The Michigan State Housing Development Authority’s (MSHDA) board of directors approved a Pass-Through Bond Program. $100 million of MSHDA’s bond authority will be devoted to the program. Applications that are currently in the expiring July 2020 Pass-Through Bond Program pipeline, but have not yet been approved for inducement, will automatically be considered in this July 2021 Pass-Through Bond Program. The Program Bond Cap may be reduced or increased by the MSHDA subject to having sufficient volume cap for its direct lending multifamily program and single-family programs.