DETROIT (Michigan News Source) – Even though budgets and appropriations are still a thing, grants seem to be a popular way for politicians to get their priorities, policies, agendas and passed in both federal and state government. Adding to the mix of available grants, we have the Michigan Department of Treasury offering tax dollars to cities, villages and townships who are “experiencing financial struggles.”
The money will be handed out to “help fund special projects” according to the state’s treasury department.
MORE NEWS: Sibling Spirit Shines as Homecoming King Passes Crown to Brother
Applications are now being accepted for the Financially Distressed Cities, Villages, and Townships (FDCVT) grant program with a total of $2.5 million in funding available for Treasury to award through the program for the 2024 fiscal year. Municipalities have until December 8th to submit their applications.
Grant funding may be used to pay for specific projects or services that move a community toward financial stability. Preference will be 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 the General Fund revenues.
Due to requirements outlined under state law, school districts are not eligible for funds from this grant program.
