Invest Detroit manages the following funds to support community and economic development in the City of Detroit.
The Detroit Investment Fund (DIF) is a source of private sector financing designed to be a catalyst for investment in Detroit by financing qualified commercial projects and entities to stimulate economic development and job creation.
» More info
The Lower Woodward Housing Fund (LWHF) is a $20 million fund intended to promote the development of a downtown neighborhood through loans to qualified residential and mixed-use projects that will significantly increase the residential population of Detroit’s downtown core.
» More info
The Detroit Urban Retail Loan Fund (URLF) is a revolving loan program intended to stimulate economic growth and support for residential and neighborhood development in Detroit’s Greater Downtown area by providing loans to neighborhood-based retail, service, and storefront businesses. These businesses, in turn, will provide necessary goods and services to the neighborhood, create and retain jobs, and promote a high quality of life.
» More info
Predevelopment Funds are intended to act as a catalyst for commercial, residential and mixed-use development projects in targeted areas in the City of Detroit.
» More info
The New Markets Tax Credit (NMTC) Program attracts private businesses and development by offering tax credits worth 39% of the value of the investment in low income communities, claimable over seven years. Invest Detroit CDE has received a $40 million NMTC allocation for 2009 from the U.S. Treasury’s CDFI Fund.
» More info
The First Step Fund represents a partnership of the Invest Detroit Foundation, TechTown and Ann Arbor SPARK intended to support a revolving loan pool to provide financing to emerging and newly-formed small businesses in southeast Michigan that have successfully completed a training program through a qualified regional business incubator/accelerator.
» More info