amount of captured assessed value estimated to result from adoption of the plan is reasonable.
(e) Whether the land to be acquired under the development plan is reasonably necessary to carry out the purposes of the plan and the purposes of this part.
(f) Whether the development plan is in reasonable accord with the approved master plan of the municipality, if an approved master plan exists.
(g) Whether public services, such as fire and police protection and utilities, are or will be adequate to service the property.
(h) Whether changes in zoning, streets, street levels, intersections, and utilities are reasonably necessary for the project and for the municipality.
(2) Except as provided in this subsection, amendments to an approved development plan or tax increment plan must be submitted by the authority to the governing body for approval or rejection following the same notice and public hearing provisions that are necessary for approval or rejection of the original plan. Notice and hearing shall not be necessary for revisions in the estimates of captured assessed value and tax increment revenues.
(3) The procedure, adequacy of notice, and findings with respect to purpose and captured assessed value shall be conclusive unless contested in a court of competent jurisdiction within 60 days after adoption of the resolution adopting the plan. An amendment, adopted by resolution, to a conclusive plan shall likewise be conclusive unless contested within 60 days after adoption of the resolution adopting the amendment. If a resolution adopting an amendment to the plan is contested, the resolution adopting the plan is not open to contest.