(1) A local governmental unit, by resolution of its legislative body, may establish 1 technology park district or, if subdivision (a) is not applicable, may establish more than 1 technology park district. A district shall consist of 1 or more parcels or tracts of land and, at the time the resolution is adopted, shall meet the following requirements:

    (a) The district shall contain not less than 100 acres of undeveloped land. This subdivision does not apply if the administration building of the university requesting establishment of the district is located in a local governmental unit with a population of 800,000 or more persons.

    (b) The district boundaries shall be continuous.

    (c) All of the land in the district shall be within a 10-mile radius of the administration building on the main campus of a 4-year public university, 4-year independent university, or 4-year institute of technology, or within the corporate boundaries of the city, village, or township in which the administration building is located, or in a city or township adjacent to a city in which the administration building is located if the district is adjacent to land owned by the 4-year public university.

    (2) The resolution establishing a district shall set forth a finding and determination that the district satisfies all the requirements of subsection (1).

    (3) A local governmental unit shall establish a district only upon the written request filed with the clerk of the local governmental unit by the owners of record of 75% of the land included within the proposed district and the board of control of the 4-year eligible university or institute. If the university lies within 2 adjoining local governmental units, the university may file a request with both of the clerks of the local governmental units.

    (4) The boundaries of an established district may be altered to include or exclude land upon the request of the owners of record of the affected real property and with the written consent of the owners of record of 75% of the land within the district as established and the board of control of the university. The district as altered shall satisfy the requirements provided in subsection (1).

    (5) After receiving a proper written request and before adopting a resolution establishing or altering a district, the legislative body shall set a date for a public hearing on the request and shall publish a notice of the hearing. The legislative body shall also give written notice of the hearing to all of the owners of record of real property within the proposed district and to the legislative body of each taxing unit which levies ad valorem property taxes on the real property within the proposed district. The notice shall be given by certified mail not less than 10 nor more than 30 days before the date of the hearing.

    (6) A district established by a township shall affect only land within the unincorporated territory of the township and shall not affect land within a village located in that township.

    (7) Land included as part of a district may also be part of a district or development area established under any of the following:

    (a) The commercial redevelopment act, Act No. 255 of the Public Acts of 1978, being section 207.651 to 207.668 of the Michigan Compiled Laws.

    (b) Act No. 198 of the Public Acts of 1974, being section 207.551 to 207.571 of the Michigan Compiled Laws.

    (c) Act No. 197 of the Public Acts of 1975, being section 125.1651 to 125.1681 of the Michigan Compiled Laws.

    (d) The tax increment finance authority act, Act No. 450 of the Public Acts of 1980, being section 125.1801 to 125.1830 of the Michigan Compiled Laws.