Community Development Resources
Buena Vista Business License Application
Buena Vista High School Renovations Checklist
Buena Vista High School RFP
Buena Vista High School Floor Plan
Buena Vista Town Center Opportunity
Buena Vista Town Center Development Proposal Requirements
Economic and Community Development Strategy
Development Plan and Tax Increment Financing Plan
Capital Improvements Plan (CIP)
Development Application Fee Schedule
Buena Vista Public Participation Plan
Buena Vista Marketing Plan
Conceptual Meeting Checklist
BVCT Guide To Development
Tax-Exempt Industrial Development Revenue Bonds
The Michigan Strategic Loan Fund can provide the maximum allowable use of Industrial Development Revenue Bonds financing. IDRBs lower the cost of borrowing to approximately 70% to 80% of the prime rate for eligible capital expenditures. This is due to the federal tax exemption on interest paid to the bond borrower (and state taxes in certain cases). Use of bond proceeds is limited to acquisition of land, machinery and equipment; and construction, renovations or acquisition of buildings.
Pollution Control Tax Exemption
Air and industrial water pollution control facilities are exempt from sales, use, and property taxes in Michigan. "Facility" means any machinery, equipment, structure, any part, or accessory used for the primary purpose of controlling or disposing of air or industrial water pollution. The Michigan Department of Environmental Quality (DEQ) is responsible for determining what property is eligible.
There are two separate applications for air and water pollution control, which should be submitted to the Michigan Department of Treasury for processing. As part of the process, the DEQ will review the application submitted to the Michigan Department of Treasury and local governmental units will also receive a copy of the application. Water pollution facilities should use Form 891 and air pollution facilities should use Form 3828. This certification process is used for both the sales tax and property tax exemptions. The exemptions do not take effect until approved by the state agency.
Taxable Revenue Bond
The Taxable Revenue Bond (TRB) provides companies with potentially longer term financing (10-20 years), often at a fixed rate and lower cost than conventional financing, and is exempt at the state and local level if purchased by Michigan taxpayers. These bonds are not restricted by the IRS, and can be used to finance projects of more than $10 million. They can be used as working capital and to finance commercial, pollution control, agricultural and recreational projects.
Small Business Administration 504 Loans
The federal government’s Single Business Administration 504 loan program can provide subordinated, fixed-asset financing at long-term Treasury bond rates for qualified small businesses and enterprises. Loans are limited to the lesser of $750,000 or 40% of project financing requirements.
Small Business Administration 7(a) Loans
The federal government’s SBA 7(a) loan program helps start-up and existing small businesses in obtaining a loan guarantee to enhance conventional financing. Businesses apply for SBA 7(a) through a financial institution that submits the application to the SBA.
Michigan State Venture Capital
The Alternative Investments Division of the Michigan Department of Treasury offers a pool of venture capital for qualified, fast-growing companies seeking equity funding. Typically, the venture capital program is used to support new, high-tech companies on the cutting edge of industrial technology.
Tax Increment Financing
Tax increment-financing captures taxes generated from new capital investment except school millage and debt millage. The "capture" can be used for a variety of purposes including, but not limited to, project-related infrastructure improvements, i.e. road, water, sewer and site development (such as land balancing, mass grading and landscaping). Tax increment financing can be used through a Local Finance Development Authority, a Downtown Development Authority or a Brownfield Redevelopment Authority.
Michigan Community Revitalization Program
The Michigan Community Revitalization Program is a new incentive program available from the Michigan Strategic Fund (MSF), in cooperation with the Michigan Economic Development Corporation (MEDC), designed to promote community revitalization that will accelerate private investment in areas of historical declining values, contribute to Michigan's reinvention as a vital, job generating state, foster redevelopment of functionally obsolete or historic properties, reduce blight, and protect natural resources. The program is designed to provide grants, loans, or other economic assistance for eligible investment projects.
Properties eligible can receive support not to exceed 25% of total eligible investment for a single project which is not to exceed $10,000,000 for loan agreements or $1,000,000 for grant agreements or $10,000,000 for a combination of support of the total eligible investment for a single project.
Critical Industry Program (CIP)
The Critical Industry Program through the Michigan Economic Development Corporation (MEDC) provides qualified investments to qualified businesses for deal-closing, gap financing, or other economic assistance to create or retain qualified jobs as a result of a technological shift in product or production or make capital investments, or both, in Michigan.
Critical Industry Program Guidelines
Jobs Ready Michigan
The Jobs Ready Michigan program was created by the Michigan Strategic Fund to meet the talent needs of companies that are expanding or relocating to Michigan. The program is designed to be flexible and responsive to the specific talent needs of companies and to address the costs associated with recruiting and training individuals for occupations that are high-wage, high-skill, or high-demand.
Program awards may be used for a variety of activities related to talent recruitment and job training including, but not limited to, employee recruitment expenses, development of customized training development plans, instructor and training materials costs, purchase of equipment related to training, construction of training facilities, and on-the job training costs.
Consumers Energy provides substantial business energy savings rebates that are available for achieving energy efficiency in both existing and new buildings. Consumers Energy can assist with energy audits and a walk through to identify potential energy efficiency projects:
Consumer’s Energy Business Rates
Area Development Resources:
Discover Great Lakes Bay
Saginaw County Public Works/Drain Office
Saginaw County Road Commission
MISS DIG 811 Michigan Website
For more information on taxes/incentives local specifically to Buena Vista Charter Township, please contact our Treasury Department.