LANSING, Mich. (WLNS) The Michigan State Housing Development Authority (MSHDA) Board approves several grants and loans to support programs and projects across Michigan. This includes a $1.17 million Housing Development Fund grant to Habitat for Humanity of Michigan for three programs. Those include:
- Up to $12,000 in down payment assistance to eligible low-income households and reimbursement of up to $350 for required HUD or MSHDA certified pre-purchase homebuyer education.
- The Priority Home Repair (PHR) program to complete home rehabilitations and repairs in households at or below 60% area median income.
- The Michigan Department of Corrections Prison Build program, which will provide 90 low-income families in Michigan with affordable, high quality products for their homes.
“The missions and efforts of MSHDA and Habitat for Humanity of Michigan are very closely aligned, especially when it comes to providing quality, safe, and affordable housing to Michiganders,” said Susan Corbin, MSHDA Board chair and acting director of the Department of Labor and Economic Opportunity. “The grants provided by MSHDA will play a critical role in ensuring the continued availability of these programs to help people in need in communities all across the state.”
The MSHDA Board also authorized the issuance of $19.6 million in limited obligation bonds as well as 10 loans funded by bond proceeds. The loans will be used to acquire and rehabilitate 10 projects in rural areas throughout the state – including the Upper Peninsula. The projects have 384 affordable housing units. Eight projects are designated as family housing and two are designated as elderly housing. All 384 units will be reserved for tenants at 60% of area median income or less. Seventy percent of the units across all projects will continue receiving Section 521 project-based rental assistance from U.S. Department of Agriculture, which will allow the projects to serve low and very low-income residents in their communities.
“Through these loans, MSHDA is able to preserve and strengthen the current stock of affordable housing options at a time when we can’t afford to lose any housing for low-income individuals and families, particularly in rural areas,” said MSHDA Acting Executive Director Gary Heidel.