Labor and Economic Opportunity
The State Land Bank will post updates on upcoming development/redevelopment programs or property promotions below as they become available.
Predevelopment Investment Program
Up to $10,000 is available to qualified entities to cover costs of certain predevelopment activities for residential development. This initial pilot program will prioritize funding for developments that involve county land banks working on their first housing development project, and on developments involving successful respondents to our recent Request For Qualifications for developers.
Applicants are welcome to bring partners to the project as needed. However, the predevelopment investment funds will be awarded to the local unit of government or land bank. The subsequent Housing Loan will also be made to the local unit of government or land bank.
All documents requested in the Application and in Application Instructions must be received to complete the application package. It will be thoroughly reviewed to evaluate that the meets all criteria of this pilot project. Additional information may be sought to clarify any points on the project and use of the Predevelopment Investment funding.
Grant requests will be reviewed as submitted and, if approved, funding will be awarded after a satisfactory due diligence process and the execution of a grant agreement with the State Land Bank Authority. Once the initial set aside is earmarked for eligible applicants, we will no longer accept applications.
The State Land Bank will not charge any fees associated with the Housing Predevelopment Investment Program.
Projects in the pilot program will not be subject to repayment unless the SLBA's Housing Loan Program is not utilized.
Housing Development Loan Program
Local units of government and other public organizations in Michigan can get help developing property in their inventory for housing with support from the State Land Bank Housing Development Loan program. These short-term loans provide land banks with capital to develop housing projects with the intention to sell the property after development.
Any local units of government or other public organizations seeking funds from the loan program can begin the application process to receive available funding.