Michigan Laws > Chapter 125 > Act 270 of 1984 > Chapter 8C
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws > Chapter 125 > Act 270 of 1984 > Chapter 8C
- Agricultural labor camp: means a tract of land and all tents, vehicles, buildings, or other structures pertaining thereto, part of which is established, occupied, or used as living quarters for 5 or more migratory laborers engaged in agricultural activities, including related food processing. See Michigan Laws 333.12401
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- blighted property: means property that meets any of the following criteria:
(A) Has been declared a public nuisance in accordance with a local housing, building, plumbing, fire, or other related code or ordinance. See Michigan Laws 125.2090aBoard: means the board of directors of the Michigan strategic fund, except where the context clearly requires a different definition. See Michigan Laws 125.2004 Community revitalization incentive: means a community revitalization grant, a community revitalization loan, or other economic assistance. See Michigan Laws 125.2090a Contract: A legal written agreement that becomes binding when signed. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Eligible investment: means 1 or more of the following, subject to a written agreement under this section, including investment that occurred prior to the approval of the application, to the extent that the project has not been completely reimbursed to or been paid for on behalf of the person requesting a community revitalization incentive under this chapter:
(i) Any demolition, construction, alteration, rehabilitation, or improvement of buildings. See Michigan Laws 125.2090aEligible property: means property that meets 1 or more of the following conditions:
(i) Is determined to be a facility. See Michigan Laws 125.2090afacility: means that term as defined in section 2 of the brownfield redevelopment financing act, 1996 PA 381, MCL 125. See Michigan Laws 125.2090a Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. functionally obsolete: means that the property is unable to be used to adequately perform the function for which it was intended due to a substantial loss in value resulting from factors such as overcapacity, changes in technology, deficiencies or superadequacies in design, or other similar factors that affect the property itself or the property's relationship with other surrounding property as determined by a Michigan advanced assessing officer or a Michigan master assessing officer. See Michigan Laws 125.2090a Fund: means the Michigan strategic fund created under section 5, except where the context clearly requires a different definition. See Michigan Laws 125.2004 grant: means a grant that is approved under section 90b and that is subject to requirements in section 90c. See Michigan Laws 125.2090a historic resource: means a publicly or privately owned historic building, structure, site, object, feature, or open space either manmade or natural, individually listed or located within and contributing to a historic district designated by the national register of historic places, the state register of historic sites, or a local unit acting under the local historic districts act, 1970 PA 169, MCL 399. See Michigan Laws 125.2090a loan: means a loan that is approved under section 90b and that is subject to the requirements in section 90d. See Michigan Laws 125.2090a MEDC: means the Michigan economic development corporation, the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124. See Michigan Laws 125.2004 Neighborhood and commercial corridor food initiative: means property that will be used primarily as a retail supermarket, grocery store, produce market, or delicatessen that is located in a downtown area or in a development area as defined in section 2 of the corridor improvement authority act, 2005 PA 280, MCL 125. See Michigan Laws 125.2090a Other economic assistance: means any other form of assistance allowed under this act that is not a community revitalization loan or community revitalization grant. See Michigan Laws 125.2090a Person: means an individual, sole proprietorship, partnership, limited partnership, limited liability partnership, limited liability company, joint venture, profit or nonprofit corporation including a public or private college or university, public utility, municipality, local industrial development corporation, economic development corporation, other association of persons organized for agricultural, commercial, or industrial purposes, a lender, or any other entity approved by the board. See Michigan Laws 125.2004 Person: means a person as defined in section 1106 or a governmental entity. See Michigan Laws 333.12401 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Private sector: means other than the fund, a state or federal source, or an agency of a state or the federal government. See Michigan Laws 125.2004 Project: means an economic development project and, in addition, means the acquisition, construction, reconstruction, conversion, or leasing of an industrial, commercial, retail, agricultural, or forestry enterprise, or any part of these, to carry out the purposes and objectives of this act and of the fund, including, but not limited to, acquisition of land or interest in land, buildings, structures, or other planned or existing planned improvements to land including leasehold improvements, machinery, equipment, or furnishings which include, but are not limited to, the following: research parks; office facilities; engineering facilities; research and development laboratories; warehousing facilities; parts distribution facilities; depots or storage facilities; port facilities; railroad facilities, including trackage, right of way, and appurtenances; airports; bridges and bridge facilities; water and air pollution control equipment or waste disposal facilities; theme or recreational parks; equipment or facilities designed to produce energy from renewable resources; farms, ranches, forests, and other agricultural or forestry commodity producers; agricultural harvesting, storage, transportation, or processing facilities or equipment; grain elevators; shipping heads and livestock pens; livestock; warehouses; wharves and dock facilities; dredging of recreational or commercial harbors; water, electricity, hydro electric, coal, petroleum, or natural gas provision facilities; dams and irrigation facilities; sewage, liquid, and solid waste collection, disposal treatment, and drainage services and facilities. See Michigan Laws 125.2004 Remodeling: means the remodeling, improving, or reconstruction of existing housing or facilities which are incidental or appurtenant thereto for migratory laborers or the construction of new housing or facilities which are incidental or appurtenant thereto for migratory laborers. See Michigan Laws 333.12401 seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nshall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o United States: shall be construed to include the district and territories. See Michigan Laws 8.3o