LANSING, Mich. – State Sen. Lana Theis on Thursday said the Michigan Department of Treasury is offering grants for cities, villages, and townships that are struggling financially to help fund special projects and free up revenues for important local services.
“Virtually no one has been immune to the effects of high inflation,” said Theis, R-Brighton. “Everything is more expensive and local governments are feeling the impact of the economy like the rest of us. I am pleased these grants are available to help qualifying communities improve their financial situations.”
According to the department, the Financially Distressed Cities, Villages, and Townships Grant Program helps eligible localities pay for specific projects or services that move a community toward financial stability. Preference is given to applications from municipalities that meet one or more of the following criteria:
- A financial emergency has been declared in the past 10 years.
- An approved deficit elimination plan for the general fund is currently in place.
- Two or more conditions indicating “probable financial distress” currently exist.
- The fund balance of the general fund has been declining over the past five years and the fund balance is less than 3% of general fund revenues.
A total of $2.5 million in funding is available for Treasury to award through the grant program for the 2024 fiscal year.
Grant applications must be submitted to the state treasury department by 11:59 p.m. on Friday, Dec. 8.
Visit Michigan.gov/RevenueSharing for more information and to download an application.