ELIGIBLE LOW INCOME COMMUNITY Criteria |
Check YES |
Michigan Magnet Fund shall make all of its investments in census tracts that is less than 80% of median family income or lower or have 20% poverty level or higher. This item must be checked Yes |
75% of MMF’s investment must be in areas where the census tract meets the following criteria |
(1) Characterized by at least one of items (i) - (iii) on the list below for each QLICI (check one only box), or
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(2) Characterized by at least two of items (iv) - (xviii) on the list below for each QLICI (Check 2):
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i - Census tracts with poverty rates greater than 30 percent ; or |
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ii - Census tracts that (a) if located within a non-Metropolitan Area, have a median family income that does not exceed 60 percent of statewide median family income; or (b) if located within a Metropolitan Area, have a median family income that does not exceed 60 percent of the greater of statewide median family income or the Metropolitan Area median family income ; or |
| iii - Census tracts with unemployment rates at least 1.5 times the national average |
| Census tracts with one of the following (Only one of three boxes under iv count): |
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iv (a) Poverty rates greater than 25% ; or |
iv (b) if located within a non-Metropolitan Area, median family income that does not exceed 70% of statewide median family income, or, if located within a Metropolitan Area, median family income that does not exceed 70% of the greater of the statewide median family income or the Metropolitan Area median family income ; or |
iv (c) Unemployment rates at least 1.25 times the national average . |
| v Federally designated Empowerment Zones, Enterprise Communities, or Renewal Communities; |
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| vi U S Small Business Administration (SBA) designated HUB Zones, to the extent that the QLICIs will support businesses that obtain HUB Zone certification from the SBA; |
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| vii Brownfield sites as defined under 42 U.S.C. 9601(39); |
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| viii Areas encompassed by a HOPE VI Redevelopment Plan; |
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| ix Federally designated as Native American or Alaskan Native areas, Hawaiian Homelands, or redevelopment areas by the appropriate Tribal or other authority; |
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| x Areas designated as distressed by the Appalachian Regional Commission or Delta Regional Authority; |
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| xi Colonias areas as designated by the U.S. Department of Housing and Urban Development; |
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| xii Federally designated medically underserved areas, to the extent that QLICI activities will support health related services; |
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xiii Projects serving Targeted Populations
(a) such projects are located in non-Metropolitan Areas ; or |
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(b) such projects are at least 60% owned by members of eligible Targeted Populations; or |
(c) at least 60% of the employees are members of eligible Targeted Populations ; or |
(d) at least 60% of the customers are members of eligible Targeted Populations ; |
| xiv High Migration Rural County (defined as any county which, during the 20 year period ending with the year in which the most recent census was conducted, has a net out-migration of inhabitants from the county of at least 10 percent of the population of the county at the beginning of such period. See IRC §45D(e)(5)); |
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| xv State or local tax-increment financing districts, enterprise zone programs, or other similar state/local programs targeted towards economically distressed communities; i.e., Michigan Brownfield Plan |
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| xvi Census tracts located in non-Metropolitan counties; |
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| xvii Counties for which the Federal Emergency Management Agency (FEMA) has Issued a "major disaster declaration" since July 15, 2005; and Made determination that such County is eligible for both "individual and public assistance;" provided that the initial project investment made within 24 months of the disaster declaration; or |
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| xviii Businesses certified by the Department of Commerce as eligible for assistance under the Trade Adjustment Assistance for Firms (TAA) Program. |
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