The Michigan Community Revitalization Program (CRProgram) is a new
incentive program available from the Michigan Strategic Fund (MSF), in
cooperation with the Michigan Economic Development Corporation (MEDC),
designed to promote community revitalization that will accelerate
private investment in areas of historical declining values, contribute
to Michigan's reinvention as a vital, job generating state, foster
redevelopment of functionally obsolete or historic properties, reduce
blight, and protect natural resources. The program is designed to
provide grants, loans, or other economic assistance for eligible
investment projects.
Properties eligible can receive support not to exceed 25% of total
eligible investment for a single project which is not to exceed
$10,000,000 for loan agreements or $1,000,000 for grant agreements or
$10,000,000 for a combination of support of the total eligible
investment for a single project.