Mich. Comp. Laws § 125.2601
Short title.
This act shall be known and may be cited as the "enterprise community development corporation act".
Michigan Compiled Laws — ENTERPRISE COMMUNITY DEVELOPMENT CORPORATION ACT (Act 123 of 1995)
Michigan · statute · 123 of 1995, Mich. Comp. Laws · 16 active provisions
Mich. Comp. Laws § 125.2603
Legislative findings.
There exists in this state the continuing need for programs to alleviate and prevent conditions of long-term unemployment, economic distress, and accompanying social ills. Accordingly, the legislature finds that in order to stimulate the creation of new jobs and to promote the revitalization of distressed areas, it is…
Mich. Comp. Laws § 125.2605
Definitions.
As used in this act: (a) "Board" means the board of directors of an enterprise community 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…
Mich. Comp. Laws § 125.2607
Enterprise community development corporation; application for incorporation; notice; public hearing; process for approving articles of incorporation and bylaws.
(1) A written application may be made by not less than 3 persons to the governing body of a municipality with a population of less than 900,000 for permission to incorporate an enterprise community development corporation on behalf of the municipality. The application shall include proposed articles of incorporation an…
Mich. Comp. Laws § 125.2609
Articles of incorporation; filing; validity.
(1) If the governing body approves both the application to incorporate the corporation and the articles of incorporation, the clerk of the municipality shall file the original of the articles of incorporation with the department of commerce and 1 copy in his or her office after certifying that the copy is a true and ac…
Mich. Comp. Laws § 125.2611
Incorporation of more than 1 corporation prohibited.
A municipality shall not approve incorporation of more than 1 corporation under this act.
Mich. Comp. Laws § 125.2613
Board of directors; determination of size and composition by ordinance; appointment; removal; qualifications, selection, vacancy, number, and demographic diversity of members; executive committee; neighborhood review panel; employment of executive director and staff.
(1) The size and composition of the board shall be determined by an ordinance of the municipality. In a municipality with a population of 900,000 or more, 60% of the board members shall live or work in the enterprise community as prescribed in an ordinance of the municipality, and 40% of the board members need not be r…
Mich. Comp. Laws § 125.2615
Board of directors; appointment; terms; expiration of term; compensation and expenses.
(1) The board of directors shall be appointed for staggered terms as prescribed by an ordinance of the municipality. (2) A director whose term of office has expired shall continue to hold office until the chief executive officer appoints the director's successor, with the approval of the municipality's governing body.…
Mich. Comp. Laws § 125.2617
Disclosure of interest in matter before corporation.
A director who has either a direct or indirect interest in a matter before the corporation shall disclose that interest before the corporation takes action on the matter. This disclosure shall be made a part of the record of the corporation's official proceedings and the interested director shall refrain from participa…
Mich. Comp. Laws § 125.2619
Board of directors; quorum.
The number of board members required to make a quorum for the transaction of corporation business shall be prescribed by an ordinance of the municipality.
Mich. Comp. Laws § 125.2621
Corporation; powers and duties.
(1) The corporation has the powers and duties to do all of the following: (a) Coordinate, review, recommend prioritization of, monitor, and evaluate the programs of the agencies implementing the strategic plan to ensure the achievement of benchmarks and timetables as detailed in that strategic plan. (b) Solicit and acc…
Mich. Comp. Laws § 125.2623
Corporation; dissolution.
(1) A corporation that completes the duties enumerated in section 21(1)(a) shall be dissolved by the adoption of a resolution by a majority of 2/3 of the members of the board of directors. The resolution shall be approved by a majority of the members of the governing body of the municipality. After approval of the reso…
Mich. Comp. Laws § 125.2625
Imposition of sanctions; basis; approval.
The chief executive officer of the municipality may impose sanctions upon the corporation based on periodic performance reviews as prescribed by an ordinance of the municipality and with the approval of the governing body of the municipality.
Mich. Comp. Laws § 125.2627
Proceedings under powers of eminent domain; taking and transfer of property; terms and conditions.
In order to accomplish the purposes of this act, a municipality may institute and prosecute proceedings under its powers of eminent domain in accordance with state law or local charter. The taking and transfer of public and private property by the municipality for use in a project set forth in a strategic plan may be o…
Mich. Comp. Laws § 125.2629
Construction of act.
This act shall be liberally construed to effectuate its purposes.
Mich. Comp. Laws § 125.2631
Authority of act in addition to power of municipality.
The authority given by this act shall be in addition to and not in derogation of the power of a municipality existing under statutory or charter provisions.