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Higher Education Project Finance
The Michigan Finance Authority provides higher education with access to effective, low-cost capital financing to all institutions of higher education.
Eligible Projects
Eligible projects include:
- Academic Buildings and Classrooms
- Athletic Facilities
- Capital Equipment and Furnishings
- Dining Halls and Cafeterias
- Faculty and Administrative Offices
- Health Care Facilities
- Laboratory and Research Facilities
- Libraries
- Parking
- Public Safety Facilities
- Residence Halls and Housing Complexes
- Storage and Maintenance Facilities
- Student Unions
Excludes facilities for the following:
- Divinity/Religious Denomination Programs
- Religious Worship
- Sectarian Instruction
- Items normally considered as a current operating expense or working capital, including books, fuel, and supplies
Eligible costs associated with the projects include:
- Plans, Studies, and Surveys
- Architectural and Engineering
- Legal and Financing
- Acquisition and Site Development
- Construction and Remodeling Costs
- Interest Capitalized During Construction
Program Information
- MFA Credit Criteria
- Fees
- Higher Education Facilities Authority (P.A. 295 of 1969)
- State Higher Education Facilities Commission (P.A. 233 of 1964)
Please contact MFA for detailed information.
Michigan Finance Authority
Austin Building, 1st Floor
430 W. Allegan
Lansing, MI 48922
Phone: 517-335-0994
Fax: 517-241-9509