The Michigan State Housing Development Authority (MSHDA) has announced it has reinstated deadline extension fees for LIHTC applications, effective immediately. MSHDA believes that charging a reasonable extension fee is necessary to effectively administer the LIHTC program and will incentivize sponsors to keep projects on schedule as best possible. Sponsors are now required to pay an amount equal to one percent (1%) of the annual credit amount as part of the extension request and approval process. To read the memo, click here