Mich. Comp. Laws § 324.19613: Grants and loans under MCL 324.19608; conditions.

Sec. 19613.

Of the funds to be used to provide grants and loans under section 19608(1)(a)( iv ), all of the following conditions apply:

A recipient of a grant shall receive not more than 1 grant per year not to exceed $1,000,000.00 per grant.

A recipient of a loan shall receive a maximum of 1 loan per year not to exceed $1,000,000.00 per loan.

A grant shall be awarded only if the department determines that both of the following apply:

The property is a facility as defined in section 20101.

The proposed development of the property will result in measurable economic benefit in excess of the grant amount requested by the applicant.

A loan shall be awarded only if the department determines that both of the following apply:

The property is a facility as defined in section 20101 or is suspected of being a facility.

The property has economic development potential based on the applicant's planned use of the property.