Develop Michigan

To provide debt financing to creditworthy projects and to provide financial and technical capacity to both for-profit and nonprofit development sponsors.develop Michigan, Inc. was asked to underwrite, close, loan service and asset manage a large loan issued under the state of Michigan's community revitalization program. This program is the replacement for the Michigan state historic and brownfield tax credit programs and provides capital for projects that meet certain policy objectives of the Michigan economic development corporation. The name of this specific deal that Develop Michigan is performing these services for is known as the 1212 griswold, detroit, Michigan property ("griswold lofts"), in the capitol park district. Griswold lofts is a high impact rehabilitation of a mixed use commercial, residential property in detroit, Michigan. Total development costs are $37.6 million. The property includes 56 residential units and 44,000 square feet of office space. The capitol park district, the site of the state's original capitol building until 1847, is one of the oldest continually active neighborhoods in downtown detroit. The building was listed as a part of the capitol park historic district on the national register of historic places in 1999 and contributes to the capitol park historic district. Dmi continues to pursue other crp opportunities with the state of michigan.develop Michigan, Inc. In its capacity as the general partner of the Develop Michigan real estate fund has played an active role in lending activities of the Develop Michigan real estate fund (the "fund"). The fund has closed on a number of loans which have yielded a positive impact to the state of Michigan economy. As of december 31, 2015, these loans have generated substantial economic activity including the creation or retention of 973 direct operations jobs, $38.5 million in annual average economic output, and $5.7 million in annual operational tax revenue.

To promote economic development real estate projects and the creation of wealth and job opportunities within the state of Michigan. Develop Michigan, Inc will promote and facilitate investment of private and public capital in the form of equity or loans to business and organizations located within the state of Michigan

Earning of management fee income for providing financing to creditworthy projects fulfilling the exempt purpose of Develop Michigan, Inc and providing financial and technical capacity to development sponsors