Nov. 7, 2019
Cities, villages and townships experiencing financial struggles can now apply for a grant to help fund special projects and free up tax dollars for important services, according to the Michigan Department of Treasury (Treasury).
Applications are now being accepted for the Financially Distressed Cities, Villages, and Townships (FDCVT) grant program. Municipalities interested in applying for an award must submit applications to the state Treasury Department by 11:59 p.m. on Thursday, Jan. 2, 2020.
All cities, villages and townships experiencing at least one condition of "probable financial distress," as outlined in the Local Financial Stability and Choice Act, are eligible to apply for up to $2 million. A total of $2.5 million in funding is available for Treasury to award through the FDCVT grant program for the 2020 fiscal year.
More on Michimich.com
- Michigan: Lane closures for Portage Lake Lift Bridge inspection set for June 10
- Michigan Issues Payments to Utilities for Low-income Customers to Help Them Keep Their Energy Services Connected During COVID-19
- Governor Whitmer Rescinds Safer at Home Order, Moves Michigan to Phase Four of the MI Safe Start Plan
- Michigan: Gov. Whitmer Calls for Unity Following President Trump's Call for Governors to 'Dominate' Protesters
- Pomegranate Pictures Attaches Hollywood Vet Sam Sako
Grant funding may be used to pay for specific projects or services that move a community toward financial stability. Preference will be given to applications from municipalities that meet one or more of the following criteria:
- A financial emergency has been declared in the past 10 years. An approved deficit elimination plan for the General Fund is currently in place. Two or more conditions indicating "probable financial distress" currently exist. The fund balance of the General Fund has been declining over the past five years and the fund balance is less than 3 percent of the General Fund revenues.
Due to requirements outlined under state law, school districts are not eligible for funds from this grant program.
For more information about the FDCVT grant program or to download an application, go to www.michigan.gov/revenuesharing.
Latest on Michimich.com
- Los Angeles Based, 8th Floor LLC & ChildFaceMask.com Give Back to the Community While Protecting Children from COVID-19, Viruses, Allergies, & more
- Michigan: Rumble strip installation on I-75 starts tomorrow in northern Oakland County
- New Manufacturers' Resource: Dynamic Improvement Group Works to Boost Factory Efficiencies
- OCI Announces Appointment of Dr. Luke Matranga, Former President of Academy of General Dentistry, to OCI Dental Advisory Board
- Limitless Herbal Ltd Closes on Multi-Million Dollar CBD Deal
- ASCEND 2020 Atlanta Alumni pivot, to create Joint Venture RTW (Return to Work) Solutions Group to provide COVID-19 Business Services
- Little Caesars Popular Crazy Bread® Gets Gooey, Melty, Cheesy Spin-Off
- Real Estate Loans Are Closing During Global Pandemic. Just Ask Rickey Biddle of Philadelphia
- Michigan: Northbound M-39 service drive and ramps closing at US-12 for three weeks for bridge work
- Michigan: Northbound M-24 closing at Drahner Road as work begins in downtown Oxford in northern Oakland County
- Michigan: Secretary Benson: Don't miss June 1 deadline to apply for the Independent Citizens Redistricting Commission
- Michigan: Big Beaver Road to close under I-75 Monday night in Oakland County for new bridge deck concrete pour
- MI Symptoms Web Application Helps Michiganders Track Symptoms; Informs Reopening Strategy
- Michigan regional jobless rates surge in April with COVID-19 pandemic
- Michigan: Lawmakers Sponsor Upcoming Auto Insurance Town Halls
- STARK Industries, LLC Awarded NASA JPL - VITAL Ventilator Manufacturing License to Combat the Global COVID-19 Crisis
- Proposed 2020-21 Sterling Heights Budget Funds Critical Needs with No Tax Increase
- Evolve IP Offers Rapid Deployment of Desktop as a Service to Ingram Micro Partners
- Michigan: AG Nessel Supports Legislative Effort to Re-engage Economy Safely
- Michigan: MDARD Director Statement Regarding $22.5 Million Rural Broadband Investment from USDA