Michigan

Last Friday morning, the National Housing Conference (NHC) held its Annual Policy Symposium in Washington D.C. to a welcoming audience of investors, researchers, and bureaucrats. The half-day event included an address by Detroit Mayor Mike Duggan on the city’s development, a panel of experts further discussing Detroit, and a panel discussing the growing impact and role of private-public partnerships in community development.

MSHDA will hold four Public Hearings on May 4, 2018 to take comments on the Draft 2019-2020 Qualified Allocation Plan.

Applications for the funding round are due by the June 1, 2018 funding round deadline.

Michigan has recently released a memo identifying the new 9% credit amounts for the April 2 funding round to reflect the 12.5% increase in LIHTCs as a result of the Omnibus legislation.

Applications for the second competitive round of 2018 LIHTC will be due by 5pm, April 2, 2018. The Notice of Funding Round for April 2, 2018, along with a memo titled “LIHTC Program Updates”, is now available on the “2018 Funding Round Information” page of the MSHDA web site: http://www.michigan.gov/mshda/0,4641,7-141-5587_5601-459745–,00.html Form Updates on MSHDA Web […]

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 […]

As a reminder, February 1, 2018 is the deadline for submission of any project-specific waiver requests an applicant is considering requesting for the April 2, 2018 funding round.  See Section V.E of the 2017-2018 QAP for further information.

Information regarding sponsorship and exhibitor opportunities will be available some time in December. Registration and conference details will be available sometime in 2018. 

Michigan State Housing Development Authority recently released a memo outlining updates to the 2017-18 QAP due to the current state of the equity market.

As a reminder, Market Study requests for the October 2, 2017 LIHTC Funding Round are due to MSHDA no later than Monday, July 17, 2017.

The deadline for applications is July 17, 2017.

The Gap Financing Program NOFA is designed to improve MSHDA’s direct-lending production and to assist with being able to finance tax-exempt bond transactions utilizing the 4% Low Income Housing Tax Credit. MSHDA now has two funding rounds annually, with each round having available approximately $9 million in gap funding.