Revitalization and Placemaking Program (RAP) - Real Estate Rehabilitation and Development Grants
Key Information
Due Date: Not Specified
Agency: Michigan Economic Development Corporation
Source: Michigan
Website: View Website
Funding Categories:
Funding Amount: $50,000,000
Funding Type: Grant
Match Required: Yes
Status: Posted
Community Development Manager
Overview
To be eligible, applicants must demonstrate long-term financial viability, organizational and development team capacity to execute projects of similar scope, and clear financial need proving that all other financing sources (such as private debt, equity, and available tax credit programs) have been maximized. Submissions must include a formal letter of support specific to the RAP project from the local or regional economic development organization and the highest municipal official (e.g., Mayor, City Manager, or Township Supervisor). Preference is given to projects located in traditional downtowns, central business districts, neighborhood commercial nodes, and Geographically Disadvantaged Areas (Treasury-designated Opportunity Zones and SBA-designated HUBZones).
Eligible properties must qualify as previously developed property (property that was part of an existing developed residential, commercial, or industrial zone serviced by utilities, or former landfills/brownfields) and must be located in or contributing to a traditional downtown, central business district, neighborhood commercial node, or adjacent walkable neighborhood. Single-family home rehabilitations are not eligible, and projects that have already commenced construction are generally ineligible for funding.
Applications for Real Estate Rehabilitation and Development grants are accepted and evaluated on a rolling basis as funds remain available. Interested applicants must first contact their regional MEDC Community Development Manager to discuss project readiness and funding availability prior to submitting an application through the online portal. Applications require complete project budgets, cost estimates dated within six months of submission, near-complete architectural and engineering designs, evidence of site control, and written commitments for all matching funds.
Additional Info
Posted Date: October 18, 2024
Application Due Date: Not Specified
Estimated Award Date: Not Specified
Eligible Applicants:
- Individuals
- Small businesses
- For profit organizations other than small businesses
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Special district governments
- Others
Apply with Confidence
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