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WATERFORD TOWNSHIP’S NOTICE OF PUBLIC HEARING FOR A PROPOSED APPLICATION FOR A LOAN GUARANTEE FUND PROGRAM UNDER THE SECTION 108 LOAN GUARANTEE PROGRAM FOR THE DRAYTON PLAINS BUSINESS AND ECONOMIC DEVELOPMENT LOAN FUND PROGRAM In accordance with the Housing and Community Development Act and related regulatory requirements, the Charter Township of Waterford will conduct a public hearing for all interested residents during the regularly scheduled meeting of the Waterford Township Board of Trustees on Monday, February 23, 2026, beginning at 6:00 p.m. in the Waterford Township Hall Auditorium, 5200 Civic Center Drive, Waterford, Michigan. The purpose of the meeting is to introduce and accept public comment on the proposed application for Drayton Plains Business and Economic Development Loan Fund Program application. Following the public hearing, the Township will observe a 30-day public comment period prior to presenting the finalized Application to the Township Board for approval to submit to HUD. The public comment period will run between February 24, 2026, through March 24, 2026. The proposed loan program will utilize the Section 108 Loan Guarantee Program to provide advantageous financing options to stimulate economic development and small and mid-sized business support and growth within the Drayton Plains subarea of the Township, generally located at Dixie Highway and Frembes Road. The application draft can be viewed, in person, at the Township Library and Development Services Department counters or may be found on the Township’s website at: https://www.waterfordmi.gov/287/Community-Development Additional information regarding the Section 108 Loan Guarantee program can be found at: https://www.hud.gov/hud-partners/community-section108 The Township anticipates five times the annual CDBG allocation received, or approximately $1.81 million, in loans funds will be made available through this program in the form of small loans (up to $50,000) to large loans (up to $500,000). These loan funds will leverage the annual allocation to provide small and midsized business loans to companies seeking to operate or expand within the Drayton Plains Subarea to support economic development and business growth with a focus on supporting low- and moderate-income residents, workers, and business owners. At least 70% of all funds issued will be required to directly support low- and moderate-income individuals. Funds loaned to businesses will be repaid by the organizations receiving the funds. In addition to collateral obtained, the Township’s annual CDBG allocation may be leveraged to cover unpaid debt services. Eligible activities are governed by 24CFR570.703 and are specified in the draft application but generally include: • Acquire, fix-up, improve, or prepare property for use • Build or improve public infrastructure (streets, utilities, facilities) • Support economic and community development projects • Provide technical support, and supply operational, and equipment costs • Rehabilitate or build housing, including nonprofit homeownership housing • Cover relocation and environmental cleanup costs • Pay loan interest, reserves, and financing-related expenses • Pay required HUD fees DISPLACEMENT PLAN The Charter Township of Waterford's proposed Loan Guaranty Program does not include any projects that would result in displacement of low- and moderate-income persons. However, if displacement does occur due to a federally funded Community Development project, eligible displaced individuals (in accordance with 24CFR570.606(b), Section 104(d) of the Community Development Act, the Uniform Relocation Act, and the Township's CDBG Displacement Policy) will be provided with moving expenses and, where required, replacement housing financial and technical assistance. This will be accomplished by working closely with Realtors, the U.S. Department of Housing and Urban Development, and/or other appropriate agencies available to find suitable housing for those displaced. Interested persons are encouraged to express their views at the public hearing or through written comments that will be accepted by mail to the Development Services Department, 5200 Civic Center Drive, Waterford, MI 48329. Persons requiring information in alternative formats should contact the Department at (248) 674-6238. All comments received by March 24, 2026, will be considered. Members of the public will only be able to speak during the public comment period and at the end of the meeting and such comments will be limited to three minutes per person. To provide for orderly public participation, a person wishing to speak must first state their name and request to be recognized by the Chairperson of the meeting. The Chairperson will recognize all persons wishing to speak during the public comment period. Prior to the meeting, members of the public may contact the members of the Township Board to provide input or ask questions by email or mail to the Township employee/official and at the addresses listed below. Persons with disabilities in need of accommodations to be able to participate in the meeting should provide at least 24-hour advance notice to the listed Township employee by phone, email, or mail and an attempt will be made to provide reasonable accommodations. Kim Markee, Township Clerk Charter Township of Waterford 5200 Civic Center Drive, Waterford, Michigan 48329