Michigan

The 2017-2018 QAP Amendment is designed to deal with the recent uncertainty in the equity market.

Michigan State Housing Development Authority has released the Notice of Funding for the first round of competitive tax credit allocations.

Michigan expects an allocation of $3,522,622 from the National Housing Trust Fund for the upcoming year and has drafted an allocation plan and amended its Action Plan to reflect such. The public comment period is currently open.

The Draft 2017-2018 Qualified Allocation Plan and related documents have been posted to the April 2016 Public Hearings page of the MSHDA web site.

Applicants who make this request by 5:00 pm on April 13, 2016 may also receive a refund of the LIHTC application fee that was submitted with their application. After this date, all remaining applications will be processed, unless otherwise withdrawn by the applicant, and fees will not be returned.

The Gap Financing Program NOFA is designed to improve MSHDA’s direct-lending production by making available approximately $18 million in gap funding. This funding is being made available exclusively for MSHDA’s Tax Exempt – 4% Low Income Housing Tax Credit direct lending transactions.

The list of Qualified Census Tracts (QCTs) and Difficult Development Areas (DDAs) has been updated for 2016. Updates are effective July 1, 2016.

The Michigan State Housing Development Authority announced that the second competitive funding round for 2016 Low Income Housing Tax Credit will have an application submission deadline of 5:00 p.m., April 1, 2016.

A permanent fixed 9% credit rate has multiple immediate effects on the LIHTC Program and the Michigan Qualified Allocation Plan

Changes to the Detroit Continuum of Care program will impact the process of applying for LIHTC projects that require CoC approval during MSHDA’s April 2016 round for credits.

Workshop participants will engage in an introduction to the 2015 Enterprise Green Communities Criteria. Attendees will identify how to successfully address critical details of this Criteria in their own development projects.

Written comments and suggestions for the 2017-2018 QAP that MSHDA received in response to the October 30, 2015 Information Hearing have been added to the “2017-2018 QAP Information Hearing” page of the MSHDA web site.