MI SB1327

Adds new powers to downtown development authority boards, including authority to create and operate marketing incentives and loan programs for developing elder-friendly communities in downtown districts.

Defines "elder-friendly community" as mixed-use and residential housing designed and developed to be desirable to senior citizens, with loans available at market or below-market rates as determined by the board.

Allows boards to create, operate, and fund retail business incubators with preference given to tenants providing goods or services unavailable or underserved in the downtown area.

Requires written contracts between the board and retail business incubator tenants that include below-market lease rates, maximum 18-month lease periods, joint operating plans, business plans with measurable goals, and participation in business education programs.

Authorizes boards to contract for broadband and wireless technology services and to create loan programs for improvements to existing downtown buildings to make them marketable for sale or lease.