Mich. Comp. Laws § 125.1571
Short title.
This act shall be known and may be cited as the "Michigan business incubation act".
Michigan Compiled Laws — MICHIGAN BUSINESS INCUBATION ACT (Act 198 of 1984)
Michigan · statute · 198 of 1984, Mich. Comp. Laws · 16 active provisions
Mich. Comp. Laws § 125.1572
Definitions.
As used in this act: (a) "Business incubation center" or "center" means a building described in section 3. (b) "Community board" or "board" means a board created pursuant to section 4. (c) "Department" means the department of commerce. (d) "Educational institution" means a local school district, an intermediate school…
Mich. Comp. Laws § 125.1573
Designation of business incubation centers; purpose; title to or lease of building; priority of proposals.
(1) Upon receipt of a petition from a community board pursuant to section 5, the department shall designate, in whole or in part, not more than 10 vacant or nearly vacant buildings as business incubation centers for the purpose of encouraging and assisting, as described in this act, the establishment and expansion of s…
Mich. Comp. Laws § 125.1574
Community board; appointment or designation; membership; chairperson; compensation prohibited; terms; conducting business at public meeting; notice; availability of writings to public; disclosing matters of proprietary nature.
(1) A local governmental unit or educational institution or other organization that desires to have a vacant or nearly vacant building designated, in whole or in part, as a business incubation center shall appoint, in conjunction with local governmental units or private organizations that agree to contribute monetarily…
Mich. Comp. Laws § 125.1575
Community board; duties; petition for designation.
(1) Upon appointment, the community board shall do all of the following: (a) Identify the building or part of the building under consideration for designation as a business incubation center. (b) Advertise the concept of a business incubation center in the surrounding area. (c) Solicit the views of the community concer…
Mich. Comp. Laws § 125.1576
Feasibility study; factors; notice of decision; reapplication or designation.
(1) After filing a petition pursuant to section 5, the community board, in cooperation with the department, shall conduct and complete within 180 calendar days an in-depth center feasibility study. The study shall include, but not be limited to, all of the following factors: (a) Necessary lease, purchase, renovation, o…
Mich. Comp. Laws § 125.1577
Period of designation; return of building to previous state; notification; publicizing closing date.
(1) Except as provided in subsection (2), a designation of a building as a business incubation center shall remain in effect for 15 years unless otherwise agreed to at any time during the period of designation by the department and a community board. (2) A local governmental unit or educational institution that has a b…
Mich. Comp. Laws § 125.1578
Application to start or expand small business in business incubation center; contents; waiver for existing business.
(1) When a building is designated as a business incubation center by the department, its community board shall accept applications from persons desiring to start or expand a small business and to locate that business within a business incubation center. The application, developed by the department, shall elicit, at a m…
Mich. Comp. Laws § 125.1579
Evaluation of applicants; factors; notice of rejection; notice of favorable evaluation.
(1) A community board shall evaluate applicants who want to start or expand a small business and to locate within the business incubation center based upon, but not limited to, all of the following factors: (a) The likelihood that the business will be profitable. (b) Whether the product that would be manufactured, or t…
Mich. Comp. Laws § 125.1580
Report; hiring management consultants or contracting with management consulting firm.
(1) A community board shall report in writing at least annually to the department on the activities of the board and the center. The report shall include, at minimum, the name of each applicant whose application it rejects, together with the reasons for the rejection, and the name of each applicant whose application it…
Mich. Comp. Laws § 125.1581
Lessee of business incubation center; duties.
A lessee of a business incubation center shall do all of the following: (a) Pay rent, which amount shall be determined by the board. The board may agree to have the rent for a predetermined number of months payable at a later date by which time the business is expected to have received committed starting capital. (b) P…
Mich. Comp. Laws § 125.1582
Lessee benefits.
(1) In return for his or her monthly rent, a lessee of a business incubation center shall receive the following benefits: (a) Physical space within the center. (b) The services of a building management consultant or management consulting firm. (c) Services or facilities available within the center that are agreed upon…
Mich. Comp. Laws § 125.1583
Powers and duties of department generally.
(1) The department shall work closely with business incubation centers, offering advice and assistance when possible, and shall promote, through advertising and other appropriate means, the concept and benefits of business incubation centers and their availability. (2) The department shall cooperate with community boar…
Mich. Comp. Laws § 125.1584
Administration of state funding.
(1) The department shall administer state funding for the centers it designates. (2) During the first 3 years of operation, the department shall provide funding for any designated center up to 50% of the costs of establishment and maintenance that are not covered by rental fees. The department shall not provide any sta…
Mich. Comp. Laws § 125.1585
Annual appropriation.
The legislature annually shall appropriate a sum sufficient to implement this act.
Mich. Comp. Laws § 125.1586
Reports.
The department shall submit to the senate and house committees that have the responsibility for economic development matters 2 reports covering the effectiveness of this act, the number of applicants who were accepted into business incubation centers, and the number of such businesses in operation at the time of the wr…