Trending...
- 'Public Speaking Without Panic' Launches to Help Leaders Speak with Confidence
- Digital Watchdog Launches New myDW Cloud Services
- Top Dentist Concord CA, Smile Makers Dental Care, Celebrates 500 5-Star Reviews
Media Contacts:
Katie Bach, Bachk@michigan.gov
Anna Vicari, VicariA@michigan.gov
June 18, 2021
LANSING, Mich. - During its June board meeting, the Michigan State Housing Development Authority Board approved the agency's 2021-22 budget, the bi-annual plan for administration of Low-Income Housing Tax Credits (LIHTC) in Michigan, and several financial transactions that create and preserve affordable housing.
The Qualified Allocation Plan (QAP), amended every two years, reflects MSHDA's priorities for allocating Low-Income Housing Tax Credits (LIHTC) for rental housing. The plan was created with extensive partner and public input and addresses the state's highest affordable housing needs and the efficient use of the tax credits. Changes focus on providing urban and rural balance in the distribution of resources, Green building standards, Tribal Housing, disaster credits, overburdened households, deep rent and income targeting, and a commitment to Diversity, Equity, and Inclusion.
More on Michimich.com
"This plan aims to ensure the equitable distribution of resources throughout the state, the production of more units and resource efficiency, greener and healthier housing, as well as a commitment to diversity, equity, and inclusion to inform future QAP policy," said Chad Benson, MSHDA rental development director.
The QAP now goes to Governor Gretchen Whitmer for her review and signature.
The board approved separate loan commitments in the amount of more than $13.7 million for two phases of the Reverend Dr. Jim Holley Residences in Detroit. The development sits within the city's greater downtown and is in a federally recognized Opportunity Zone, an area with a high demand for affordable housing. A building at 9001 Woodward Avenue will be demolished to make way for new construction of 60 family units with first class amenities.
In other action, the MSHDA Board:
"These actions ensure there is an adequate supply of safe, decent and affordable housing preserved for seniors and families with low and moderate incomes in eligible distressed areas," said Gary Heidel, MSHDA acting executive director. "The temporary and permanent jobs generated from these developments also will have a positive ripple effect on the surrounding neighborhoods and their local economies."
More on Michimich.com
Katie Bach, Bachk@michigan.gov
Anna Vicari, VicariA@michigan.gov
June 18, 2021
LANSING, Mich. - During its June board meeting, the Michigan State Housing Development Authority Board approved the agency's 2021-22 budget, the bi-annual plan for administration of Low-Income Housing Tax Credits (LIHTC) in Michigan, and several financial transactions that create and preserve affordable housing.
The Qualified Allocation Plan (QAP), amended every two years, reflects MSHDA's priorities for allocating Low-Income Housing Tax Credits (LIHTC) for rental housing. The plan was created with extensive partner and public input and addresses the state's highest affordable housing needs and the efficient use of the tax credits. Changes focus on providing urban and rural balance in the distribution of resources, Green building standards, Tribal Housing, disaster credits, overburdened households, deep rent and income targeting, and a commitment to Diversity, Equity, and Inclusion.
More on Michimich.com
- Deaths Spur Closures, but Troubled Teen Camps Must Be Banned, CCHR Warns
- Hillside Terrace Champions Lifelong Learning in Assisted Living
- Veteran Criminal Defense Attorney Offers Strategic DUI Defense and License Reinstatement
- Ann Arbor Criminal Defense Attorney Urges Residents to Be Informed During Police Encounters
- ArborMotion Highlights the Importance of Timely Brake Replacement for European Vehicles
"This plan aims to ensure the equitable distribution of resources throughout the state, the production of more units and resource efficiency, greener and healthier housing, as well as a commitment to diversity, equity, and inclusion to inform future QAP policy," said Chad Benson, MSHDA rental development director.
The QAP now goes to Governor Gretchen Whitmer for her review and signature.
The board approved separate loan commitments in the amount of more than $13.7 million for two phases of the Reverend Dr. Jim Holley Residences in Detroit. The development sits within the city's greater downtown and is in a federally recognized Opportunity Zone, an area with a high demand for affordable housing. A building at 9001 Woodward Avenue will be demolished to make way for new construction of 60 family units with first class amenities.
In other action, the MSHDA Board:
- approved a $500,000 loan to Circle Drive I Apartments for minor rehabilitation of the 129-unit family community in the Elmwood area of Detroit.
- adopted an inducement resolution for Cambridge Square of Flint, for the proposed acquisition and rehabilitation of the 160-unit family development in Flint Township. Approving the inducement resolution will allow the project to incur costs necessary for rehabilitating the property. The construction will create an estimated 20-30 temporary construction jobs, and the property will retain roughly 20 professional jobs.
- adopted an inducement resolution to cover costs incurred in the proposed acquisition and rehabilitation of a property on Cherry Hill Road in Inkster. The family and elderly communities on the property will be owned by separate entities. Cherry Hill Townhomes will consist of six, two-story buildings with 36 townhome style family units. The residents will benefit from a comprehensive rehabilitation of the development. Cherry Hill Place has one seven-story tower with 150 one- and two-bedroom elderly apartments. The units will be remodeled or rehabilitated with updates to resident units, common spaces, and exterior and grounds.
"These actions ensure there is an adequate supply of safe, decent and affordable housing preserved for seniors and families with low and moderate incomes in eligible distressed areas," said Gary Heidel, MSHDA acting executive director. "The temporary and permanent jobs generated from these developments also will have a positive ripple effect on the surrounding neighborhoods and their local economies."
More on Michimich.com
- EASTSIDE GOLF OPENS FIRST U.S. STOREFRONT IN DETROIT
- Palmer Lake Wine Festival To Build Bridges in Small Mountain Community, Highlight Local Businesses
- SacraPod Suites Unveils AI-Powered 'Work + Rest' Smart Hospitality Model for Retrofitting Underused Motels Across the U.S
- From Real Estate to Reel Power: H.L Woods Carves His Legacy as a Cutting-Edge Visionary Filmmaker
- 'Unity Through Christ Music Festival' coming to Detroit Saturday August 9, 2025
0 Comments
Latest on Michimich.com
- Stan Fitzgerald Appointed Acting Press Secretary for Veterans for America First VFAF Georgia State Chapter
- Atlas Home Improvement Launches Annual Helmet for Heroes Giveaway on July 4, 2025
- Drone Light Shows Emerge as the New Standard in Live Event Entertainment
- Lore Link is Here to Help Organize Your Game
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- Michigan Collection Company Gives Tips for Enforcing Payment Plans
- Michigan Lawn Care Company Promotes Midsummer Grub Control
- Michigan Dock Manufacturer Highlights Fun and Practical Accessories
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce
- Retired Hobbyist Launches Bold Weekly Album Project Using AI Songwriting Tools
- DimHum Launches Revolutionary CrowdShipping Service
- Eolian Signs New Information Exchange Agreement with the U.S. Department of Defense for Technology Innovation
- Infinite Health Introduces Cutting-Edge Regenerative Medicine for Wound Care with Trip Goolsby, MD
- Top Dentist Concord CA, Smile Makers Dental Care, Celebrates 500 5-Star Reviews
- Bio-Inspired Technology-Dynamic and Adaptable for unknown real-world environments
- 'Public Speaking Without Panic' Launches to Help Leaders Speak with Confidence