Stimulus Bonds for Genesee County, MI May Go Unclaimed | Business Facilities - Area Economic Development, Site Selection & Workforce Solutions

Officials in Genesee County, Mi say they have not received any applications for more than $60 million in available federal stimulus bonds. The deadline is today, unless state lawmakers approve an extension to July 1. The low-interest loans were made available in June 2009 to hard-hit communities to help stimulate the economy by making money […]


https://businessfacilities.com/2010/06/stimulus-bonds-for-genesee-county-mi-may-go-unclaimed/
Officials in Genesee County, Mi say they have not received any applications for more than $60 million in available federal stimulus bonds. The deadline is today, unless state lawmakers approve an extension to July 1. The low-interest loans were made available in June 2009 to hard-hit communities to help stimulate the economy by making money […]
Facebooktwitterredditpinterestlinkedintumblrmail

Stimulus Bonds for Genesee County, MI May Go Unclaimed

Stimulus Bonds for Genesee County, MI May Go Unclaimed | Business Facilities - Area Economic Development, Site Selection & Workforce Solutions

Officials in Genesee County, Mi say they have not received any applications for more than $60 million in available federal stimulus bonds. The deadline is today, unless state lawmakers approve an extension to July 1.

The low-interest loans were made available in June 2009 to hard-hit communities to help stimulate the economy by making money available for special projects and developments. The deadline to draw down the funds is December 31 of this year. If the proposed July 1 deadline is approved by lawmakers, anyone interested in using the funds would have to go through the state.

For now, all applications have to go through the Genesee County Economic Development Corp. County officials oppose the July 1 deadline and actually are hoping the federal government will extend the end-of-year deadline, but until then they’re willing to help push projects through as quickly as possible, Genesee County Controller George Martini said.

Of the at least $60 million available, $53 million of it is in tax-exempt facility bonds available for private borrowers that can be used for commercial and industrial projects that usually would not qualify for tax-exempt financing — such as large manufacturing plants, distribution centers, hotels or research parks.

As of last week, there had been no requests in Genesee County to borrow any of the $53 million in facility bonds, said Janice Karcher, who heads up economic development at the chamber.

Suggested Links:

  • VA Region Gets $41.5 Million in Stimulus Bonds Prince George’s County in Virginia has been awarded $41.5 million in stimulus recovery bond financing for private economic development projects and is looking for private developers and […]
  • California Boosts Its Bond Program The California Enterprise Development Authority (CEDA) has praised the State Treasurer’s office for increasing the funding allocation  from approximately $120 million to $150 million for […]
  • Utah Incentives and Workforce Development Guide A comprehensive list of Utah financial aid, loans, grants, abatements, workforce development, exemptions, funds & capital investment opportunities.
SHARE
Facebooktwitterredditpinterestlinkedintumblrmail

Previous articleNobody’s Perfect
Next articleSt. Johnsonville, NY Needs a Grant
Business Facilities is a leading full-service media brand specializing in the site selection marketplace. Through a bi-monthly magazine, e-mail newsletters, a news portal, and its LiveXchange event, Business Facilities has created a dynamic community for C-level executives and economic development organizations.

LEAVE A REPLY