Economic Development Corporation
The Economic Development Corporation and the Tax Increment Finance Authority are separate legal entities, which for purposes of coordination were merged by action of the City Council May 3, 1982.
Purpose: To strengthen and revitalize the local economy by alleviating and preventing conditions of unemployment, ultimate responsibility for attracting, assisting and retaining local industries and commercial enterprises, providing means and methods for encouragement of attracting new and expanding current industries and commercial businesses.
Established: The Economic Development Corporation of the City of Albion (EDC) was established by adoption of articles of incorporation dated July 29, 1977. The statutory authority for the adoption is found at MCL Section 125.1601, et seq. Board member’s qualifications are found at MCL Section 125.1604. It shall consist of at least nine members, including the Mayor who shall serve as a Director by virtue of holding the office of Mayor of the City of Albion – not more than three can be an officer or employee of the municipality – projects require additional board members who shall be representative of neighborhood and business interest affected by a project for the term of the project. The Mayor appoints the board members with the advice and consent of the Council.
Membership: Not less than nine members, no more than three of which may be City officers or City staff. Ex-officio, nonvoting members: Executive Secretary of the Chamber of Commerce, Sheridan Township Supervisor, Albion Township Supervisor. Appointed by Mayor with confirmation by City Council.
Term: Six years
Meetings: Second Wednesday of each month, 7:30 a.m.
Source: City of Albion, 2001.