125.2605 Definitions.

261 words·~1 min read·/mi/chapter-125/125-2605

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 5.

As used in this act:

(a)"Board" means the board of directors of an enterprise community development corporation.

(b)"Chief executive officer" means the mayor or city manager of a city, the president of a village, the supervisor of a township, or the county executive of a county or, if a county does not have a county executive, the chairperson of the county board of commissioners.

(c)"Corporation" means an enterprise community development corporation organized under this act.

(d)"Enterprise community" means an area designated as an enterprise community by the United States department of housing and urban development or the United States department of agriculture.

(e)"Governing body" means the body in which the legislative powers of a municipality are vested.

(f)"Municipality" means a county, city, village, or township.

(g)"Strategic plan" means a plan agreed to by this state and a municipality concerning an enterprise community that includes both of the following:

(i)Certification of the authority to adopt a strategic plan in an application for nomination as an enterprise community under applicable federal regulations.

(ii)A written commitment of this state and the municipality to adhere to the plan.

(h)"Substantial interest" means 1 or more of the following:

(i)Owning real property or a business located in the enterprise community.

(ii)Having a substantial demonstrable interest in real property or in a business located in the enterprise community.

(iii)Engaging in activities to improve the social and economic conditions of the enterprise community.

History: 1995, Act 123, Imd. Eff. June 30, 1995