FY2002 BEDI Funding Announcements - Michigan

Flint will receive $780,000 of BEDI funds and $1,872,000 of Section 108 loan funds to remediate and rehabilitate a 55,000 square foot building and its 20,000 square foot annex in downtown Flint. Avalon Systems, Inc., an internet provider, will occupy the annex, and the main building will be marketed to new commercial tenants locating to the area, which was recently designated as a federal Renewal Community. The BEDI funds and the Section 108 will be used to assist in the remediation and rehabilitation of the buildings and for working capital. The City estimates that 213 jobs will be created as a result of the project. Total project costs are estimated at $2.9 million.

Wayne County will receive $650,000 of BEDI funds and $750,000 of Section 108 loan funds to assist in the remediation and redevelopment of a brownfield site in the Grand Haven neighborhood of the City of Hamtramck. The plans for the redevelopment of the site include construction and installation of public improvements that will support the rehabilitation of 62 homes and the construction of 50 new homes for low- and moderate-income residents. Wayne County will use both the BEDI grant and the Section 108 loan for site preparation and construction costs. The County expects this project to generate an additional $2,096,774 in other public funds. Total project costs for the development of the infrastructure are estimated to be $2,400,000.