Michigan Business Development Program: Compliance Requirements

Awardee must submit periodic reports and provide data necessary for the MSF to report to Michigan legislature on program performance and fund utilization.

Deadline: Frequency and due dates to be specified in the written award agreement

Source: MBDP Program Guidelines §3.22; MCL 125.2088r(3)(c)

Awardee must achieve performance-based milestones and meet specific job creation or investment targets outlined in the written MSF agreement to receive disbursements.

Deadline: Milestones must be met by dates specified in the individual MSF written agreement

Source: MBDP Program Guidelines; MCL 125.2088r(2)(b)(iii)

Awardee must comply with any repayment provisions included in the written MSF agreement if the awardee fails to comply with the agreement terms or fails to meet performance conditions.

Deadline: Upon notice of non-compliance or failure to achieve milestones, repayment terms defined in agreement apply

Source: MCL 125.2088r(2)(b)(iv); MBDP Program Guidelines §3.22

Awardee must verify and document the creation of qualified new jobs (meeting wage and residency requirements) and maintain records demonstrating job creation metrics at time of disbursement and project closeout.

Deadline: At each disbursement request and at final project closeout

Source: MBDP Program Guidelines §3.20 (final headcount verification); MCL 125.2088r(d) definition of qualified new job

Awardee must maintain compliance with all applicable federal, state, and local laws and regulations regarding labor, employment, and environmental matters throughout the award term.

Deadline: Continuous compliance required throughout award agreement term

Source: MBDP Program Guidelines §6; Requirement stated in program compliance language

Awardee must maintain and provide progress reports, due diligence materials, and financial documents throughout the term of the award agreement as specified by MEDC.

Deadline: Upon request and in conjunction with periodic reporting obligations

Source: MBDP Application Guidelines; MBDP Program Guidelines

Awardee must undergo and pass background checks (criminal and civil) for the applicant entity, related entities, and key personnel prior to award execution.

Deadline: Prior to execution of written agreement

Source: MBDP Application Guidelines (sample application document)

The MSF retains the right to conduct audits to verify that all established milestones for the project have been met and that the awardee is in compliance with agreement terms.

Deadline: Audits may be conducted at any time during the award term; awardee must cooperate and provide documentation within timelines requested

Source: MCL 125.2088r(2)(b)(v)