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Michigan Compiled Laws, Chapter 324. Natural Resources and Environmental Protection § 324.19613

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 19613. Of the funds to be used to provide grants and loans under section 19608(1)(a)(iv),  1 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.

(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.  2

(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.

1 M.C.L.A. § 324.19608.
2 M.C.L.A. § 324.20101.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 324. Natural Resources and Environmental Protection § 324.19613 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-324-natural-resources-and-environmental-protection/mi-comp-laws-324-19613/

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