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This program will provide access to real estate and place-based infrastructure development gap financing through grants of up to $5 million per project for real estate rehabilitation and development, grants of up to $1 million per project for public space improvements and grants of up to $20 million to local or regional partners who develop a coordinated subgrant program.
Eligible applicants are individuals or entities working to rehabilitate vacant, underutilized, blighted and historic structures and the development of permanent place-based infrastructure associated with traditional downtowns, social-zones, outdoor dining and placed-based public spaces. The RAP program will award funding to eligible applicants based on one or more competitive application rounds.
The application window to apply closed at 11:59 p.m. on Friday, June 3, 2022.
The timing for the announcement of the RAP Program awards has changed due to the large number of applications received and the need to announce awards following Michigan Strategic Fund (MSF) board consideration.
MEDC received a total of 185 RAP applications requesting approximately $500 million in awards. The MSF has $100 million available for the RAP program. No notifications have been provided to applicants yet. We anticipate that RAP awards for all selected applications with fully committed financing will be announced following MSF board action in September while projects relying on non-RAP sources to fill a financing gap will be announced after project contingencies are addressed with the applicant.
All applicants will be notified of award status by the end of September. If you have any questions, please contact email@example.com.
An initial RAP Program application round will be announced in early 2022. The funding announcement will be followed by a 30-day question and answer period which will be followed by an open application period of at least 90 days. All RAP program funds must be obligated by December 31, 2024 and must be expended by December 31, 2026.
Applications will be competitively evaluated and those selected for recommendation to the Michigan Strategic Fund will be notified in the summer of 2022. In the event there are remaining funds, additional funding rounds may be necessary. Any questions can be emailed to CDincentives@michigan.org.
The most competitive project submissions will clearly address the impacts of the COVID-19 pandemic by responding to the considerations below: