ECONOMIC DEVELOPMENT PLANNING AND INFRASTRUCTRUE GRANTS Enabling Act; Statutory Citation 1984 PA 270 (Michigan Strategic Fund Act); M.C.L. 125.2001 et seq., M.S.A. 3.541(201) Summary Program Descriptions Administered by the Michigan Economic Development Corporation, the Michigan Strategic Fund offers these programs to defray costs associated with site development for brick and mortar economic development projects. Grants and low-interest loans are available for qualified projects, with a required local funding match of 10 percent for the larger infrastructure grants. Benefits and Eligibility Cirteria Economic Development Planning Grants Planning grants are available to local units of government with fewer than 50,000 in population for costs associated with planning for economic development projects, including design and site planning. Grants may not exceed $50,000, and a local funding match of at least 10 percent of the proposed project costs. Economic Development Infrastructure Grants A competitive grant program to assist local units of government with costs associated with public infrastructure improvements necessary to attract state-targeted businesses, generally limited to value-added industries. Economic Development Infrastructure Grants come in two types: those funded with federal Community Development Block Grant Funds (CDBG) through the MEDC and those funded by the Michigan Strategic Fund through the MEDC. Local units with less than 50,000 in population and non-urban counties are eligible for CDBG-funded infrastructure grants; local units with at least 50,000 in population and urban counties are eligible for local (county) CDBG funds. Data and Source Community Development Block Grants - The fiscal year 2002 recommendation includes $60 million in federal revenue to support grants for economic development public infrastructure projects and land acquisition, clearance, and rehabilitation. This represents a $10 million increase from fiscal year 2001 and will ensure that additional resources are directed to local communities throughout the state. Priority is given to projects involving manufacturing businesses and projects that result in the creation of new jobs. This funding is available to communities of under 50,000 in population. Recent press releases from the Michigan Economic Development Corporation include: a $349,688 industrial park loan to Buena Vista Township, Saginaw County for the Commerce Centre Industrial Park. The loan will be used for new road, extension of water and sewer and a water retention pond. The project is expected to result in the creation of 50 new full-time jobs. a $235,285 economic development infrastructure grant to the City of Hamtramck, Wayne County, for the Kowalski Company. The grant will be used for the relocation and relining of an existing sewer line. The project is expected to result in the creation of 10 new full-time jobs. a $75,000 economic development-planning grant to Bertrand Township, Berrien County, for the Bertrand Crossing Industrial Park planning project. Bertrand Township will use this grant for a planning study, which will include: The development of a final conceptual plan for phase II of the Bertrand Crossing Industrial Park; preparation of engineering plans and development cost estimates; legal and administrative costs associated with the development. a $400,350 Economic Development Financing Agreement to Big Rapids Township, Mecosta County for the Pioneer Group Industrial Park. The loan will be used for road improvements and utility extensions of gas and electric to the industrial park. The industrial park project is expected to result in the creation of 40 new full-time jobs. Return to beginning of Survey of Economic Development Programs in Michigan             Last Updated May 23, 2006