Build MI Community Grant

Build MI Community Grant is sponsored by Michigan Economic Development Corporation (MEDC) on behalf of the Michigan Strategic Fund (MSF). An initiative designed to promote private investment in Michigan communities, providing gap financing and technical assistance for small-scale, incremental redevelopment projects. It aims to re-activate underutilized or vacant spaces into vibrant areas, including residential redevelopment.

This is suitable for property owners and builders with limited development experience.

Build MI Community Grant Initiative | MiPlace Thousands of Resources, Ready to help. Grant Administration Manual Build MI Community Grant Initiative Build MI Community Grant Initiative Funding Announcement - The BMC program has a robust pipeline that is anticipated to expend all available funding at this time. Please contact your Community Development Manager for more information on the availability of place-based resources.

The Build MI Community Grant is an initiative designed to promote private investment in Michigan communities. Administered by the Michigan Economic Development Corporation (MEDC) on behalf of the Michigan Strategic Fund (MSF), this tool provides access to real estate development gap financing and technical assistance for small scale, incremental redevelopment projects.

The Build MI Community Initiative has been established to re-activate underutilized or vacant space into vibrant areas by promoting capital investment into redevelopment projects being taken on by developers and property owners with limited real estate development experience and familiarizing them with the development process in order to position them to potentially undertake more complex projects in the future.

Award Structure & Funding Support will be in the form of a grant and will range between $50,000 and $250,000 but not greater 50% of project costs for any project. Applicants may be eligible for additional grant funding for project costs not to exceed $100,000 ($350,000 total) and up to an additional $35,000, for project-specific technical assistance, if the applicant has completed real estate development training.

For communities with populations of 15,000 or less, 30% of the annual funding will be set aside for a period of up to six months of that fiscal year. Disbursement of grant funds will follow development milestones. All applicants are required to submit an application while working with their Community Development Manager.

The timing for project consideration is impacted by various factors which may include changes to project scope, inadequate or incomplete documentation, and project complexities. The following is a high-level summary of the process: Applicant provides completed application with additional supporting documents. MEDC reviews project based on the criteria and if project aligns with Place goals and program guidelines, an LOI will be issued.

MEDC staff completes a full statutory and financial review. MEDC prepares a recommendation to MEDC leadership and authorizes project approval. MEDC drafts appropriate legal agreement.

Applicant completes milestones outlined in the agreement and necessary for disbursement of funds. Applicant completes required reporting following project completion. MEDC completes compliance verification and project closeout.

The most competitive project submissions will also address local and regional impact, place, and economic and financial considerations. These considerations are listed below by category and are in no particular order. A project will be considered more competitive for funding the more criteria that are met.

Local and Regional Impact Considerations Project aligns with local vision and goals stated in a master plan, downtown plan, capital improvements plan and/or economic development strategy. Readiness of infrastructure – utilities, housing, transportation, public transit and other community services. Located in a community engaged in Redevelopment Ready Communities.

Located in a designated Michigan Main Street community. Located in a Geographically Disadvantaged Area (GDA). Click here to see a map.

Project uses (including residential) align with local market needs. Project incorporates strong human-centric design principles and will contribute to the investment’s long-term value through holistic rehabilitation of the site. Reuse of vacant or underutilized properties located in and contributing to a vibrant walkable mixed-use district.

Project positively contributes to the pedestrian experience and considers availability of adjacent multi-modal transportation options. Rehabilitation, infill, and/or historic revitalization projects. Economic and Financial Considerations The following financial conditions will be considered by staff when determining a project’s competitiveness for Build MI Community grant support: Availability of financing for the project.

Long-term financial viability of the project as demonstrated through project proforma. Financial need for the project is exhibited. Build MI Community Successes Real estate broker Ben Argall is pursuing his passion for the U.

P. with help from the MEDC’s placemaking support, including the Build MI Community Grant initiative. AGI Construction’s Design Build Green Hub Tanya Saldivar-Ali and Luis Ali bring together historic preservation and green design practices with the development of a Southwest Detroit hub for local contractors, supported by a Build MI Community grant.

An inclusive brewery experience is helping to revitalize downtown Hamtramck with support from the MEDC’s Build MI Community grant initiative. Kelly Sugg and Alex Bernetich give new life to a blighted, condemned property in Old Village Plymouth through the support of the MEDC Build MI Community Grant.

Contact the Community Development Managers Team Community Development Managers provide personalized support and guidance to your community based on its location in Michigan. Interact with the Map on the left to find your contact by region.