2022 Michigan Compiled Laws
Chapter 125 - Planning, Housing, and Zoning
Act 198 of 1984 - Michigan Business Incubation Act (125.1571 - 125.1586)
Section 125.1577 - Period of Designation; Return of Building to Previous State; Notification; Publicizing Closing Date.
Sec. 7.
(1) Except as provided in subsection (2), a designation of a building as a business incubation center shall remain in effect for 15 years unless otherwise agreed to at any time during the period of designation by the department and a community board.
(2) A local governmental unit or educational institution that has a building designated as a business incubation center and that desires to have the building returned to its previous state before the expiration of 15 years shall notify the board 5 years before the time the building will be needed. Upon receipt of notification, the board shall forward a copy of the notification to the department and shall publicize the closing date of the center to the lessees of the center and to the community.
History: 1984, Act 198, Imd. Eff. July 3, 1984
