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Act 346 of 1966
- STATE HOUSING DEVELOPMENT AUTHORITY ACT OF 1966 (125.1401 - 125.1499c)
Section 125.1415a ‑ Exemption of housing project from taxes; filing certified notification of exemption with local assessing authority; annual service charge; amount; duration of exemption; distribution of payments for public services; exceptions; payment of service charge equal to full amount of taxes; reduced housing charges; “low income persons and families” defined; rules; reimbursement prohibited.
Section 125.1421 ‑ Michigan state housing development authority; creation; composition; appointment, qualifications, and terms of members; vacancy; expenses; certificate of appointment or reappointment; designated resident members; powers vested in members; quorum; actions of authority; findings of fact; meetings; chairperson and vice-chairperson; officers, agents, and employees; delegation of powers and duties; relationship to department of consumer and industry services; “section 8” defined.
Section 125.1422a ‑ Rehabilitation of residential real or rental property; loans, grants, or deferred payment loans to persons and families of low and moderate income; loans to persons in areas of chronic economic stress and to persons located elsewhere in state; powers of authority; participation or cooperation with governing bodies, private organizations, or public organizations; plan; selection of neighborhoods.
Section 125.1422b ‑ Designation of authority as housing credit agency; purpose; amount of housing credit ceiling; qualification of applicant; allocation plan; distribution; setting aside allocable amounts; reapportionment of unallocated credit amounts; applications for low income housing tax credit; fees; “rural housing projects” defined.
Section 125.1424 ‑ Housing development fund; advances; grants; transfer of moneys.
Section 125.1424a ‑ Land acquisition and development fund; creation; payment of moneys into fund.
Section 125.1424b ‑ Land acquisition and development fund; use of moneys; acquisition and exchange of real property; improvements to real property; costs; conveyance of real property.
Section 125.1424c ‑ Transfer of moneys to housing development fund or rehabilitation fund.
Section 125.1424e ‑ Rehabilitation fund; use of moneys; allocations or pledges to holders of bonds.
Section 125.1425 ‑ Bonds and notes; issuance; purposes; issuing renewal notes, bonds to pay notes and refunding bonds; notes or bonds as general obligations and negotiable instruments; revised municipal finance act inapplicable; issuance subject to agency financing reporting act.
Section 125.1432 ‑ Capital reserve fund; definitions; federal housing subsidy programs; recommendations; priority; program of loans for mobile homes; program of loans for consumer housing cooperatives; notice of public hearing or proposed rule change; rules; identification of housing production goals; report to governor and committees; review of loans, financial instruments, and lines of credit; confidentiality.
Section 125.1432a ‑ Issuance of bonds to finance single family homes; previous ownership interest; publicizing program; report to legislature; section inapplicable to refinancing single family homes.
Section 125.1432b ‑ Mortgage credit certificate program; authority designated as administrator; guidelines; qualifying for receipt of mortgage credit certificate; adaptation of property for use by disabled individuals; family income limits; applicability of internal revenue code; exception; retroactive effect of changes in subsections (3) and (4).
Section 125.1433 ‑ General reserve fund; creation; payments into fund; use of fund.
Section 125.1439 ‑ Money of authority; deposit; security for deposits; contracts with holders of notes or bonds; security for money held in trust; system of accounts; spending for operating purposes; periodic audits; copies.
Section 125.1444 ‑ Loans; purposes; conditions; amount; eligibility; sales and resales; long-term financing or refinancing; securing and repaying loans; interest rate; misrepresentation of income; time period for refinancing; loans for newly rehabilitated, newly constructed, or existing 1- to 4-unit housing units; definitions.
Section 125.1444a ‑ Rehabilitation loans, grants, or deferred payment loans; eligibility; secured or unsecured loans or grants; insurance; reserve; interest; terms and conditions; rules; persons and families of low and moderate income; maximum principal loan amounts; minimum age of structure.
Section 125.1444b ‑ Loans to mortgage lenders; authorized purchases and commitments; requirements and conditions; report.
Section 125.1444c ‑ Use of proceeds of notes or bonds; qualification as rehabilitation; establishment of higher income limits; eligibility for occupancy; application; issuance of 6-month commitment to loan funds; limitation on outstanding loan commitments; fees; direct or indirect loan; sale, refinancing, or resyndication; allowable distributions; report to authority; authority-aided mortgage; monitoring compliance; remedies; regulation; liability; priority consideration; unified volume cap not as impairment; student housing project.
Section 125.1444e ‑ Income eligibility standards applicable to tenant of housing project.
Section 125.1444f ‑ Loan for housing project in effectively treatable area; demonstration of community support; return on investment.
Section 125.1444g ‑ Enforcement of promises or commitments; action to be brought against authority.
Section 125.1447 ‑ Obtaining money, property, or service with intent to defraud or cheat; penalty; determination of total value; prior convictions; prohibited use.
Section 125.1448a ‑ Jurisdiction to foreclose mortgages and land contracts held by authority.
Section 125.1448c ‑ Bringing amount due into court before judgment of sale; dismissal of complaint.
Section 125.1448e ‑ Bringing amount due into court after judgment of sale; stay of proceedings; subsequent default.
Section 125.1448f ‑ Public sale of land by county clerk, deputy county clerk, or other authorized person; hours; location; sale subject to MCL 600.6091.
Section 125.1448g ‑ Deed of sale; execution; operation; right, title, and interest vested in grantee; recordation; redemption of premises.
Section 125.1448h ‑ Sale proceeds; application to discharge of debt; surplus; interest.
Section 125.1448j ‑ Adding property tax and insurance premium payments made after foreclosure to amount due in judgment; determination of additional liability; affidavits; receipt; redemption.
Section 125.1448k ‑ Personal liability on land contract or for mortgage debt; original judgment; deficiency; delivery of premises to purchaser; order.
Section 125.1448l ‑ Forfeiture, foreclosure, or specific performance proceedings; minimum price.
Section 125.1448m ‑ Land contract or mortgage debt secured by evidence of debt of person other than vendee or mortgagor; party; court order.
Section 125.1448o ‑ Action to discharge mortgage or land contract; judgment entered by court; contents; minutes; delivery of judgment to authority; recordation of judgment.
Section 125.1449a ‑ Right of authority to give notice and make foreclosure; conditions; mortgage securing payment of money by installments; installment as separate and independent mortgage; foreclosure and redemption.
Section 125.1449b ‑ Notice of sale; publication; posting copy of notice upon premises.
Section 125.1449d ‑ Sale of premises at public sale; hours; location; appointed person; highest bidder.
Section 125.1449e ‑ Adjournment of sale; request; notice; oral announcement unnecessary.
Section 125.1449g ‑ Purchase of premises by authority or its successor or assign permitted.
Section 125.1449h ‑ Deed; execution, acknowledgment, and delivery by officer or person making sale; separate deeds where lands situated in several counties; endorsement, recordation, and indexation of deed by register of deeds; redemption.
Section 125.1449i ‑ Deed; right, title, and interest vested in grantee; record of deed valid without re-recordation; effect of sale on valid subsisting lien created before mortgage lien took effect.
Section 125.1449j ‑ Redemption of premises; payment of taxes or insurance premiums; redemption period; fees or charges.
Section 125.1449l ‑ Payment of entire sum bid at sale, interest, and fee, or delivery of certificate of payment to register; destruction of deed; memoranda.
Section 125.1449m ‑ Refusal to make and acknowledge certificate of payment; liability; damages; civil action.
Section 125.1449n ‑ Disposition of surplus money remaining after sale of real estate.
Section 125.1449o ‑ Perpetuating evidence of sale; affidavit; endorsement upon or annexation to instrument; references.
Section 125.1449r ‑ Note recording evidence of sale to be made in margin of mortgage record.
Section 125.1449u ‑ Action to recover deficiency judgment against mortgagor; defense; applicability of section.
Section 125.1449v ‑ Foreclosure against residential property not exceeding 4 units and not more than 3 acres; applicability of section.
Section 125.1452 ‑ Low and moderate income housing; dwelling units to certain low income persons and families.
Section 125.1453 ‑ Low income housing; criteria for determination of occupant eligibility; rental charges.
Section 125.1454 ‑ Low and moderate income housing; agreements for services of selection of eligible families and individuals.
Section 125.1455 ‑ Low and moderate income housing; rights of persons or families benefited.
Section 125.1456 ‑ Low and moderate income housing; financing for small scale housing developments.
Section 125.1458a ‑ Michigan housing and community development fund; creation; administration; credit of amounts and earnings from investments; availability of money for disbursement; money in fund at end of fiscal year.
Section 125.1458b ‑ Michigan housing and community development program; creation and implementation; purpose; availability of financing to eligible applicants; biennial allocation plan; public hearings; annual report; rules.
Section 125.1458e ‑ Michigan housing and community development fund advisory committee; creation; membership; terms; vacancy; compensation; expenses; chairperson; vice-chairperson; scope of advice; space, supplies, and staff; public meetings; quorum; majority vote; information used for personal gain prohibited; adoption of code of ethics.
Section 125.1458f ‑ Rights of holders of authority bonds or notes; construction of chapter as to status of money controlled by authority.
Section 125.1459a ‑ Supportive housing property; filing in affidavit form; certification by authority; filing of certified notification of exemption with local assessing officer; certification on first-come, first-served basis; limitation.
Section 125.1472 ‑ “Consumer housing cooperative” as part of corporate name; exception.
Section 125.1474 ‑ Appointment of directors sufficient in number to constitute majority of board; conditions; exception.
Section 125.1483 ‑ Limited dividend housing corporation; articles of incorporation.
Section 125.1493 ‑ Limited dividend housing association; provisions of partnership agreement, joint venture agreement, trust agreement, or other document of basic organization.
Section 125.1497a ‑ Mobile home park corporation; incorporation and qualification requirements.
Section 125.1497d ‑ Articles of incorporation; appointment of new directors to board of directors; majority; conditions.
Section 125.1498a ‑ Mobile home park association; included entities; approval; membership.
Section 125.1498c ‑ Mobile home park association; provisions of partnership agreement, joint venture agreement, trust agreement, or other document of basic organization.
Section 125.1498d ‑ Document of basic organization; managing agent; appointment; powers; conditions.
