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Eligible Areas

Not all areas of Michigan are eligible for a MMF project. Please use the following process to see if your proposed area fits the criteria before applying for pre-approval. The determination of eligibility is a multi step process. MMF has signed an agreement with the CDFI Fund to use the criteria shown below. The Eligible areas are defined by the attached Eligible Low IncomeCommunity Criteria. We need you to complete it and submit it with your preapplication. All of the eligible NMTC census tracts are listed in a table whose link can be found below:

How to Find New Market Tax Credit Eligible Areas:
To determine whether a particular area is eligible for New Market Tax Credits, go to the following census bureau site to find the census tract number. You start by entering the address of the site. Look up the Census Tract number.


Next, use the "NMTC Eligible Michigan Census Tracts.xls" excel table. This chart contains every eligible census tract in the state of Michigan. If you don't have Excel installed you may use the free Microsoft Excel Viewer.

In the Excel spreadsheet select the name of the metropolitan area with the arrow in the column titled MSA Heading then look up the

census tract number by putting the cursor on the arrow in the Census Tract heading and selecting the number.

The Census Tract number you are looking for is the last number to the right. The first two (2) numbers represent the state (26) and the second three numbers represent the County. The number "1" in the NMTC column indicates the eligible tracts.

If you need a more assistance you can follow the more detailed instructions.

The following are for different areas of the state - This may help you quickly determine if your location is in a qualified area. However, to be sure please follow the process we have outlined above to be accurate.

State of Michigan
Benton Harbor
Detroit
Detroit Metro Area
Flint
Kalamazoo

Lansing
Grand Rapids
Northern Lower Peninsula
Saginaw
Western Michigan
Upper Peninsula

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

(2)   Characterized by at least two of items (iv) - (xviii) on the list below for each QLICI (Check 2):

i - Census tracts with poverty rates greater than 30 percent ; or

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):

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;

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;

vii Brownfield sites as defined under 42 U.S.C. 9601(39);

viii Areas encompassed by a HOPE VI Redevelopment Plan;

ix Federally designated as Native American or Alaskan Native areas, Hawaiian Homelands, or redevelopment areas by the appropriate Tribal or other authority;

x Areas designated as distressed by the Appalachian Regional Commission or Delta Regional Authority;

xi Colonias areas as designated by the U.S. Department of  Housing and Urban Development;

xii Federally designated medically underserved areas, to the extent that QLICI activities will support health related services;

xiii Projects serving Targeted Populations

(a) such projects are located in non-Metropolitan Areas ; or

(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));

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

xvi Census tracts located in non-Metropolitan counties;

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

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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