There is a newer version of the Michigan Compiled Laws
2023
2022
2021
2020
2019
Other previous versions
View our newest version here

2006 Michigan Compiled Laws - Act 250 of 1941


URBAN REDEVELOPMENT CORPORATIONS LAW

Act 250 of 1941

AN ACT to provide for the creation of urban redevelopment corporations for the purpose of clearing, replanning, rehabilitating, modernizing, beautifying, and reconstructing substandard and insanitary areas; to provide for the powers and duties of urban redevelopment corporations and certain local units of government; to grant limited tax exemptions and powers of condemnation; and to provide for certain regulations and control by public agencies.


History: 1941, Act 250, Imd. Eff. June 16, 1941 ;--Am. 1945, Act 102, Eff. Sept. 6, 1945 ;--Am. 1968, Act 325, Imd. Eff. July 3, 1968 ;--Am. 1992, Act 138, Imd. Eff. July 15, 1992




The People of the State of Michigan enact:

DocumentDescription
Section 125.901Urban redevelopment corporations law; short title; applicability to townships.
Section 125.902Legislative findings; policy of state; purpose of act.
Section 125.903Urban redevelopment corporations law; definitions.
Section 125.904Development plans; contents; approval; requirements; amendments; fees.
Section 125.905Supervising agency; appointment.
Section 125.906Redevelopment corporation; organization; articles; forfeiture of rights; name.
Section 125.907Limitations imposed upon redevelopment corporations; limitations.
Section 125.908Corporation code; application to redevelopment corporations.
Section 125.909Consideration for issuance of stock, bond or debentures.
Section 125.910Determination of development cost; procedure.
Section 125.911Regulation of corporation by supervising agency.
Section 125.912Exemption from increase in assessed value; limitations; development plan; "qualified entity" defined.
Section 125.912aRedevelopment corporation; powers and authority.
Section 125.912bRedevelopment corporation; funds, grants, agreements.
Section 125.913Return on income debentures and stock; limitations.
Section 125.914Proceedings against redevelopment corporations; parties.
Section 125.915Real estate; transfer to redevelopment corporations.
Section 125.916Acquisition of real estate; methods; condemnation.
Section 125.917Condemnation; proceedings; damages; compensation.
Section 125.917aCondemnation, law applicable.
Section 125.918Leasing of property of corporation; termination of tenancy.
Section 125.919Mortgages of corporation; provisions governing.
Section 125.920Sale or lease of real estate by a city to corporation.
Section 125.921Provisions of lease.
Section 125.922Construction of act.

Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.