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. 

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.

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.

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.

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.

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.

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.

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