Watch Michigan Central Planners Spend Michigander Money

Michigan Strategic Fund Board Meeting August 22 2023
Agenda:
CALL TO ORDER & ROLL CALL
II. PUBLIC COMMENT – PLEASE LIMIT PUBLIC COMMENT TO THREE (3) MINUTES
III. COMMUNICATIONS
IV. CONSENT AGENDA
a. Proposed Meeting Minutes: July 25, 2023
b. CDBG Program Year 2022: Action Plan Substantial Amendment
c. Sweetwater Development Partners, LLC: MCRP Amendment
d. POAH DD Sugar Hill, LLC: MCRP Amendment
e. Request Foods: ASESA Amendment
f. LJ, Inc.: Reauthorization and Amendment of MBDP Performance-Based Grant
g. Strategic Site Readiness Program Guidelines Amendment
V. ADMINISTRATIVE
a. MSF Annual Allocation of the 21st Century Jobs Trust Fund Appropriations
b. Michigan Strategic Fund: Bylaws Amendment – For Discussion and Deliberation Only
VI. DEVELOP ATTRACTIVE PLACES
a. W&S Development Partners, LLC: A resolution to approve a Michigan Community
Revitalization Program performance-based Other Economic Assistance Loan Participation
award in an amount of up to $3,000,000 and a Brownfield Act 381 Work Plan including
state tax capture capped at $544,048 for eligible activities.
Location: City of Grand Rapids
b. Bagley Development Group – United Artist Building: A resolution to an amendment to the
Michigan Community Revitalization Program performance-based Other Economic
Assistance Agreement to allow for deferral of payments for a period of up to 28 months
and a Brownfield Act 381 Work Plan with state tax capture capped at $5,321,135 for
eligible activities.
Location: City of Detroit
c. IFF and Related Borrowers: A resolution to approve a Loan Award from the Investment
Fund in the amount of $10,000,000 for a Workforce Housing Loan
Fund.
Location: Allegan, Ottawa, and Kent Counties
VII. ATTRACT, RETAIN AND GROW BUSINESS
a. Plastic Omnium New Energies USA, Inc.: A resolution to approve a Michigan Business
Development Grant in the amount of $5,000,000, a 15-year 100% State Essential Services
Assessment Exemption with an estimated value of up to $2,379,054 and a waiver of the
Eligible Distressed Area and Commencement Requirements.
Location: Grand Blanc Township
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VIII. MARKET THE STATE
a. Accessible Traveler Grant Application Initiative: A resolution to approve EDA Funds in
the amount of $1,000,000 for an accessible traveler grant application for Michigan Tourism
Destination Marketing Organization projects.
IX. INFORMATIONAL
a. Delegation of Authority Report