Act 381 definition
Examples of Act 381 in a sentence
Other information required to be reported to the State of Michigan to verify compliance with Act 381 unless that information is readily available to the City Treasurer.
Unless otherwise defined in this Agreement, words or phrases used in this Agreement that are defined in Act 381 have the definitions given to them by Act 381.
This Agreement is governed by and subject to the restrictions set forth in Act 381.
Together, these documents provide for the payment of CBRA Administrative and Transaction Costs and the preparation and approval of the ▇▇▇▇▇▇▇▇▇▇ Plan and Act 381 Work Plan, payments to the ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Loan, and reimbursement to the Developer Eligible Activities expenses that have been conducted, completed and approved in accordance with the scope and terms of this Amended and Restated Agreement, the ▇▇▇▇▇▇▇▇▇▇ Plan, and Act 381 Work Plan.
It is expressly agreed that the CBRA makes or gives no assurance of payment to the Developer or the City by the mere fact that an Eligible Activity or a dollar amount for such activity is identified in the ▇▇▇▇▇▇▇▇▇▇ Plan or Act 381 Work Plan and that the CBRA shall have the right to review and approve or deny reimbursement for any invoices for eligible activities based on the reasonableness of services performed by any consultant or contractor under this Amended and Restated Agreement.
To the extent provisions of this Agreement conflict with Act 381, Act 381 controls.
The CBRA may retain the services of a qualified contract manager for the purposes of assuring that the activities, invoices, and accounting by the Developer are fair, reasonable, and constitute Eligible Activities within the meaning and scope of this Amended and Restated Agreement, the ▇▇▇▇▇▇▇▇▇▇ Plan, the Act 381 Work Plan, and Act 381.
Developer will provide City with any reasonable information City considers necessary to fulfill any reporting obligation to the State of Michigan under Act 381 and the Grant Agreement; provided, however, such information is readily accessible to Developer.
In accordance with Act 381 of 1996 (“Act 381”), City entered into a grant agreement (“Grant Agreement”) with the Michigan Department of Environment, Great Lakes, and Energy (“EGLE”) dated September 11, 2020, in the amount of $1,000,000.00 (“Grant”), relating to the 303 East University Development Project (the “Project”).
The CBRA has been formed under Public Act 381 of 1996 of the State of Michigan, as amended (“Act 381”), to promote the revitalization of contaminated, blighted, functionally obsolete, historically designated, and housing development properties (“▇▇▇▇▇▇▇▇▇▇ Eligible Property”) through tax increment financing of Eligible Activities.