Housing: condominium; definition of undeveloped land; modify. Amends sec. 67 of 1978 PA 59 (MCL 559.167).
Impact
The enactment of SB 272 could significantly alter the landscape of condominium development in Michigan. It allows developers to maintain control over undeveloped land for a longer duration, potentially impacting how communities assess and manage future growth. This change could also lead to conflicts between developers and condominium associations, especially if developers decide not to develop the land within the stipulated time frame. Moreover, the provisions regarding amendments to condominium documents may require associations to become more proactive in governance, ensuring that changes are documented and formally recorded.
Summary
Senate Bill 272 seeks to amend the Condominium Act of 1978, specifically focusing on the definition and management of undeveloped land within condominium projects. The bill introduces provisions that allow developers and their successors to withdraw undeveloped land from a project or convert undeveloped condominium units to 'must be built' status without needing consent from co-owners or mortgagees for a period of ten years following the recording of the master deed. This is designed to provide developers with greater flexibility in managing their projects and responding to market conditions.
Contention
While supporters argue that the bill enhances the ability of developers to respond to changing market conditions and increases the viability of condominium projects, opponents raise concerns about the potential loss of local control and the rights of current co-owners. Critics fear that allowing developers to unilaterally convert undeveloped land without co-owner consent could undermine community interests, leading to disputes about land use and property rights. This contention centers around the balance of power between developers and condominium associations, as well as the bill's implications for community autonomy.
Housing: condominium; requirements for an association of co-owners to conduct a reserve study and establish a reserve funding plan; modify. Amends sec. 105 of 1978 PA 59 (MCL 559.205).
Economic development: brownfield redevelopment authority; definitions of housing property and tax capture revenues and cap on total tax capture revenues; clarify definitions and modify cap. Amends secs. 2, 14a & 16 of 1996 of 381 (MCL 125.2652 et seq.).
Housing: other; installation of electric vehicle supply equipment; allow condominium associations to permit under certain conditions. Amends sec. 47 of 1978 PA 59 (MCL 559.147).