Michigan
Michigan Extends HTC Through 2030
Gov. Gretchen Whitmer (D) of Michigan signed legislation extending the state’s Historic Tax Credit (HTC) through 2030. S.B. 54 allows a qualified taxpayer with a certificate of completed rehabilitation issued after December 31, 2020 and before January 1, 2031, to credit against the income tax or Corporate Income Tax (CIT) 25 percent of the qualified expenditures that met eligibility criteria […]
Michigan QAP Hearing – December 9
The Michigan State Housing Development Authority (MSHDA) will hold an information hearing on amending its recently approved 2021 QAP from 9 to 11 a.m. ET on December 9. The QAP Amendment process is anticipated to begin this year and continue through early-to-mid 2021. Dial 248-509-0316, code: 395 059 938 to join the call. Persons who […]
Michigan 2021 QAP to be Considered by Board on Oct. 22
Michigan State Housing Development Authority’s (MSHDA) 2021 QAP will go to its board for approval at the October 22, 2020 meeting.
Michigan QAP Hearings – Oct. 13 & 14
The Michigan State Housing Development Authority (MSHDA) will hold three public hearings on its draft 2021 QAP:
October 13, 2020 from 9 -11 a.m. ET,
October 13, 2020 from 1 – 3 p.m. ET, and
October 14, 2020 from 9 – 11 a.m. ET.
Michigan HOME/MRF Gap Financing Program NOFA
The Michigan State Housing Development Authority (MSHDA) released the thirteenth notice of funding availability (NOFA) for its HOME/Mortgage Resource Fund (MRF) Gap Financing Program. This Program is designed to improve MSHDA’s direct-lending production and to assist with being able to finance tax-exempt bond transactions utilizing the four percent LIHTC. The Notice of Intent to Apply […]
Michigan Hosts 2020 Enterprise Green Communities Criteria Webinar on Nov. 5
The Michigan State Housing Development Authority (MSHDA) will host a webinar from 10 a.m. to 1 p.m. ET on November 5 on Enterprise’s new 2020 Green Communities Criteria.
Michigan QAP Hearing – Sept. 25
Michigan State Housing Development Authority (MSHDA) will hold a virtual QAP information hearing from 9 – 11 a.m. ET on September 25.
Woda Cooper Rehabilitates 24-unit Maple Hill Apartments in Cadillac, MI
Woda Cooper Companies recently completed a $3.2 million rehabilitation of the 24 units at Maple Hill Apartments in Cadillac, MI. The substantial rehabilitation included new kitchens with ENERGY STAR appliances, new baths, new flooring, windows, doors and energy-efficient HVAC systems, plumbing, insulation, roofs, siding and landscaping plus more.
Michigan Updates Pass-Through Bond Program
The Michigan State Housing Development Authority (Authority) updated its Pass-Through Bond Program. Projects participating in this program may use Pass-Through Bonds as long-term financing (construction and permanent financing) or as short-term financing (construction financing only). All projects must show evidence of credit enhancement that is acceptable to the Authority.
Michigan 2020 LIHTC Election Application Submission Update
The Michigan State Housing Development Authority (MSHDA) has been developing an electronic submission alternative for applicants that are planning to submit an application in the June 1, 2020 LIHTC Funding Round. Through the use of an extranet platform, applicants can request to be given access to an electronic folder where they will be able to upload all application documents.
Michigan Further Extends LIHTC Application Deadline to June 1
The Michigan State Housing Development Authority is extending the May 1, 2020 LIHTC application deadline until June 1, 2020.
Michigan Postpones LIHTC Funding Round Due Date to May 1
To help address the potential timing concerns, Michigan State Housing Development Authority (MSHDA) is postponing the April 1, 2020 LIHTC Funding Round due date until May 1, 2020. All LIHTC applications that were originally planned to be submitted for the April 1, 2020 Funding Round will now be due no later than 5 p.m. May 1, 2020.