The Michigan State Housing Development Authority (MSHDA) is pleased to announce upcoming competitive funding rounds for two different financial resources to assist multi-family rental developments:  1) the federal Housing Trust Fund Program and 2) the MSHDA Gap Financing Program.  Each program is available to provide financial resources that are generally to be used in conjunction with tax-exempt bond financing from MSHDA.

Because the federal Housing Trust Fund Program and the MSHDA Gap Funding Program each use a different funding source, each program is allocated based on its own selection criteria.  Attached to this notice is a copy of the Housing Trust Fund Program Allocation Plan and the MSHDA Gap Financing Program,  which further describes the objectives, requirements, and processing timelines of each program.  Additionally, each of the respective program requirements are also available on the MSHDA website at:   https://www.michigan.gov/mshda/0,4641,7-141-5587_5589-289060–,00.html

The funding available, application due date, submissions requirements for the Housing Trust Fund Program and the MSHDA Gap Financing Program are as follows:

Housing Trust Fund Program –

  • Funding Available – Approximately $9.5 Million
  • Application Due Date – February 1, 2019
  • Application Submission Requirements – LIHTC Application and Addendum V Checklist Items

MSHDA Gap Financing Program –

  • Funding Available – Approximately $9 Million
  • Application Due Date – February 15, 2019
  • Application Submission Requirements – Notice of Intent to Apply Package

COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) SET-ASIDE

Special Notice: A minimum of fifteen (15%) percent of MSHDA’s annual HOME allocation is set aside for CHDO eligible multifamily development proposals.   As of the date of this memo, MSHDA currently has approximately $3.5 million in HOME funding available for this purpose.  Accordingly, CHDO-eligible organizations who are currently contemplating a multifamily development transaction are encouraged to contact MSHDA and/or consider applying for potential financing consideration.

Please direct all questions and submit all mailed application packages to:

John Hundt
Housing Development Manager
Rental Development
Michigan State Housing Development Authority
735 East Michigan Avenue, PO Box 30044
Lansing, Michigan 48909
hundtj1@michigan.gov; 517-241-7207

Please submit all hand-delivered application packages to:

MSHDA’s Lansing Office:                                    MSHDA’s Detroit Office:

MSHDA                                                                             MSHDA
Rental Development, 2nd Floor                                   3028 W. Grand Boulevard, Suite 4-600
735 East Michigan Ave, 2nd Floor                               Detroit, MI  48202
Lansing, MI  48912