MI HB6412

Expands powers of downtown development authority boards to create, operate, and fund marketing initiatives promoting local agriculture, locally produced agricultural products, value-added agricultural products, and farmer's markets in downtown districts.

Authorizes boards to create, operate, and fund retail business incubators in downtown districts with preference given to tenants providing goods or services not available or underserved in the area.

Requires written contracts between boards and retail business incubator tenants including below-market lease rates, maximum 18-month lease terms, joint operating plans with other downtown businesses, tenant business plans with measurable goals, and mandatory participation in business education programs.

Maintains existing board powers including economic analysis, property acquisition and development, public facility improvements, long-range planning, broadband and wireless technology contracting, and loan programs for building improvements.