Empowerment Zone Development Corporation Act (Excerpt) Act 75 Of 1995


Published: 2015

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EMPOWERMENT ZONE DEVELOPMENT CORPORATION ACT (EXCERPT)
Act 75 of 1995

125.2565 Definitions.

Sec. 5.

As used in this act:

(a) “Board” means the board of directors of an empowerment zone development corporation.

(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.


History: 1995, Act 75, Imd. Eff. June 13, 1995

© 2015 Legislative Council, State of Michigan