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Michigan State Housing Development Authority
The Michigan State Housing Development Authority (MSHDA) is a quasi-public agency of the U.S. state of Michigan under the umbrella of the Michigan Department of Labor and Economic Opportunity. History MSHDA was created as a result of the State Housing Development Authority Act of 1966 (Act 346 of 1966). The purpose of this act was to establish funds in housing development, land acquisition and development, rehabilitation, conversion condominium fund, and to provide for the expenditure of certain funds. In addition, it was created to authorize the making and purchasing of loans, differed payment loans, and grants to qualified developers, sponsors, individuals, mortgage lenders, and municipalities. The State Housing Development Authority Act of 1966 also established and continues to provide acceleration and foreclosure procedures, provide tax exemption, authorize payments instead of taxes by nonprofit housing corporations, consumer housing cooperatives, limited dividend housing cor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan
Michigan () is a U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the List of U.S. states and territories by population, 10th-largest state by population, the List of U.S. states and territories by area, 11th-largest by area, and the largest by area east of the Mississippi River.''i.e.'', including water that is part of state territory. Georgia (U.S. state), Georgia is the largest state by land area alone east of the Mississippi and Michigan the second-largest. Its capital is Lansing, Michigan, Lansing, and its largest city is Detroit. Metro Detroit is among the nation's most populous and largest metropolitan economies. Its name derives from a gallicization, gallicized variant of the original Ojibwe language, Ojibwe word (), meaning "large water" or "large lake". Michigan consists of two peninsulas. The Lower Peninsula of Michigan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lansing, Michigan
Lansing () is the capital of the U.S. state of Michigan. It is mostly in Ingham County, although portions of the city extend west into Eaton County and north into Clinton County. The 2020 census placed the city's population at 112,644, making it the sixth largest city in Michigan. The population of its metropolitan statistical area ( MSA) was 541,297 at the 2020 census, the third largest in the state after metropolitan Detroit and Grand Rapids. It was named the new state capital of Michigan in 1847, ten years after Michigan became a state. The Lansing metropolitan area, colloquially referred to as "Mid-Michigan", is an important center for educational, cultural, governmental, commercial, and industrial functions. Neighboring East Lansing is home to Michigan State University, a public research university with an enrollment of more than 50,000. The area features two medical schools, one veterinary school, two nursing schools, and two law schools. It is the site of the Mic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan Department Of Labor And Economic Opportunity
The Michigan Department of Labor and Economic Opportunity (LEO) is a principal department of the State of Michigan. History Background Two previous principal departments of Michigan existed that focused on job training, the Department of Labor and the Michigan Department of Career Development. Department of Talent and Economic Development On December 18, 2014, Governor Rick Snyder used his constitutional authority to reorganize the executive branch of government to create the Michigan Department of Talent and Economic Development (TED). The Michigan Economic Development Corporation (MEDC) and Michigan Strategic Fund were scheduled to be transferred into the new department. A new agency, the Talent Investment Agency (TIA), was also set to be started concurrently with the department. The Michigan Strategic Fund would take over the State Land Bank Fast Track Authority from the Michigan State Housing Development Authority. The Michigan Department of Talent and Economic Development ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Development
A housing estate (or sometimes housing complex or housing development) is a group of homes and other buildings built together as a single development. The exact form may vary from country to country. Popular throughout the United States and the United Kingdom, they are often areas of high-density, low-impact residences of single-family detached homes and often allow for separate ownership of each housing unit, for example through subdivision. In major Asian cities, such as Hong Kong, Kuala Lumpur, Shanghai, Shenzhen, Singapore, Seoul, Taipei, and Tokyo, an estate may range from detached houses to high-density tower blocks with or without commercial facilities; in Europe and America, these may take the form of town housing, high-rise housing projects, or the older-style rows of terraced houses associated with the Industrial Revolution, detached or semi-detached houses with small plots of land around them forming gardens, and are frequently without commercial facilities an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreclosure
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure). Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can repossess the property. Therefore, through the process of foreclosure, the lender seeks to immediate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Exemption
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items. Examples include exemption of charitable organizations from property taxes and income taxes, veterans, and certain cross-border or multi-jurisdictional scenarios. Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction. International duty free shopping may be termed "tax-free shopping". In tax-free shopping, the goods are permanently taken outside the jurisdiction, thus paying taxes is not necessary. Tax-free shopping is also found in ships, airplanes and other vessels travelin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Cooperative
A housing cooperative, or housing co-op, is a legal entity, usually a cooperative or a corporation, which owns real estate, consisting of one or more residential buildings; it is one type of housing tenure. Housing cooperatives are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums and renting. The corporation is membership based, with membership granted by way of a share purchase in the cooperative. Each shareholder in the legal entity is granted the right to occupy one housing unit. A primary advantage of the housing cooperative is the pooling of the members' resources so that their buying power is leveraged; thus lowering the cost per member in all the services and products associated with home ownership. Another key element in some forms of housing cooperatives is that the members, through their elected representatives, screen and select who may live ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobile Home Park
A trailer park,caravan park, mobile home park, mobile home community or manufactured home community is a temporary or permanent area for mobile homes and travel trailers. Advantages include low cost compared to other housing, and quick and easy moving to a new area (for example, when taking a job in a distant place while keeping the same home). Trailer parks, especially in American culture, are stereotypically viewed as lower income housing for occupants living at or below the poverty line who have low social status. Despite the advances in trailer home technology, the trailer park image survives as evoked by a statement from Presidential adviser James Carville who, in the course of one of the Bill Clinton White House political scandals, suggested "Drag $100 bills through trailer parks, there's no telling what you'll find," in reference to Paula Jones. Tornadoes and hurricanes often inflict serious damage on trailer parks, usually because the structures are not secured to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan Legislature
The Michigan Legislature is the legislature of the U.S. state of Michigan. It is organized as a bicameral body composed of an upper chamber, the Senate, and a lower chamber, the House of Representatives. Article IV of the Michigan Constitution, adopted in 1963, defines the role of the Legislature and how it is to be constituted. The chief purposes of the Legislature are to enact new laws and amend or repeal existing laws. The Legislature meets in the Capitol building in Lansing. The 102nd Michigan Legislature will be sworn in January 1, 2023. Titles Members of the Senate are referred to as Senators and members of the House of Representatives are referred to as Representatives. Because this shadows the terminology used to describe members of Congress, constituents and the news media, using ''The Associated Press Stylebook'', often refer to legislators as state senators or state representatives to avoid confusion with their federal counterparts. Michigan Senate The Senate is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pure Michigan
Pure Michigan began as an advertising campaign launched in 2008 by the state of Michigan, featuring the voice of actor and comedian Tim Allen, using the title song from '' The Cider House Rules'' as the background music in television commercials. The Pure Michigan campaign, which aims to market the state of Michigan as a travel and tourism destination, received state and international attention beginning in 2008 when Michigan Governor Jennifer Granholm approved $45 million in additional funding for the Pure Michigan campaign from the 21st Century Jobs Trust Fund. The unprecedented tourism fund amount for the state allowed the Pure Michigan campaign to be broadcast on a national level beginning in March 2009. Annual funding for fiscal 2014 was $29 million. Pure Michigan also refers to the brand created by Travel Michigan and embodied by the organization's website. The site was relaunched in March 2008 to support the Pure Michigan brand. Travel Michigan is itself a division of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
