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The original item was published from 3/27/2019 11:54:08 AM to 3/27/2019 12:00:19 PM.

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Press Release

Posted on: March 27, 2019

[ARCHIVED] State Treasurer Announces Grants for Distressed Municipalities

State Treasurer Rachael Eubanks today announced a total of $2.7 million is being awarded to 11 municipalities through the Financially Distressed Cities, Villages and Townships (FDCVT) Grant Program.

Municipalities can participate in the FDCVT Grant Program if they are experiencing one or more conditions indicative of “probable financial stress” as defined in Public Act 436 of 2012, the Local Financial Stability and Choice Act. The grants fund specific projects, services or strategies ― including infrastructure and public safety enhancements ― that move a city, village or township toward financial stability.

“I am pleased to announce this year’s awards,” Eubanks said. “These grant dollars help fund public safety and infrastructure projects in communities that are encountering financial hardship.”   

For the fiscal year 2019, $2.5 million was appropriated for the program with a $200,000 carryover from the previous fiscal year. The FDCVT Grant Program has a $2 million cap per municipality and grants are awarded based on applications submitted by the municipality.

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