The Michigan State Housing Development Authority released a draft version of its Notice of Funding Availability (NOFA) for the 2012 Michigan Housing and Community Development Fund (the “MHCD Fund”). In March 2012, Michigan, along with 48 other states, entered into a settlement with five of the nation’s largest mortgage servicers following a lawsuit regarding mortgage foreclosure practices. A portion of Michigan’s proceeds from that settlement have been directed towards the creation of this program. In 2012, MSHDA plans to allocate a total of $3,785,500 to support projects using combined public and private resources to create affordable housing and to finance projects in downtown areas.
MSHDA is providing several opportunities for public comment in October and November. Public hearings are scheduled at the following dates/times:
Marquette: October 30, 2012
1:00 p.m. — 3:00 p.m.
112 South Third Street,
Marquette, MI 49855
Lansing/Detroit: October 31, 2012
1:00 p.m. — 3:00 p.m., simulcast in both board meeting rooms:
735 East Michigan Avenue
Lansing, MI 48910
3028 West Grand Boulevard, Suite 4-600
Detroit, MI 48202
Traverse City: November 8, 2012
9:30 a.m. — 11:30 a.m.,
Campus Room 207,
Northwestern Michigan College,
2200 Dendrinos Drive
Traverse City, MI 49684
Applications are scheduled to be due by February 15, 2013. MSHDA will accept questions submitted to MHCDF-Applications@michigan.gov through February 8, 2013. Program updates and Frequently Asked Questions will be posted regularly on www.michigan.gov/mshda.