Michigan Laws 324.19613 – Grants and loans under MCL 324.19608; conditions
Current as of: 2023 | Check for updates
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Of the funds to be used to provide grants and loans under section 19608(1)(a)(iv), all of the following conditions apply:
(a) A recipient of a grant shall receive not more than 1 grant per year not to exceed $1,000,000.00 per grant.
Terms Used In Michigan Laws 324.19613
- Department: means the department of environmental quality. See Michigan Laws 324.19601
- Facility: means that term as it is defined in part 201. See Michigan Laws 324.19601
- Measurable economic benefit: means the permanent jobs that are created or retained, the capital invested, or the increased tax base to the applicable county, city, village, and township where the project is located. See Michigan Laws 324.19601
(b) A recipient of a loan shall receive a maximum of 1 loan per year not to exceed $1,000,000.00 per loan.
(c) A grant shall be awarded only if the department determines that both of the following apply:
(i) The property is a facility as defined in section 20101.
(ii) The proposed development of the property will result in measurable economic benefit in excess of the grant amount requested by the applicant.
(d) A loan shall be awarded only if the department determines that both of the following apply:
(i) The property is a facility as defined in section 20101 or is suspected of being a facility.
(ii) The property has economic development potential based on the applicant’s planned use of the property.