Yesterday (March 25th), MSHDA senior staff announced its DRAFT American Recovery & Reinvestment Act Preliminary Implementation Plan.  The Draft Implementation Plan is available on the MSHDA website at:http://www.michigan.gov/mshda/0,1607,7-141-5546-211383–,00.html.  The Plan is broken down into 4 components - 9% Tax Credit Assistance Program; 9% Tax Credit Exchange Program; 4% Tax Credit Assistance Program; and Michigan Affordable [...]

MSHDA has posted its NSP Application form and Guidelines on its website.  Applications are April 23rd.  Go to http://michigan.gov/mshda/0,1607,7-141–202883–,00.html to download this material.

Today, MSHDA published a notice opening a public comment period on its Consolidated Plan.  In order to receive certain federal funds, MSHDA is required to submit a Performance Reoprt on the Consolidated Plan to HUD.  The draft 2008 Performance Report is available upon request at MSHDA’s Lansing office.  Interested parties are invited to make written [...]

MSHDA reported yesterday that Governor Granholm approved the 2009 Qualified Allocation Plan (QAP) presented to her by MSHDA in late February.  You can find the approval letter and the approved QAP by linking to: 
http://www.michigan.gov/mshda/0,1607,7-141-5587_5601-31750–,00.html

At its Board meeting in February, MSHDA approved Michigan’s Qualified Allocation Plan and sent it to the Governor for approval.  The QAP awards lots of points for “hard commitment” deals and “green” developments.  Additional points are awarded for seasoned developers.  The QAP also has some built-in flexibility to deal with Stimulus funds authorized by Congress and the [...]

MSHDA is holding several training sessions throughout the state to educate local units of government, non-profits organizations, for profit developers, and consultants on how MSHDA’s NSP program will work.  It was learned that a large portion of the $98 Million of federal aid will be used for a multi-family lending program that is still under [...]

The Granholm Administration has proposed an estimated cut of $6.2 Million in its program that transitions the elderly and persons with disabilities from nursing homes to community settings.  This might put crimp in MSHDA’s affordable assisted living program.  More to follow as budget process continues with Michigan Legislature.