Industrial Park Project in Flint awarded three grants for develo - WNEM TV 5

Industrial Park Project in Flint awarded three grants for development

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FLINT, MI (WNEM) -

An industrial park project in Flint has received some new funding for its development.

The Michigan Strategic Fund Board (MSFB) has awarded three grants to the Buick City Industrial Park Project in Flint.

Buick City was once one of the largest auto manufacturing complexes in the country.

The site was officially closed in 2010 as apart of the of GM bankruptcy and handed over to the RACER Trust.

A transfer of $1 million from the Michigan Community Revitalization Program will provide a $999,900 performance-based grant and $100 for limited liability equity investment to a special purpose entity.

The CS Mott Foundation also provided funding with a $1.5 million grant to the special purpose entity to further due diligence activities.

Once due diligence is finished and the property is acquired, a $5.5 million equity investment will be made by the MSFB.

Along with the MSFB investment, a $15 million equity investment will also be made by the CS Mott Foundation for development and operating activities for the project.

The project will include an environmentally friendly industrial park.

Michigan Senate Minority Leader Jim Ananich issued the following statement about the upcoming project:

This project is really for the next generation of Flint residents who will be drawn in by 140 acres of state-of-the-art space to work and experience the outdoors. We know that jobs will bring folks to Flint, but its projects like these – projects that create a unique sense of place and pride – that keep families here. This is the kind of investment we need to see to revitalize our community.

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