If, upon reviewing the list of applicants for the Michigan State Housing Development Authority’s April 1, 2016 funding round, an applicant determines there is not a strong probability of their project receiving an award of credit, applicants may request to have their application withdrawn from the funding round and returned to them. Applicants who make this request by 5:00 pm on April 13, 2016 may also receive a refund of the LIHTC application fee that was submitted with their application. After this date, all remaining applications will be processed, unless otherwise withdrawn by the applicant, and fees will not be returned. Additionally, applicants should note that, if MSHDA in its sole discretion determines that, beyond a certain point, further review of projects scoring too low to be in a position to receive an award of credit would not result in the best use of staff resources, MSHDA may stop the review process before moving on to these low scoring projects.
MSHDA is making this opportunity available to applicants not only in an effort to expedite the funding round process, but also in an effort to relieve some of the financial burden applicants encounter in the application process. Therefore, MSHDA is taking this opportunity to allow applicants to avoid incurring unnecessary fees on applications that are unlikely to receive an award of credit. Applicants are strongly encouraged to take advantage of this opportunity, as it is in the best interest of the parties involved, and the state of Michigan, to be able to expedite any funding processes where possible in an effort to put available funding to work in a timely manner.
Applicants choosing to take advantage of the opportunity discussed above should notify MSHDA of their intent to withdraw their application and receive a refund of the appropriate fees by emailing a copy of the attached Request for Withdrawal of Application form to Carol Thompson at thompsonc7@michigan.gov. Applicants will also be required to submit the original copy of this form at the time they come to pick up their application and fee refund. In addition, if you have any questions regarding the above or about any of the projects listed, please contact LIHTC staff at (517) 373-6007.
