©2017 Michigan Economic Development Corporation
This program encourages the replacement, restoration and new construction of eligible commercial property by abating the property taxes generated from new investment for a period up to 12 years.
This program encourages rehabilitation of eligible commercial property 15 years or older by abating the property taxes generated from new investment for a period up to 10 years. The primary purpose of the facility must be for operation of a commercial business enterprise or multifamily residential use.
The Michigan Strategic Fund (MSF), in cooperation with the MEDC, administers the economic and community development portions of the CDBG program. CDBG is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban Development (HUD). This fact sheet provides a broad overview of the business development portions of the program that the MEDC administers, including Direct Assistance to Business and Infrastructure: Business Development.
The Michigan Strategic Fund (MSF), in cooperation with the MEDC, administers the economic and community development portions of the CDBG program. CDBG is a federal grant program utilizing funds received from the U.S. Department of Housing and Urban Development (HUD). This fact sheet provides a broad overview of the community development portions of the program that the MEDC administers, including Blight Elimination, Façade Improvements, Downtown Public Infrastructure and Signature Building Acquisition.
The Revolving Loan Fund (RLF) portion of Michigan's CDBG Program has a specific focus: lending to small businesses that are unable to secure competitive financing traditionally, but will meet a national objective of the CDBG Program. The program provides funds through either existing RLFs based within a specific Unit of General Local Government (UGLG) or through newly established Regional RLFs.
Eligible cities and townships may enter into conditional land use transfer statute that allows one municipality the option of conditionally transferring land to another, thus gaining access to certain economic and community development incentives.
To spur private development in its urban communities and traditional centers of commerce, the Core Communities designation target critical needs of older communities through new housing development, redevelopment of obsolete facilities and development of contaminated properties. The Core Communities designation provides the community with three economic development tools: brownfield redevelopment incentives, neighborhood enterprise zones, and rehabilitation exemptions.
The Corridor Improvement Authority assists communities with funding improvements in commercial corridors outside of their main commercial or downtown areas.
Downtown Development Authority (DDA) act is a catalyst in the development of a community's downtown district and provides for a variety of funding options including tax increment financing mechanism, and the ability to levy a limited millage to address administrative expenses.
The EB-5 Regional Center serves as an intermediary between EB-5 projects and international investors. The center is one of two state-owned centers in the U.S. providing an established EB-5 resource and a centrally organized process for investors and project developers.
300 N. Washington Sq., Lansing, MI 48913