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CDFA Michigan Financing Roundtable Newsletter - August 2017
August 9, 2017
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CDFA Michigan Financing Roundtable Newsletter


Muskegon Heights, MI Crowdfund Campaign Seeks Matching Grant
The City of Muskegon Heights has a plan to Restore the Shore at Mona Lake Park, but it won't be free. A Patronicity campaign seeks to raise $10,000, and if successful, will be matched with $10,000 from the Michigan Economic Development Corporation, for a total budget of $20,000. 

How Good Must a Job be to Qualify for MI Incentives?
Governor Rick Snyder recently signed into law a package of bills collectively dubbed "Good Jobs for Michigan." It's a tax incentive intended to reward businesses that hire large numbers of Michigan employees. But it's not exactly clear what qualifies as a "good job" under the new law.

Tiger Stadium Site Redevelopment Project Gets $4.375 Million Loan from State
The planned redevelopment of the former Tiger Stadium site in Corktown has received a $4.375 million loan from the Michigan Strategic Fund. According to an MSF board document, an additional $7.3 million comes from New Markets Tax Credits.

MI No Longer a Flyover State for Venture Capital
The 2017 Detroit Entrepreneurial Study revealed Detroit's startup community has grown 50 percent in the past three years, now making up a quarter of the state's fledging companies. Last year, 14 of the city's 35 startup companies attracted more than $62 million in seed investment.

MI Adopts New Incentive Tool for Economic Development
The "Good Jobs for Michigan" program will bolster Michigan's economic development toolkit, allowing it to better compete with other states for major business relocation and expansion projects.

MI Awards $11.6M in Tax Credits to Housing Projects
The state has awarded $11.6 million in low-income housing tax credits to 13 housing development projects to create and rehabilitate affordable housing units. There are four projects in Detroit and one in Dearborn among the awardees.

Upcoming Events

CDFA Brownfields Financing Webinar: Hazardous to Healthy: Financing Solutions for Recovering Brownfields
August 31, 2017 - 2:00 - 3:30 PM Eastern
Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how the finance toolbox can be used to compliment the redevelopment and cleanup of your brownfield project.

Michigan News

USDA Grant Supports New I-69 RLF
The County Press | Aug. 7 | Revolving Loan Funds (RLFs) | Rural Development

MI Brownfield Projects Receive Tax Incentives
Grand Rapids Business Journal | Aug. 4 | Brownfield Financing

MI Advanced Transportation Technology Projects Receive $600K in Grants
Crain's Detroit Business | Jul. 27 | Incentives | Infrastructure Finance

$11B MI Infrastructure Plan Opened for Public Comment
ConstructionDIVE | Jul. 26 | Infrastructure Finance

MI House and Senate Land "Big Fish" Business Tax Incentives
Detroit Free Press | Jul. 12 | Incentives


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For information about sponsoring the CDFA Michigan Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300

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