The bill would amend the Corridor Improvement Authority Act to allow two or more cities, villages, or townships in Washtenaw County to create a joint corridor improvement authority.
The Act allows a municipality (a city, village, or township) to establish multiple corridor improvement authorities, which may levy special assessments, issue revenue bonds and notes, and implement tax increment financing plans for the redevelopment of corridors meeting specific criteria ("development areas"). The bill would allow a city, village, or township that is located in a county with a population of more than 335,000 and less than 415,000 and that has at least two State public universities within its boundaries (i.e., Washtenaw County) to join by resolution with one or more other cities, villages, or townships in the county to create a joint authority.
The bill also would include a joint authority in the definition of "authority", and would include in the definition of "municipality" a combination of two or more cities, villages, or townships acting jointly under a joint authority.
The board of a joint authority would have to consist of up to three individuals appointed by the chief executive officer of each municipality that was a member of the authority. Board members would serve without compensation, but could be reimbursed for actual and necessary expenses.
The bill would have no effect on State revenue or expenditure. The bill would reduce the growth in local unit revenue by an unknown amount that would depend on the degree to which the changes increased the number of authorities and the specific characteristics of any property included in any resulting development areas.
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.