(1) Secure title on the facility or a lease with the intent to secure title to the facility.

(2) Manage the physical development of the incubator facility, including the provision of common conference or meeting space.

(3) Furnish and equip the facility to provide business services to the tenants.

(4) Market the facility and secure eligible tenants.

(5) Provide financial consulting, marketing and management assistance services or arrange for the provision of these services for tenants of the incubator, including assistance in accessing private financial markets.

(6) Set rental and service fees.

(7) Encourage the sharing of ideas between tenants and otherwise aid the tenants in an innovative manner while they are within the incubator.

(8) Establish policies and criteria for the acceptance of tenants into the incubator. Retail enterprises, not-for-profit enterprises (except not-for-profit enterprises engaged in research and development), wholesale enterprises and personal service enterprises are not permitted as tenants in incubators funded through this act. Up to 20% of the useful square footage of such a facility shall be occupied by an anchor tenant who does not meet these eligibility requirements.

(9) Establish a local advisory committee to assist in the performance of these functions.