Local Emergency Financial Assistance Loan Board
About the Board
The Local Emergency Financial Assistance Loan Board is created under the Emergency Municipal Loan Act, Public Act 243 of 1980. The three-member board is comprised of the State Treasurer, Director of the Department of Licensing and Regulatory Affairs, and Director of the Department of Technology, Management, and Budget, or their designee. The Board acts upon loan applications received from municipalities currently experiencing a financial emergency. Loan proceeds originate from surplus funds in the state treasury. Since its inception, the Board has approved over $400 million in emergency loans.
Annual Report to Governor and Legislature
All meetings of the Board are special meetings open to the public.
Next Scheduled Meeting:
No Meeting Currently Scheduled
Richard H. Austin Building
State Treasurers’ Board Room, First Floor SE
430 West Allegan Street, Lansing, Michigan 48922
Draft Meeting Minutes
In accordance with the Open Meetings Act, Public Act 267 of 1976, Section 6, anyone requesting notice of upcoming Board meetings shall do so in writing to Treas_MunicipalFinance@michigan.gov by providing a name and USPS mailing address. Meeting notices will be sent to the requesting party by first class mail the same day the meeting notice is posted in accordance with Section 5. A yearly fee is currently not being charged for this service. The notification list is updated annually each September.