Michigan Laws 125.2730 – Legal ownership by resident organization or successor entity; effect on residents who do not become owners
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(1) Residents of the housing project who resided in the housing project before the resident organization or successor entity took legal ownership may continue to reside in the premises under the same terms and conditions as when the property was owned by the housing commission.
(2) The Michigan state housing development authority may request the federal government to provide housing vouchers for residents who do not become owners.
Terms Used In Michigan Laws 125.2730
- Housing commission: means a housing commission or housing authority as defined under section 3 of the housing cooperation law, 1937 PA 293, MCL 125. See Michigan Laws 125.2722
- Housing project: means that term as defined under section 3 of the housing cooperation law, 1937 PA 293, MCL 125. See Michigan Laws 125.2722
- Michigan state housing development authority: means the Michigan state housing development authority created under section 21 of the state housing development authority act of 1966, 1966 PA 346, MCL 125. See Michigan Laws 125.2722
- Resident organization: means a group of residents made up of not less than 50% of total residents of the specific housing project who contract with a housing commission to manage that housing project for not less than 5 years with the intent to acquire legal ownership of the housing project under this act. See Michigan Laws 125.2722