Community board; duties; petition for designation.

Sec. 5. Upon appointment, the community board shall do all of the following: Identify the building or part of the building under consideration for designation as a business incubation center. Advertise the concept of a business incubation center in the surrounding area. Solicit the views of the community concerning the designation of the building or part of the building under consideration as a business incubation center. Identify possible tenants for the center. Obtain commitments from persons, organizations, businesses, local governmental units, or other sources amounting to at least 50% of those costs not covered by rental fees that the board estimates will be needed for the establishment and operation of the business incubation center for 3 years. If, after performing the duties required by subsection (1), the board determines that a designation of the building under consideration as a business incubation center is desirable and possible, the board shall petition the department for the designation. History: 1984, Act 198, Imd. Eff. July 3, 1984