Michigan Laws 125.990a – Business improvement zone as public body corporate; powers; authority
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Terms Used In Michigan Laws 125.990a
- Assessment: means an assessment imposed under this chapter against assessable property for the benefit of the property owners. See Michigan Laws 125.990
- Assessment revenue: means the money collected by a business improvement zone from any assessments, including any interest on the assessments. See Michigan Laws 125.990
- Business improvement zone: means a business improvement zone created under this chapter. See Michigan Laws 125.990
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Nonprofit corporation: means a nonprofit corporation organized under the nonprofit corporation act, 1982 PA 162, MCL 450. See Michigan Laws 125.990
- Personal property: All property that is not real property.
- Qualifying period: means the period in which a business improvement zone is authorized to operate and impose and collect assessments, beginning on the date that the business improvement zone is approved by the property owners voting on the question as provided in section 10f and ending 7 to 10 calendar years after that date as determined in the petition described in section 10c. See Michigan Laws 125.990
- 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
- Zone area: means the area designated in the zone plan as the area to be served by the business improvement zone. See Michigan Laws 125.990
- Zone plan: means a set of goals, strategies, objectives, and guidelines for the operation of a business improvement zone. See Michigan Laws 125.990
(1) A business improvement zone is a public body corporate and may do 1 or more of the following for the benefit of property owners located in the business improvement zone:
(a) Acquire, through purchase, lease, or gift, construct, develop, improve, maintain, operate, or reconstruct park areas, planting areas, and related facilities within the zone area.
(b) Acquire, construct, clean, improve, maintain, reconstruct, or relocate sidewalks, street curbing, street medians, fountains, and lighting within the zone area.
(c) Develop and propose lighting standards within the zone area.
(d) Acquire, plant, and maintain trees, shrubs, flowers, or other vegetation within the zone area.
(e) Provide or contract for security services with other public or private entities and purchase equipment or technology related to security services within the zone area.
(f) Promote and sponsor cultural or recreational activities.
(g) Engage in economic development activities, including, but not limited to, promotion of business, retail, or industrial development, developer recruitment, business recruitment, business marketing, business retention, public relations efforts, and market research.
(h) Engage in other activities with the purpose to enhance the economic prosperity, enjoyment, appearance, image, and safety of the zone area.
(i) Acquire by purchase or gift, maintain, or operate real or personal property necessary to implement this chapter.
(j) Solicit and accept gifts or grants to further the zone plan.
(k) Sue or be sued.
(l) Do all other acts and things necessary or convenient to exercise the powers, duties, and jurisdictions of the business improvement zone under this act or other laws that relate to the purposes, powers, duties, and jurisdictions of the business improvement zone.
(2) A business improvement zone may contract with a nonprofit corporation or any other public or private entity and may pay a reasonable fee to the nonprofit corporation or other public or private entity for services provided. Two or more business improvement zones may contract with the same nonprofit corporation or public or private entity under this subsection.
(3) A business improvement zone has the authority to borrow money in anticipation of the receipt of assessments if all of the following conditions are satisfied:
(a) The loan will not be requested or authorized, or will not mature, within 90 days before the expiration of the qualifying period.
(b) The amount of the loan does not exceed 50% of the annual average assessment revenue of the business improvement zone during the previous year or, in the case of a business improvement zone that has been in existence for less than 1 year, the loan does not exceed 25% of the projected annual assessment revenue.
(c) The loan repayment period does not extend beyond the qualifying period.
(d) The loan is subject to the revised municipal finance act, 2001 PA 34, MCL 141.2101 to 141.2821.
(4) The services provided by and projects of a business improvement zone are services and projects of the business improvement zone and are not services, functions, or projects of the municipality in which the business improvement zone is located. The services provided by and projects of a business improvement zone are supplemental to the services, projects, and functions of the city or village in which the business improvement zone is located.
(5) The business improvement zone has no other authority than the authority described in this act or authorized by other laws of this state.