Maine Approval of Local Development Corporation By Municipal Officers is a legal process that allows a municipality or other local government entity to form a Local Development Corporation (LDC) to finance and promote economic development in a specific geographic area. Through this process, the municipality or local government entity is given the authority to create, manage, and fund an LDC that can borrow and lend money, acquire and dispose of real estate, and develop and manage projects related to economic development. There are two types of Maine Approval of Local Development Corporation By Municipal Officers: 1. Approval by Municipal Officers: This is the most common type of approval process. The municipal officers are granted the authority to approve the formation of an LDC, as well as the powers and activities of the corporation. 2. Approval by State Legislature: This type of approval process requires the State Legislature to pass a resolution or act authorizing the formation of an LDC. The State Legislature is also responsible for granting the powers and activities of the corporation.
Maine Approval of Local Development Corporation By Municipal Officers
State:
Maine
Control #:
ME-SKU-0327
Format:
PDF
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Approval of Local Development Corporation By Municipal Officers
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