MSHDA has posted information on its website about ARRA authorized Homeless Prevention and Rapid Re-housing Program funding.  MSHDA has received over $22 Million in federal funds that it will be distributing to eligible grantees - all 60 of Michigan’s Continuum of Care providers.  Only those providers submitting an acceptable CHAP plan will be eligible for funding.  [...]

MSHDA published its new underwriting criteria for monetized credit and TCAP funded developments on Friday, April 17th.  These new requirements will be used to evaluate developments that either turn back 07 and 08 LIHTC reservations or who are seeking 09 monetized and TCAP funding and all other developments, including direct lending developments being financed with [...]

MSHDA has published its ARRA Implementation Plan and conducted one public listening session to encourage developers to turn back their 07 and 08 LIHTC reservations in exhcange for monetized credits and TCAP funding.  The listening session conducted on April 13th was well attending with a full room and at least 75 people calling in to [...]

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 [...]

MSHDA has received approval from HUD on its statewide Neighborhood Stabilization Program (NSP) Plan.  Workshops to learn about the competitive selection process are scheduled to occur throughout the state.  More information on the NSP and workshops can be found at:  http://michigan.gov/mshda/0,1607,7-141–202883–,00.html.  Workshops are free and should be attended by municipalities, non-profit housing and community development organizations, [...]