Appropriations Requests for : Michigan Saves

1. Cosponsoring legislators:

No Cosponsors

Recipient Information

2. Intended legislatively directed spending item recipient:

Michigan Saves

3. Physical address of legislatively directed spending item recipient and the intended location of the project or activity:

230 N. Washington Square, Lansing, MI 48933, Funding will be utilized statewide, including in the two counties I represent.

4. The recipient's employer identification number:

271388004

Funding Details

5. Requested amount of the legislatively directed spending item:

$5,000,000.00

6. What is the purpose and how does the legislatively directed spending item provide a public benefit that is an appropriate use of taxpayer money?

Michigan Saves will use these legislatively directed funds to strengthen the Michigan Saves loan loss reserve fund (LLR). Michigan Saves will deposit the funds into its existing LLR to leverage private capital that funds residential and commercial energy efficiency and renewable energy loans. For every $1 in LLR, Michigan Saves can leverage approximately $30 in private capital for residential and commercial energy loans. Michigan Saves partners with eight Michigan-based credit unions that provide all the loan capital for our residential financing program. With this investment, Michigan Saves will expand access to affordable financing for energy and healthy home improvements through our partnerships with Michigan credit unions and contractors. And with over 1,400 authorized contractors in our network, Michigan Saves creates economic opportunity throughout the state.

7. Has the legislatively directed spending item previously received or been awarded any of the following types of funding in the past 5 years?

✓ Yes: State Funding

Amount received: $17,000,000.00

8. Estimated time frame for completion of the legislatively directed spending item project:

Funds will be utilized in the Fiscal year for which they are appropriated

Additional Information For Nonprofit Corporations

9. Is the recipient a nonprofit corporation?

Yes

4. Officers and active members on the board of directors:

Paul Schutt Rose Tantraphol Selma Tucker David Wible Drew Smith Angela Thompkins Terri Schroeder Michael Larson Bryan Lewis Alina Verdiyan Jason Matley Amanda Godward Karen Gould (non voting)

Certification By Sponsoring Legislator

• "I certify that my immediate family members, legislative staff members, and I have no direct or indirect pecuniary interest in the requested legislatively directed spending item."
• "I certify that the intended recipient of this legislatively directed spending item is not a for-profit entity."
• "I certify that the information in this form is true to the best of my knowledge."

Senator Mary Cavanagh