Michigan Community Revitalization Program (MCRP)

The Michigan Community Revitalization Program (MCRP) is an incentive program available from the Michigan Strategic Fund (MSF) in cooperation with the Michigan Economic Development Corporation (MEDC). The program provides gap financing to encourage and accelerate private commercial and mixed-use real estate investment in traditional downtowns and high-impact corridors across Michigan. Its primary purpose is to transform underutilized properties, revitalize brownfield and historic resources, eliminate blight, support job growth, and promote vibrant, walkable communities.

Any individual or legal entity may apply for MCRP incentives. Applicants requesting $15,001 or more must complete a background check due diligence review. Projects are evaluated competitively based on demonstrated financial need, local financial and community support, private equity commitment (typically 10 to 20 percent), alignment with local master plans and economic development initiatives, adherence to urban design and walkability principles, job creation, and infrastructure readiness. Preference is given to projects located in Geographically Disadvantaged Areas, Redevelopment Ready Communities, and Main Street communities, as well as those led by emerging developers.

To be eligible, the project must be located on qualifying property meeting statutory definitions of a contaminated facility, historic resource, functionally obsolete building, blighted structure, adjacent/contiguous parcel, or an urban grocery store. Eligible investments are limited to hard costs such as building alteration, rehabilitation, demolition, new construction, site improvements, machinery and fixtures, and architectural, engineering, and environmental assessment fees. Soft costs including property acquisition, developer fees, legal fees, and financing fees are strictly excluded.

The application process requires initial consultation and support from the local municipality, followed by engagement with an MEDC Community Development Manager. If project evaluation indicates strong alignment and competitiveness, the applicant submits a pre-application workbook and proforma for a needs analysis. Following review, MEDC may issue a Letter of Interest (LOI) outlining due diligence requirements. The applicant then submits a complete final application package, after which MEDC conducts underwriting, prepares a term sheet, and presents a recommendation to the MSF Board. Upon approval, legal agreements outlining performance milestones are executed at closing, and funds are disbursed upon milestone verification.