Build MI Community Grant Initiative

Goal/purpose: The Build MI Community (BMC) grant initiative is designed to promote private investment by emerging developers with limited real estate development experience. It provides access to real estate development gap financing and technical assistance for small scale, incremental development projects to reactivate underutilized or vacant space into vibrant areas.

Additional applicant eligibility criteria: Applicants must be individuals or entities with limited commercial and/or mixed-use development experience (maximum of two commercial projects). Individuals or entities who have successfully closed real estate deals using other MEDC financial tools are not eligible for BMC.

Project eligibility: Projects must support the revitalization of traditional downtowns or traditional commercial corridors by promoting greater density and vibrancy. Competitive projects will be located in or within walking distance of a downtown or traditional commercial corridor, with preference given to projects in geographically disadvantaged areas. Projects must also demonstrate local and regional impact, strong human-centric design principles, and long-term financial viability.

Application process: The process involves predevelopment scoping, contacting a regional Community Development Manager (CDM) to discuss the project, and submitting an application and intake materials. This is followed by a Letter of Interest (LOI) consideration by MEDC leadership, full statutory and financial review, MEDC leadership approval, and the development of a grant agreement. Disbursement of funds follows the completion of development milestones.