HANCOCK, MI-- The Michigan Department of Transportation has approved a $756,136 loan to help repair flood-damaged streets in Hancock.
The no-interest loan comes from the Michigan State Infrastructure Bank. The city will receive the funds on a five-year term and will repay it from its general fund. The loan will help Hancock meet its 20 percent match for Federal Highway Administration funds used to repair water-damaged roads.
Hancock was among the areas in Houghton County, along with Menominee and Gogebic counties, declared a "state of disaster" by former Governor Rick Snyder in June 2018. Numerous city streets and roads were heavily damaged by extreme runoff and flooding following intense rain on June 16-17.
By declaring a state of disaster, the State of Michigan makes available all state resources in cooperation with local response and recovery efforts in the disaster area.
