Cities, villages and townships experiencing financial struggles can now apply for a grant to help fund special projects and free up tax dollars for important services, according to the Michigan Department of Treasury (Treasury).
Applications are now being accepted for the Financially Distressed Cities, Villages, and Townships (FDCVT) grant program. Municipalities interested in applying for an award must submit applications to the state Treasury Department by 11:59 p.m. on Friday, March 31.
All cities, villages and townships experiencing at least one condition of “probable financial distress” as outlined in the Local Financial Stability and Choice Act are eligible to apply for up to $2 million. A total of $2.5 million in funding is available for Treasury to award through the FDCVT grant program for the 2023 fiscal year.
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 percent of the General Fund revenues.
Due to requirements outlined under state law, school districts are not eligible for funds from this grant program.
For additional information about the FDCVT grant program or to download an application, go to www.michigan.gov/revenuesharing.
- Posted January 23, 2023
- Tweet This | Share on Facebook
Treasury announces grants available for financially distressed cities, villages, and townships
headlines Oakland County
- Meet the Judges
- Owner of twice-sunken Lake Michigan barge pleads guilty to felony
- Justice Dept. reaches civil settlement with victims abused by Lawrence Nassar
- Oakland County, Oakland Livingston Human Services Agency launch Oakland County Senior Chore Pilot Program
- U.S. Immigration Court judge to be keynote speaker at law school’s Law Day virtual celebration
headlines National
- New Legalese: You may have heard a deepfake, but what about ‘Twiqbal’?
- From Intake to Outcome: An in-house lawyer’s guide to matter management solutions
- 2 BigLaw firms in merger talks that could produce 1,600-lawyer firm with top 50 revenue
- Send in the paralegals
- Lawyer reprimanded after mistakenly emailing opposing counsel with plan to avoid judge’s call
- ‘I don’t play well’ judge who threatened to track down, jail misbehaving litigant gets tossed from case