Michigan State Housing Development Authority (MSHDA) recently stated in a memo that is anticipates the first round of competitive gap financing to be used with tax-exempt bond financing and 4% LIHTC will begin August 15, 2018.

MSHDA notes, however, that projects able to achieve and maintain a soft to hard debt ratio of less than 20% may apply for gap financing at any time.

John Hundt is available for questions at (517) 241-7207.