RAP 2.0The Revitalization and Placemaking 2.0 program provides access to gap financing for place-based infrastructure development, real estate rehabilitation and development, and public space improvements. RAP 2.0 received an appropriation of $100 million in the budget supplemental SB 7 signed by Gov. Whitmer on Feb. 1, 2023.
The Revitalization and Placemaking Program (“RAP 2.0 Program”) is an incentive program that will proactively deploy $100 million in state funding to address the COVID-19 impacts and community revitalization needs in Michigan communities to invest in projects that enable population and tax revenue growth through rehabilitation of vacant and blighted buildings and historic structures, rehabilitation and development of vacant properties, and development of permanent place-based infrastructure associated with social zones and traditional downtowns, outdoor dining, and place-based public spaces.
Administered by MEDC, this tool provides access to real estate and place-based infrastructure development gap financing in the form of grants of up to $5 million per project for real estate rehabilitation and development, grants of up to $1 million for public space place-based infrastructure per project, and grants of up to $20 million to local or regional partners who develop a subgrant program.
In October, MEDC announced approval of $99.2 million in grant funding for RAP 2.0 projects across Michigan’s 10 prosperity regions. Read the full press release, here.