- Posted June 09, 2014
- Tweet This | Share on Facebook
Federal tax credits coming for Michigan projects
DETROIT (AP) - A private organization will receive $28 million in federal tax credits for investments tied to a Detroit light rail project and related economic development in the city's downtown and Midtown.
The credits given to Invest Detroit are part of the Treasury Department's New Markets Tax Credit Program and were announced last Thursday by U.S. Sens. Debbie Stabenow and Carl Levin.
The program allows organizations and nonprofits use of the tax credits to attract investors, who help finance community development projects.
The Great Lakes Capital Fund will receive $35 million in credits for projects to revitalize neighborhoods across the state.
Virginia-based Capital Impact Partners is receiving $43 million to help support its national healthy food initiatives, including the Good Food Fund that seeks to increase access to healthy food for Michigan residents.
Published: Mon, Jun 09, 2014
headlines Oakland County
- Whitmer signs gun violence prevention legislation
- Department of Attorney General conducts statewide warrant sweep, arrests 9
- Adoptive families across Michigan recognized during Adoption Day and Month
- Reproductive Health Act signed into law
- Case study: Documentary highlights history of courts in the Eastern District
headlines National
- Protecting Attorney-Client Relationships: ABA advocacy helps safeguard the right to effective assistance of counsel
- Did ‘corporate speak’ and PowerPoint lead to complacency at GM?
- Ex-employee sues Sheppard Mullin over cyberattack exposing sensitive personal data
- Ropes & Gray allows more attorneys to count AI testing toward billable hours
- Plaintiff who filed fraudulent case, trashed desktop computer hit with sanctions
- Man who threatened Supreme Court justices avoids prison time
