Michigan SB0581 modifies the definition of a downtown district for downtown development authorities.
Michigan SB0581 amends the definition of a downtown district for downtown development authorities. A downtown district can now include one or more separate and distinct geographic areas in a business district if certain conditions are met. These conditions include agreements with qualified townships or specific geographic layouts of the municipality. The bill also extends the duration of development programs and tax increment financing plans related to certain qualified refunding obligations.
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