Environmental
In Michigan, the 'Great Lakes Compact' (2008) affects real estate near the Great Lakes by:
ARestricting the sale of all Great Lakes shoreline property
BRegulating water withdrawals from the Great Lakes basin, which can affect development proposals that require significant water diversion✓ Correct
CRequiring all properties within 1 mile of the Great Lakes to carry federal flood insurance
DGranting all riparian owners exclusive fishing rights
Explanation
The Great Lakes-St. Lawrence River Basin Water Resources Compact (2008) governs water withdrawals and diversions from the Great Lakes basin, creating regulatory requirements for large water withdrawals that can affect major development projects in Michigan.
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