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Upcoming Programs and Promotions
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.
- Local Units of Government (City, Village, Township or County}
- County or City Land Bank
- Must commit to using the SLBA's Housing Loan Program; should applicant not use the land bank's Housing Loan Program, the investment dollars shall be repaid within 12-18 months when a TIF bridge loan is received
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.
- Single Family, owner-occupied housing
- 25% of units must be sold to households up to 120% AMI
- Utilize an Act 381 Tax Increment Financing (TIF) plan, or demonstrate other means of meeting any gap between sale price and cost to build
- Phase I, II, BEA: the investment may be used to complete a Phase I and/or Phase II Environmental Site Assessment or a Baseline Environmental Assessment
- Land acquisition costs
- Architectural fees
- Quiet Title action
- Rezoning process fees
- Brownfield TIF plan preparation
- Market studies
- Abatement and demolition to prepare the land for redevelopment
- Construction activities except demolition
- Activities not listed as eligible and not preapproved
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.