Michigan Strategic Fund | About MEDC

MSF Board

Governor Snyder signed Executive Order 2012-9 on June 26, 2012 abolishing the MEGA Board and transferring the various responsibilities of the MEGA to the Michigan Strategic Fund effective August 25, 2012. The MSF board has the following responsibilities:

Approve grants and loans under the Michigan Business Development Program;
Approve grants and loans under the Michigan Community Revitalization Program;
Approve the use of Private Activity Revenue Bonds;
Authorize the submittal by local units of government of Community Development Block Grant applications;
Recommend to the State Administrative Board Agricultural Processing, Renewable Energy and Forest Products Processing Renaissance Zone designations;
Approve Tool and Die Renaissance Recovery Zones; and
Act as the fiduciary agent with respect to the 21st Century Jobs Fund investments;
Pursuant to statute, the Chief Compliance Officer provides advice and guidance in regard to the 21st Century Jobs Fund.

MSF Meeting Agenda

The Michigan Strategic Fund meets monthy in Lansing and continues to help fuel new economic activity across Michigan, strengthening our communities and creating good jobs for our residents.

An 11-member board has statutory authority to direct state appropriations to support business development, community development, talent enhancement and state marketing activities, including the promotion of tourism, film industry, arts and cultural affairs.

Tax Equity and Fiscal Responsibility Act (TEFRA) Notices

On December 31, 2018, the U.S. Department of Treasury published final regulations amending the public approval requirements for tax-exempt private activity bonds. The Tax Equity and Fiscal Responsibility Act of 1982 ("TEFRA") provided for public notice, hearing and approval requirements set forth in Section 147(f) of the internal revenue code of 1986, as amended. The TEFRA Requirements must be satisfied as a precondition to the issuance of tax exempt private activity bonds, including exempt facility bonds and qualified 50l(c)(3) bonds. The Final TEFRA Regulations apply to all tax-exempt private activity bonds issued on or after April 1, 2019, by the Michigan Finance Authority, Michigan State Housing Development Authority, and Michigan Strategic Fund.

MSF BOARD MEMBERS

Mark A. Burton, MSF President & Chairman - CEO
Michigan Economic Development Corporation

Paul Ajegba, Director
Michigan Department of Transportation

Jeff Donofrio, Director
Michigan Department of Labor and Economic Opportunity

Paul V. Gentilozzi, President
Gentilozzi Real Estate

Rachael Eubanks, State Treasurer
Michigan Department of Treasury

Charles P. Rothstein, Founder and Senior Managing Director
Beringea, LLC

Britany L. Affolter-Caine, Ph.D, Executive Director
Michigan's University Research Corridor

Ronald W. Beebe, CEO
Euclid Industries, Inc., Brinn Performance, Inc., Awrey Bakeries, Griffin Thermal Products, and Milling Precision Tool Corporation

September Hargrove, Vice President
JPMorgan Chase and Co.

Susan Tellier, President
JetCo Packaging Solutions

Cindy L. Warner, Global Leader for Professional Services
Amazon Web Services

2020 MSF BOARD MEETING DATES

All meetings are held at the MEDC Lansing Office, Lake Michigan Conference Room, at 10:00 a.m. unless otherwise noted.

Wednesday, January 22, 2020
Tuesday, February 25, 2020
Thursday, March 19, 2020 at 10:30 AM*
Conference Call Number: (248) 340-3787/Access Code: 790520277#
Tuesday, March 24, 2020 - CANCELLED
Tuesday, April 14, 2020 at 10:00 AM*
Conference Call Number: (248) 340-3787/Access Code: 415913914#
Tuesday, April 28, 2020
Tuesday, May 26, 2020
Tuesday, June 23, 2020
Tuesday, July 28, 2020
Tuesday, August 25, 2020
Tuesday, September 22, 2020
Tuesday, October 27, 2020
Tuesday, December 8, 2020