DOWNTOWN DEVELOPMENT AUTHORITYAct 197 of 1975
AN ACT to provide for the establishment of a downtown development authority; to prescribe its powers and duties; to correct and prevent deterioration in business districts; to encourage historic preservation; to authorize the acquisition and disposal of interests in real and personal property; to authorize the creation and implementation of development plans in the districts; to promote the economic growth of the districts; to create a board; to prescribe its powers and duties; to authorize the levy and collection of taxes; to authorize the issuance of bonds and other evidences of indebtedness; to authorize the use of tax increment financing; to reimburse downtown development authorities for certain losses of tax increment revenues; and to prescribe the powers and duties of certain state officials.
History: 1975, Act 197, Imd. Eff. Aug. 13, 1975 ;– Am. 1988, Act 425, Imd. Eff. Dec. 27, 1988 ;– Am. 1993, Act 323, Eff. Mar. 15, 1994
Popular Name: DDA
Popular Name: Downtown Development Authority Act
To read the full Legislative Act visit ACT 197 ONLINE