$8 million in grant funding is available through Michigan's Department of Treasury for cities, villages, and townships experiencing financial distress. Applications for the "Financially Distressed Cities, Villages, and Townships" grant program are available on the department's website through October 31, 2014. The grants can be used for projects, services, or strategies to help local governments build financial stability. Preference will be given to applicants that have declared financial emergencies in the past five years or currently have deficit elimination plans or multiple conditions of financial distress. No single grant will exceed $2 million.
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Local government grant applications now available $8 million available for distressed local units
$8 million in grant funding is available through Michigan's Department of Treasury for cities, villages, and townships experiencing financial distress. Applications for the "Financially Distressed Cities, Villages, and Townships" grant program are available on the department's website through October 31, 2014. The grants can be used for projects, services, or strategies to help local governments build financial stability. Preference will be given to applicants that have declared financial emergencies in the past five years or currently have deficit elimination plans or multiple conditions of financial distress. No single grant will exceed $2 million.
$8 million in grant funding is available through Michigan's Department of Treasury for cities, villages, and townships experiencing financial distress. Applications for the "Financially Distressed Cities, Villages, and Townships" grant program are available on the department's website through October 31, 2014. The grants can be used for projects, services, or strategies to help local governments build financial stability. Preference will be given to applicants that have declared financial emergencies in the past five years or currently have deficit elimination plans or multiple conditions of financial distress. No single grant will exceed $2 million.
September 4, 2014 ntact: Terry Stanton(517) 335-2167 Sara Wurfel (517) 335-6397
Local government grant applications now available $8 million available for distressed local units
FOR IMMEDIATE RELEASE
Applications for the new Financially Distressed Cities, Villages, and Townships grant program arenow available on the Department of Treasury website. Applications must be submitted to Treasury by the close of business on Friday, October 31, 2014. All cities, villages, and townships experiencing at least one condition of probable financial distress, as enumerated in Public Act 436 of 2012, Local Financial Stability and Choice Act, are eligible to apply for funding.* In total, $8 million has been appropriated for the FDCVT grant program. The total grant amount for a given local unit of government is limited to $2 million. This program can offer critical assistance to municipalities experiencing significant financial difficulties, Gov. Rick Snyder said. Its vital that local governments are able to build a solid financial foundation for the benefit of their taxpayers and residents. Grant funding may be used to pay for specific projects, services, or strategies that move the city, village, or township toward financial stability. Preference will be given to applicants from local units in which:
A financial emergency has been declared in the past five years; An approved Deficit Elimination Plan for the General Fund is currently in place; or, Two or more conditions indicating probable financial distress currently exist. For more information about FDCVT grants, including an application for cities, villages, and townships, visit www.michigan.gov/revenuesharing. # # # #