The Michigan State Housing Development Authority (MSHDA) opened the 14th round for the Gap Financing Program – Notice of Funding Availability (NOFA). This program is designed to improve MSHDA’s direct-lending production, achieve deeper income targeting and to assist with being able to finance tax-exempt bond transactions utilizing the four percent LIHTC.
The 14th round will begin August 16, 2021, as described within the updated Gap Financing program. HOME, Housing Trust Funds (HTF) and Mortgage Resource Funds (MRF) sources will be made available in this round. This funding is being made available exclusively for MSHDA’s Tax Exempt – four percent LIHTC direct lending transactions.
