The package of blight bills related to communities who have administrative hearings bureaus, SB 35-39, passed the House Local Government committee on Thursday. If you recall, financial institutions and credit unions are exempt from the enhanced penalties outlined in the legislation. However, and amendment was added stating that any entity that is exempt from the legislation (financial institutions, credit unions) must comply with local vacant property and blight ordinances.
Additionally, there has been concern by many communities (both those affected by this legislation and those we are not) with the lack of appropriate contact information when dealing with blighted property notices on financial institution owned property. In response to those concerns and because of this legislation, the Michigan Department of Information and Financial Services is currently working on integrating a list of registered agents at financial institutions with their website. In the meantime, anyone who might be interested in that agent information can call DIFS toll-free at 877-999-6442 or DIFS Corporate Review directly at 517-373-7236.
Nikki Brown is a legislative associate for the League handling economic development issues. She can be reached at email@example.com or 517-908-0305.