Michigan Community Revitalization Program - 186-0431-23
Description of Agency
The Michigan Community Revitalization Program (MCRP) was established by Public Act 252 of 2011 to promote community revitalization and accelerate private investments in eligible contaminated, blighted, functionally obsolete, or historic properties through gap financing in the form of grants, loans, or other economic assistance. MCRP has approved 175 projects totalling $370 million since its inception in 2012 through March 31, 2023. MCRP projects are funded by the 21st Century Jobs Trust Fund and the Jobs for Michigan Investment Fund with program expenditures totaling $87.8 million for the period October 1, 2020 through March 31, 2023.
Audit Objectives
- To assess the sufficiency of the Michigan Strategic Fund’s (MSF’s) awarding process for MCRP.
- To assess the sufficiency of MSF’s monitoring efforts over MCRP projects’ satisfaction of established milestones.
Timing
Estimated Release Date: Mid 2024
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