LANSING, MI-- The Michigan Department of Transportation has approved a $4 million loan to help fund repair of flood-damaged roads in Houghton County.
The no-interest loan comes from the Michigan State Infrastructure Bank. It requires approval by the State Administrative Board, and is scheduled to be reviewed at its July 17 meeting.
The Houghton County Road Commission would receive the money over five years. It would allow the commission to expedite numerous road projects to repair flood damage.
The loan is expected to be repaid with Federal Emergency Management Agency funding. Officials say without the SIB loan, construction will be delayed until federal aid is available.