2,210 loans and investments totaling $191.1 million in the district in 2022
Stories from the District
Continuing the Legacy of ‘The Paper City’
Kalamazoo,
Michigan
Local Initiatives Support Corporation
When the owner of RJ’s printing was ready to step down, he didn’t want to pass on the business to just anyone. With the support of a $150,000 LISC acquisition loan, a local graphic designer who got his start on RJ’s Printing’s founding team in 1995 will make sure the printer will serve the community for years to come.
A land development company redeveloped over 250 acres of land in Benton Harbor and St. Joseph as part of a total 500-acre land development. Harbor Shores, a non-profit developer, envision the project as an investment into the future of Southwest Michigan and building are sort community and golf course as a catalyst to support ongoing economic, environmental, and social revitalization efforts.
Michigan Community Capital provided a predevelopment loan in 2021 to Magnus Capital Partners for the purchase of a vacant land and for specific activities to support a 4% Low-Income Housing Tax Credit (LIHTC) applicant for a future ground-up 191-unit affordable housing community in Holland, Michigan. HŌM Flats on East 24th Street will be the fourth HŌM Flats development for Magnus Capital Partners in west Michigan and the second in Holland. Upon completion, the project will include:191 One-bedroom, two-bedroom and three-bedroom units.
Michigan Community Capital and other mission-driven partners supported an expansion of Hudsonville Creamery in Holland, Michigan in 2021. The project included construction of 40,000-square-foot new manufacturing space, the renovation of the cold dock, a new cold storage facility and a new production line. Project is located in a NMTC severely distressed census track with poverty rate of 34.8% and unemployment rate of 10.6% (at the time of closing). New employees were immediately eligible for a semi-annual bonus, a comprehensive healthcare plan (medical, dental and vision), a defined contribution benefit plan with a 5% employer match, and paid time off.\r\nHudsonville Creamery prioritizes hiring locally and taps job placement programs such as 70×7 Life Recovery that places hard-to-employ populations into high-quality jobs.\r\nThe company offers significant on-the-job training and educates its workforce on the operation of computer-controlled production equipment as well as Good Manufacturing Practices (“GMP”), which are critical to businesses in the food and beverages industries.
