{"id":12018,"date":"2022-10-03T17:51:25","date_gmt":"2022-10-03T17:51:25","guid":{"rendered":"https:\/\/www.investupmi.com\/?page_id=12018"},"modified":"2026-05-21T10:34:30","modified_gmt":"2026-05-21T14:34:30","slug":"building-the-u-p","status":"publish","type":"page","link":"https:\/\/www.investupmi.com\/index.php\/building-the-u-p\/","title":{"rendered":"Building the U.P."},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"12018\" class=\"elementor elementor-12018\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-039396c elementor-section-full_width elementor-section-height-min-height elementor-hidden-phone elementor-section-height-default elementor-section-items-middle\" data-id=\"039396c\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;6a1f985&quot;,&quot;jet_parallax_layout_image_laptop&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-58e8b63\" data-id=\"58e8b63\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-05eae4b elementor-absolute elementor-widget elementor-widget-image\" data-id=\"05eae4b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1920\" height=\"224\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2019\/03\/header_ip_curv.png\" class=\"attachment-full size-full wp-image-328\" alt=\"single banner\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-754a445 header-text-box elementor-widget elementor-widget-text-editor\" data-id=\"754a445\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><img decoding=\"async\" class=\"size-full wp-image-12545 alignnone\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2020\/06\/Build_UP_logo_white.png\" alt=\"build up logo\" width=\"240\" height=\"127\" \/><\/p><p>InvestUP is partnering with developers, lenders and government to increase workforce housing across the region.<\/p><p><a href=\"https:\/\/www.investupmi.com\/index.php\/build-up-projects\/\" target=\"_blank\" rel=\"noopener\">View projects Build U.P. has closed.<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6a26df7 elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-laptop elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6a26df7\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;a4a4e01&quot;,&quot;jet_parallax_layout_image_laptop&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e4e767c\" data-id=\"e4e767c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bb938e6 elementor-widget elementor-widget-image\" data-id=\"bb938e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"400\" height=\"266\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2023\/06\/BUP-page-header-mobile.jpg\" class=\"attachment-large size-large wp-image-12501\" alt=\"family spending time together outside their home\" srcset=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2023\/06\/BUP-page-header-mobile.jpg 400w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2023\/06\/BUP-page-header-mobile-300x200.jpg 300w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c30bb33 header-text-box elementor-widget elementor-widget-text-editor\" data-id=\"c30bb33\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"vc_custom_heading\">InvestUP is partnering with developers, lenders and government to increase workforce housing across the region.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e697649 elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e697649\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;2833958&quot;,&quot;jet_parallax_layout_image_laptop&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7d79af6\" data-id=\"7d79af6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a221ae0 elementor-widget elementor-widget-image\" data-id=\"a221ae0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"420\" height=\"223\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2023\/06\/Build-UP-with-TM300x600.png\" class=\"attachment-large size-large wp-image-12505\" alt=\"build up logo\" srcset=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2023\/06\/Build-UP-with-TM300x600.png 420w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2023\/06\/Build-UP-with-TM300x600-300x159.png 300w\" sizes=\"(max-width: 420px) 100vw, 420px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-009edf2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"009edf2\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;cf6f98c&quot;,&quot;jet_parallax_layout_image_laptop&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_laptop&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-eeb222c\" data-id=\"eeb222c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d2233e elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"4d2233e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">InvestUP announces Build U.P., a housing fund to help fast-track high impact shovel-ready housing projects<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c70402 elementor-widget elementor-widget-text-editor\" data-id=\"7c70402\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>MARQUETTE, MI (July 5, 2023 )&nbsp; InvestUP announces the launch of Build U.P. to address the Upper Peninsula\u2019s immediate need for housing and provide the region with a long-term, sustainable fund to solve future housing challenges. Awards from the fund, which will total up to $15 million are available now. The priority of Build U.P. is to expedite the construction of shovel-ready housing projects in the Upper Peninsula. Developers and U.P. lenders can learn more about the fund on the InvestUP website.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b228f57 elementor-widget elementor-widget-text-editor\" data-id=\"b228f57\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Houghton City Manager, Eric Waara says, \u201cThis fund will provide developers with the financing they need to move many projects forward more quickly. Everyone wins.\u201d<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3aa8eb elementor-widget elementor-widget-text-editor\" data-id=\"c3aa8eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-size: 1rem;\">The fund was created in response to several regional economic polls and surveys. These surveys consistently identified the Upper Peninsula&#8217;s current lack of professional and workforce housing as the biggest economic obstacle facing the region. The studies provided evidence for a request to State of Michigan policymakers which awarded InvestUP up to $15 million to manage the sustainable fund.<\/span><\/p><p>\u201cThis fund creates a win-win-win for the Upper Peninsula,\u201d said InvestUP CEO Marty Fittante. \u201cBuild U.P. will help developers move housing projects over the finish line faster. An increase in available housing will assist Upper Peninsula employers in attracting and retaining talent, which in turn will help boost regional population levels.\u201d From Sault St. Marie to Houghton, InvestUP has already identified several housing projects with the potential to address critical needs in their communities.<\/p><p>Over the past year, InvestUP reached out to developers, lenders, municipalities, and subject matter experts to better understand the barriers that stood in the way of development. Two consistent challenges emerged: collateral shortfalls by borrowers and the cost of public infrastructure. InvestUP has created three programs to address these issues:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14457fe elementor-widget elementor-widget-text-editor\" data-id=\"14457fe\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div><p data-olk-copy-source=\"MessageBody\">At the present time, Build U.P. has fully invested all available funds and is not accepting applications.\u00a0 If you are at the early stages of project planning and interested in our program, please contact <a href=\"mailto:manager@buildupmi.com\" target=\"_blank\" rel=\"noopener\">manager@buildupmi.com<\/a> as funding will become available in 2027.\u00a0<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89932ab elementor-widget__width-inherit elementor-align-left elementor-widget elementor-widget-button\" data-id=\"89932ab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.investupmi.com\/index.php\/build-u-p-program-objectives-products-and-principles\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Guidelines: READ BEFORE APPLYING<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-491df9d elementor-widget elementor-widget-text-editor\" data-id=\"491df9d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Cash Collateral Program<\/strong> provides cash collateral to enhance U.P. lending institution funding. Recipients must partner with a local lending institution to access funds.\u00a0Funds may cover all or a portion of a calculated shortfall (as described by the lending institution).<\/li><li><strong>Equity Participation Program<\/strong> invests equity into qualified housing projects when a Lender determines that real cash equity from the Borrower is insufficient to finance the construction of the project.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-45499db elementor-widget__width-initial elementor-align-center elementor-widget elementor-widget-button\" data-id=\"45499db\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2025\/01\/Pre-Application-Cash-Collateral-and-Equity-Participation-Programs-SAMPLE.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Pre-Application: Build U.P. Cash Collateral Program and Equity Participation Program (SAMPLE APPLICATION)<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b81adb3 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"b81adb3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong style=\"background-color: transparent;\">Residential Infrastructure Loan Program<\/strong><span style=\"background-color: transparent;\"> provides financial assistance to Upper Peninsula cities, villages, counties, and townships to facilitate infrastructure extensions to new residential or rehabilitated housing; such as water, sewer, and road improvements.\u00a0 Build U.P. will loan the local unit of government funds by purchasing their bonds at interest rates favorable to the local unit.\u00a0\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10f7df9 elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"10f7df9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/wp-content\/uploads\/2024\/02\/Pre-Application-Residential-Infrastructure-Program-SAMPLE.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Pre-Application: Build U.P. Infrastructure Program (SAMPLE APPLICATION)<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-85fc040 elementor-widget elementor-widget-spacer\" data-id=\"85fc040\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71be456 elementor-widget__width-initial elementor-align-left elementor-widget elementor-widget-button\" data-id=\"71be456\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"mailto:manager@buildupmi.com\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Interested in applying? Please reach out to manager@buildupmi.com<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-64a338f elementor-widget elementor-widget-spacer\" data-id=\"64a338f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-12ddcd9 elementor-widget__width-auto elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-button\" data-id=\"12ddcd9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/portal.buildupmi.com\/login\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply Now Online<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-472fde0 elementor-widget elementor-widget-text-editor\" data-id=\"472fde0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>InvestUP is managing Build U.P. as a long-term, sustainable fund to provide impact in addressing the UP-wide lack of housing. This innovative approach received strong support from the Michigan legislature and administration. Instead of one-time grants that would rapidly deplete the fund, Build U.P. investments will pay a modest return that will sustain the fund over time while still incentivizing development.<\/p><p>Questions? Please email <a href=\"mailto:manager@buildupmi.com\">manager@buildupmi.com<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-eeaba92\" data-id=\"eeaba92\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-83895ba elementor-widget elementor-widget-heading\" data-id=\"83895ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Build U.P. Programs Explained<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa56317 elementor-widget elementor-widget-video\" data-id=\"aa56317\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;video_type&quot;:&quot;vimeo&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<iframe class=\"elementor-video-iframe\" allowfullscreen allow=\"clipboard-write\" title=\"vimeo Video Player\" src=\"https:\/\/player.vimeo.com\/video\/850665276?color&amp;autopause=0&amp;loop=0&amp;muted=0&amp;title=1&amp;portrait=1&amp;byline=1#t=\"><\/iframe>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9604e9f elementor-widget elementor-widget-heading\" data-id=\"9604e9f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Q &amp; A<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34b28b0 elementor-widget elementor-widget-toggle\" data-id=\"34b28b0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5521\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-5521\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is Build U.P.?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5521\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-5521\"><p>Build U.P. is a fund of up to $15 million intended to advance housing opportunities designed to grow the population in the Upper Peninsula. <span data-slate-fragment=\"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\">State of Michigan-awarded funds administered through\/managed by Build U.P. leverage investments for shovel-ready housing developments that are deemed critical to U.P. communities.<\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5522\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-5522\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How will InvestUP manage Build U.P.?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5522\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-5522\"><p>A separate nonprofit subsidiary of InvestUP has been created to oversee fund allocation. Please see question 11 about who is managing the fund.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5523\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-5523\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Will the fund award recipients any grants?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5523\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-5523\"><p class=\"paragraph\" style=\"margin: 0in; vertical-align: baseline;\">No. The fund is intended to be sustainable long-term. Awards to recipients are made with an agreement that the recipient will return or repay the original awarded amount.\u00a0 Interest rates and fees will be favorable to the borrower.\u00a0 Investment returns to Build U.P. will be revolved into new projects.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5524\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-5524\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Where did the money come from?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5524\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-5524\"><p>\u00a0On July 11, 2022, the Michigan Legislature, as part of a bipartisan budget agreement, appropriated $15 million to establish the Fund through House Bill 5783. That bill was signed into law by Gov. Gretchen Whitmer on July 20, 2022.\u00a0<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5525\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-5525\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">This the first time InvestUP has been entrusted with funds or grants?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5525\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-5525\"><p>No. For example, InvestUP served as fiduciary of $7.2 million in state-based pandemic assistance grants, which was delivered to more than 1,100 unique businesses throughout each of the Upper Peninsula\u2019s 15 counties in a timely and compliant manner.\u00a0<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5526\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-5526\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Do companies have to return or pay back what is received from the fund?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5526\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-5526\"><p>Yes, please see question 3 above.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5527\" class=\"elementor-tab-title\" data-tab=\"7\" role=\"button\" aria-controls=\"elementor-tab-content-5527\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What does Build U.P. consider high priority as it reviews projects?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5527\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"region\" aria-labelledby=\"elementor-tab-title-5527\"><ul><li>An equitable geographic distribution of funds invested.<\/li><li>Shovel-ready projects.<\/li><li>Developments that appeal to increasing the regional population.<\/li><li>Developments that can demonstrate a relationship to job growth.<\/li><li>Projects where a municipality is willing to partner in the project.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5528\" class=\"elementor-tab-title\" data-tab=\"8\" role=\"button\" aria-controls=\"elementor-tab-content-5528\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is considered a shovel-ready project?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5528\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"8\" role=\"region\" aria-labelledby=\"elementor-tab-title-5528\"><ul><li>Necessary government permits and land\/project ownership is secured<\/li><li>Financing is committed, with the exception of closing \u201cgaps.\u201d<\/li><li>The project can be started within the next 18 months.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-5529\" class=\"elementor-tab-title\" data-tab=\"9\" role=\"button\" aria-controls=\"elementor-tab-content-5529\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Who is eligible to apply for funding?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-5529\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"9\" role=\"region\" aria-labelledby=\"elementor-tab-title-5529\"><ul><li>Any developer looking to build a housing development in the U.P. that has a qualified financial institution partner.<\/li><li>A qualified financial institution on behalf of an eligible borrower.<\/li><li>A local unit of government that that seeks infrastructure improvements that support a housing project.<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-55210\" class=\"elementor-tab-title\" data-tab=\"10\" role=\"button\" aria-controls=\"elementor-tab-content-55210\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Can eligible applicants submit multiple applications for simultaneous development projects across the U.P.?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-55210\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"10\" role=\"region\" aria-labelledby=\"elementor-tab-title-55210\"><p>Yes<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-55211\" class=\"elementor-tab-title\" data-tab=\"11\" role=\"button\" aria-controls=\"elementor-tab-content-55211\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Who is managing the fund?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-55211\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"11\" role=\"region\" aria-labelledby=\"elementor-tab-title-55211\"><p>InvestUP has established Build U.P., a separate non-profit entity governed by a separate board of directors and subject matter experts who will oversee policy and approve projects. Board members:<\/p><ul><li><strong>Fund Manager: Steve Arwood<\/strong> &#8211; Former President and CEO of the Michigan Economic Development Corporation and former President and Chairman of the Michigan Strategic Fund.<\/li><li><strong>Board President: Dave Nyberg<\/strong>\u00a0\u2013 NMU<\/li><li><strong>Board Treasurer: Todd LaFave<\/strong>\u00a0\u2013 Todd C. LaFave, CPA, PC<\/li><li><strong>Board Vice Chair: Steve Vairo<\/strong>\u00a0\u2013 Calumet Electronics<\/li><li><strong>Ronald Meister<\/strong>\u00a0\u2013 Retired CEO of Central Savings Bank<\/li><li><strong>Dave Vlahos<\/strong>\u00a0\u2013 Retired CEO of Superior National Bank<\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-55212\" class=\"elementor-tab-title\" data-tab=\"12\" role=\"button\" aria-controls=\"elementor-tab-content-55212\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Are there limitations to the funding amount one project can receive?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-55212\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"12\" role=\"region\" aria-labelledby=\"elementor-tab-title-55212\"><p>Yes. Current guidelines are as follows:<\/p><p><u>Cash Collateral Program<\/u><\/p><p>The maximum size of each cash collateral award for an eligible single project cannot exceed 10% of total project costs (based on the lessor of total project costs or appraised value), with a minimum size of $50,000 and a maximum of $1,500,000 per award.<\/p><p><u>Residential Infrastructure Loan Program<\/u><\/p><p>A bond purchased by Build U.P. shall be no less than $250,000 and no more than $1 million, with a repayment term of 15 years.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-55213\" class=\"elementor-tab-title\" data-tab=\"13\" role=\"button\" aria-controls=\"elementor-tab-content-55213\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How do eligible applicants access Build U.P. funding?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-55213\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"13\" role=\"region\" aria-labelledby=\"elementor-tab-title-55213\"><p>Parties interested in the Cash Collateral Program or the Residential Infrastructure Loan Program may access the necessary forms by clicking the buttons on the page to the left. You can either fill out the form online or download a fillable PDF.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-55214\" class=\"elementor-tab-title\" data-tab=\"14\" role=\"button\" aria-controls=\"elementor-tab-content-55214\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-left\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-caret-right\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Can the Cash Collateral program be used for a collateral shortfall with a mixed-use development?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-55214\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"14\" role=\"region\" aria-labelledby=\"elementor-tab-title-55214\"><p>Yes. However, the majority of the overall development must be dedicated to housing development.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is Build U.P.?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Build U.P. is a fund of up to $15 million intended to advance housing opportunities designed to grow the population in the Upper Peninsula. <span 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of Michigan-awarded funds administered through\\\/managed by Build U.P. leverage investments for shovel-ready housing developments that are deemed critical to U.P. communities.<\\\/span><\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"How will InvestUP manage Build U.P.?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>A separate nonprofit subsidiary of InvestUP has been created to oversee fund allocation. Please see question 11 about who is managing the fund.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"Will the fund award recipients any grants?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p class=\\\"paragraph\\\" style=\\\"margin: 0in; vertical-align: baseline;\\\">No. The fund is intended to be sustainable long-term. Awards to recipients are made with an agreement that the recipient will return or repay the original awarded amount.\\u00a0 Interest rates and fees will be favorable to the borrower.\\u00a0 Investment returns to Build U.P. will be revolved into new projects.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"Where did the money come from?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>\\u00a0On July 11, 2022, the Michigan Legislature, as part of a bipartisan budget agreement, appropriated $15 million to establish the Fund through House Bill 5783. That bill was signed into law by Gov. Gretchen Whitmer on July 20, 2022.\\u00a0<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"This the first time InvestUP has been entrusted with funds or grants?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>No. For example, InvestUP served as fiduciary of $7.2 million in state-based pandemic assistance grants, which was delivered to more than 1,100 unique businesses throughout each of the Upper Peninsula\\u2019s 15 counties in a timely and compliant manner.\\u00a0<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"Do companies have to return or pay back what is received from the fund?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Yes, please see question 3 above.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"What does Build U.P. consider high priority as it reviews projects?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<ul><li>An equitable geographic distribution of funds invested.<\\\/li><li>Shovel-ready projects.<\\\/li><li>Developments that appeal to increasing the regional population.<\\\/li><li>Developments that can demonstrate a relationship to job growth.<\\\/li><li>Projects where a municipality is willing to partner in the project.<\\\/li><\\\/ul>\"}},{\"@type\":\"Question\",\"name\":\"What is considered a shovel-ready project?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<ul><li>Necessary government permits and land\\\/project ownership is secured<\\\/li><li>Financing is committed, with the exception of closing \\u201cgaps.\\u201d<\\\/li><li>The project can be started within the next 18 months.<\\\/li><\\\/ul>\"}},{\"@type\":\"Question\",\"name\":\"Who is eligible to apply for funding?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<ul><li>Any developer looking to build a housing development in the U.P. that has a qualified financial institution partner.<\\\/li><li>A qualified financial institution on behalf of an eligible borrower.<\\\/li><li>A local unit of government that that seeks infrastructure improvements that support a housing project.<\\\/li><\\\/ul>\"}},{\"@type\":\"Question\",\"name\":\"Can eligible applicants submit multiple applications for simultaneous development projects across the U.P.?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Yes<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"Who is managing the fund?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>InvestUP has established Build U.P., a separate non-profit entity governed by a separate board of directors and subject matter experts who will oversee policy and approve projects. Board members:<\\\/p><ul><li><strong>Fund Manager: Steve Arwood<\\\/strong> &#8211; Former President and CEO of the Michigan Economic Development Corporation and former President and Chairman of the Michigan Strategic Fund.<\\\/li><li><strong>Board President: Dave Nyberg<\\\/strong>\\u00a0\\u2013 NMU<\\\/li><li><strong>Board Treasurer: Todd LaFave<\\\/strong>\\u00a0\\u2013 Todd C. LaFave, CPA, PC<\\\/li><li><strong>Board Vice Chair: Steve Vairo<\\\/strong>\\u00a0\\u2013 Calumet Electronics<\\\/li><li><strong>Ronald Meister<\\\/strong>\\u00a0\\u2013 Retired CEO of Central Savings Bank<\\\/li><li><strong>Dave Vlahos<\\\/strong>\\u00a0\\u2013 Retired CEO of Superior National Bank<\\\/li><\\\/ul>\"}},{\"@type\":\"Question\",\"name\":\"Are there limitations to the funding amount one project can receive?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Yes. Current guidelines are as follows:<\\\/p><p><u>Cash Collateral Program<\\\/u><\\\/p><p>The maximum size of each cash collateral award for an eligible single project cannot exceed 10% of total project costs (based on the lessor of total project costs or appraised value), with a minimum size of $50,000 and a maximum of $1,500,000 per award.<\\\/p><p><u>Residential Infrastructure Loan Program<\\\/u><\\\/p><p>A bond purchased by Build U.P. shall be no less than $250,000 and no more than $1 million, with a repayment term of 15 years.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"How do eligible applicants access Build U.P. funding?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Parties interested in the Cash Collateral Program or the Residential Infrastructure Loan Program may access the necessary forms by clicking the buttons on the page to the left. You can either fill out the form online or download a fillable PDF.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"Can the Cash Collateral program be used for a collateral shortfall with a mixed-use development?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Yes. However, the majority of the overall development must be dedicated to housing development.<\\\/p>\"}}]}<\/script>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d39301f elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-hidden-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d39301f\" data-element_type=\"section\" data-e-type=\"section\" 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class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ae53ace\" data-id=\"ae53ace\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-31450a2 elementor-widget elementor-widget-heading\" data-id=\"31450a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Projects<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ac4b574 elementor-grid-3 elementor-grid-tablet-2 elementor-grid-mobile-1 elementor-posts--thumbnail-top load-more-align-center elementor-widget elementor-widget-posts\" data-id=\"ac4b574\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;classic_row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:40,&quot;sizes&quot;:[]},&quot;pagination_type&quot;:&quot;load_more_on_click&quot;,&quot;classic_columns&quot;:&quot;3&quot;,&quot;classic_columns_tablet&quot;:&quot;2&quot;,&quot;classic_columns_mobile&quot;:&quot;1&quot;,&quot;classic_row_gap_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;classic_row_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;classic_row_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;load_more_spinner&quot;:{&quot;value&quot;:&quot;fas fa-spinner&quot;,&quot;library&quot;:&quot;fa-solid&quot;}}\" data-widget_type=\"posts.classic\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-posts-container elementor-posts elementor-posts--skin-classic elementor-grid\" role=\"list\">\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-12020 post type-post status-publish format-standard has-post-thumbnail hentry category-building-the-up\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-1\/\" tabindex=\"-1\" >\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"900\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder.jpg\" class=\"attachment-full size-full wp-image-12516\" alt=\"\" srcset=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder.jpg 1600w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-300x169.jpg 300w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-1024x576.jpg 1024w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-768x432.jpg 768w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-1536x864.jpg 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-1\/\" >\n\t\t\t\tProject 1\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Developer name: Big UP Development Development location and<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-1\/\" aria-label=\"Read more about Project 1\" tabindex=\"-1\" >\n\t\t\tLearn More \t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-12022 post type-post status-publish format-standard has-post-thumbnail hentry category-building-the-up\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-2\/\" tabindex=\"-1\" >\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"900\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder.jpg\" class=\"attachment-full size-full wp-image-12516\" alt=\"\" srcset=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder.jpg 1600w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-300x169.jpg 300w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-1024x576.jpg 1024w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-768x432.jpg 768w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-1536x864.jpg 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-2\/\" >\n\t\t\t\tProject 2\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Developer name: Big UP Development Development location and<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-2\/\" aria-label=\"Read more about Project 2\" tabindex=\"-1\" >\n\t\t\tLearn More \t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-12024 post type-post status-publish format-standard has-post-thumbnail hentry category-building-the-up\" role=\"listitem\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-3\/\" tabindex=\"-1\" >\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"900\" src=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder.jpg\" class=\"attachment-full size-full wp-image-12516\" alt=\"\" srcset=\"https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder.jpg 1600w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-300x169.jpg 300w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-1024x576.jpg 1024w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-768x432.jpg 768w, https:\/\/www.investupmi.com\/wp-content\/uploads\/2022\/10\/BUP-project-image-placeholder-1536x864.jpg 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-3\/\" >\n\t\t\t\tProject 3\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>Developer name: Big UP Development Development location and<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/www.investupmi.com\/index.php\/2022\/10\/03\/bup-post-3\/\" aria-label=\"Read more about Project 3\" tabindex=\"-1\" >\n\t\t\tLearn More \t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t\t\t<span class=\"e-load-more-spinner\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-spinner\"><\/i>\t\t\t<\/span>\n\t\t\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>InvestUP is partnering with developers, lenders and government to increase workforce housing across the region. View projects Build U.P. has closed. InvestUP is partnering with developers, lenders and government to increase workforce housing across the region. InvestUP announces Build U.P., a housing fund to help fast-track high impact shovel-ready housing projects MARQUETTE, MI (July 5, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":12531,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_canvas","meta":{"footnotes":""},"class_list":["post-12018","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Building the U.P. - InvestUP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investupmi.com\/index.php\/building-the-u-p\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Building the U.P. - InvestUP\" \/>\n<meta property=\"og:description\" content=\"InvestUP is partnering with developers, lenders and government to increase workforce housing across the region. 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