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A $50 million appropriation
was recently granted to the Michigan Economic Development Corporation to
fund infrastructure needs in 88 core communities. The City of Saginaw
and Buena Vista Township were named core communities in the legislation.
The fund will provide grants or loans to urban communities for use in
economic development activities such as land assembly, site
redevelopment, infrastructure, and other activities.
The pilot project's aim is to induce urban reinvestment and contain
suburban sprawl. Funds will be provided for projects that create new
jobs, contribute to redevelopment and/or result in substantial urban
private reinvestment. Communities will receive information on this
program by the end of July. |
