{"id":49442,"date":"2026-04-28T19:19:21","date_gmt":"2026-04-28T16:19:21","guid":{"rendered":"https:\/\/mk.gen.tr\/michigan-lawmakers-unite-behind-redevelopment-tax-credit-plan\/"},"modified":"2026-04-28T19:19:21","modified_gmt":"2026-04-28T16:19:21","slug":"michigan-lawmakers-unite-behind-redevelopment-tax-credit-plan","status":"publish","type":"post","link":"https:\/\/mk.gen.tr\/tr\/michigan-lawmakers-unite-behind-redevelopment-tax-credit-plan\/","title":{"rendered":"Michigan lawmakers unite behind redevelopment tax credit plan"},"content":{"rendered":"

A coalition of community organizations, economic development leaders and housing advocates across Michigan<\/a> is backing bipartisan legislation aimed at revitalizing vacant, blighted and historic properties statewide.<\/p>\n

The proposal \u2014 a package of State Senate and House bills \u2014 would create a Community Redevelopment Tax Credit (CRTC) to attract private investment and support redevelopment in downtowns, neighborhoods and commercial corridors.<\/p>\n

Supporters say the effort comes at a critical time, as key state funding sources expire and demand continues to exceed available resources.<\/p>\n

Backers describe the credit<\/a> as a revival of a previously used economic development tool that helped address blight, rehabilitate historic structures and advance community redevelopment.<\/p>\n

\u201cCommunities across Michigan are working hard to redevelop vacant and underutilized buildings that hold enormous potential,\u201d said Sam Singh (D-East Lansing), the Michigan Senate Majority Floor Leader. \u201cThe Community Redevelopment Tax Credit creates a consistent, accountable tool to close financing gaps and move projects from concept to construction<\/a>.\u201d<\/p>\n

The proposal would authorize up to $200 million annually in tax credits, awarded only after project completion \u2014 a structure supporters say ensures accountability.<\/p>\n

\u201cRedevelopment projects are often complex and costly, especially when they involve older or contaminated properties,\u201d said State Rep. Mark Tisdel (R-Rochester Hills). \u201cThis legislation gives communities a practical tool to overcome those barriers and return long-vacant sites to productive use.\u201d<\/p>\n

Developments in historic buildings, rural communities<\/a> and low- to moderate-income areas would qualify for enhanced credits, while at least 20% of funding would be set aside for small or rural projects.<\/p>\n

Supporters say the measure would also help Michigan compete with neighboring states that already offer similar incentives to attract private investment.<\/p>\n

\u201cI am proud to be part of this important legislation that will help us continue revitalizing Detroit<\/a>\u2019s neighborhoods and addressing the housing crisis,\u201d said State Sen. Stephanie Chang (D-Detroit). \u201cAcross the city, redevelopment is strengthening commercial corridors and expanding access to much-needed attainable housing.\u201d<\/p>\n

Michigan currently relies on grant and loan programs tied to annual appropriations, which have struggled to meet demand in recent years, leaders added.<\/p>\n

The CRTC would also encourage projects that leverage federal incentives.<\/p>\n

\u201cIt\u2019s critical for Michigan to have tools that allow us to compete for private and federal investment,\u201d said Eric Hanna, president and CEO of Michigan Community Capital<\/strong>. \u201cThe CRTC creates a predictable framework that helps developers and lenders bring high impact, but complex projects to fruition.\u201d<\/p>\n

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.<\/em><\/p>","protected":false},"excerpt":{"rendered":"

A coalition of community organizations, economic development leaders and housing advocates across Michigan is backing bipartisan legislation aimed at revitalizing vacant, blighted and historic properties statewide. The proposal \u2014 a package of State Senate and House bills \u2014 would create a Community Redevelopment Tax Credit (CRTC) to attract private investment and support redevelopment in downtowns,…<\/p>","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/posts\/49442"}],"collection":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/comments?post=49442"}],"version-history":[{"count":0,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/posts\/49442\/revisions"}],"wp:attachment":[{"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/media?parent=49442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/categories?post=49442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mk.gen.tr\/tr\/wp-json\/wp\/v2\/tags?post=49442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}