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.

MSHDA will allocate the remaining balance of Michigan’s 2016 tax credit ceiling in the April 1, 2016 funding round. Credit will be allocated according to Michigan’s 2015- 2016 Qualified Allocation Plan and any subsequent administrative updates and administrative procedural modifications that have been posted to the Authority’s website.

The April 1, 2016 funding round will make approximately $11.8 million in annual LIHTC available to eligible applicants. All applicants are encouraged to review the 2015-2016 QAP for a description of the allocation process to be followed in awarding the credit from the April round.

The following is a breakdown of credit available by Category:

  • Preservation Category $ 2,569,583
  • PSH Category $ 2,381,699
  • Open Category $ 2,409,663
  • Strategic Investment Category $ 968,089
  • Undesignated Category $ 3,535,566
  • Total Credit Available $ 11,864,600