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Michigan Legislature
Michigan Compiled Laws Complete Through PA 123 of 2019
House: Adjourned until Wednesday, December 11, 2019 10:00:00 AM
Senate: Adjourned until Wednesday, December 11, 2019 10:00:00 AM

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Act 250 of 1941
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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

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 125.901SectionUrban redevelopment corporations law; short title; applicability to townships.
Section 125.902SectionLegislative findings; policy of state; purpose of act.
Section 125.903SectionUrban redevelopment corporations law; definitions.
Section 125.904SectionDevelopment plans; contents; approval; requirements; amendments; fees.
Section 125.905SectionSupervising agency; appointment.
Section 125.906SectionRedevelopment corporation; organization; articles; forfeiture of rights; name.
Section 125.907SectionLimitations imposed upon redevelopment corporations; limitations.
Section 125.908SectionCorporation code; application to redevelopment corporations.
Section 125.909SectionConsideration for issuance of stock, bond or debentures.
Section 125.910SectionDetermination of development cost; procedure.
Section 125.911SectionRegulation of corporation by supervising agency.
Section 125.912SectionExemption from increase in assessed value; limitations; development plan; “qualified entity” defined.
Section 125.912aSectionRedevelopment corporation; powers and authority.
Section 125.912bSectionRedevelopment corporation; funds, grants, agreements.
Section 125.913SectionReturn on income debentures and stock; limitations.
Section 125.914SectionProceedings against redevelopment corporations; parties.
Section 125.915SectionReal estate; transfer to redevelopment corporations.
Section 125.916SectionAcquisition of real estate; methods; condemnation.
Section 125.917SectionCondemnation; proceedings; damages; compensation.
Section 125.917aSectionCondemnation, law applicable.
Section 125.918SectionLeasing of property of corporation; termination of tenancy.
Section 125.919SectionMortgages of corporation; provisions governing.
Section 125.920SectionSale or lease of real estate by a city to corporation.
Section 125.921SectionProvisions of lease.
Section 125.922SectionConstruction of act.
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