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95th Legislature Regular Session  
Michigan Compiled Laws Complete Through PA 242 of 2009  
House: Adjourned until Wednesday, February 10, 2010 1:30:00 PM  
Senate: Adjourned until Wednesday, February 10, 2010 10:00:00 AM  
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Act 250 of 1941
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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


© 2009 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
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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