Michigan is working to make alternative energy, such as solar, financially feasible for commercial and industrial property owners. Michigan's Property Assessed Clean Energy (PACE) financing law, Mich. Comp. Laws § 460.931 (2010), and the Lean and Green Michigan Program allow counties, cities, and townships to
In Michigan, the Michigan Condominium Act, MCL 559.157, requires that the “…books, records, contracts, and financial statements concerning the administration and operation of the condominium” be available for examination by the co-owners at convenient times. Accordingly, most condo documents also contain provisions that require the books
As the housing market continues to slowly recover from the foreclosure crisis in Michigan, and other areas of the country, many community associations are still facing significant challenges with unit owners who file for personal bankruptcy. Numerous unit owners are beginning to utilize an old
The Michigan Condominium Act was amended in 2014 to impose additional requirements on condominium associations with respect to financial record keeping and encourage transparency. Prior to 2014, the annual audit or review of an association’s books, records and financial statements did not need to be
The last significant revisions to the Michigan Condominium Act took place in 2001 and 2002. While many Michigan condominium associations have amended their governing documents to address the 2001 and 2002 amendments to the Michigan Condominium Act, those amendments often fail to account for the
