Michigan
Michigan Waiver Request Deadline Feb. 1
As a reminder, February 1, 2018 is the deadline for submission of any project-specific waiver requests an applicant is considering requesting for the April 2, 2018 funding round. See Section V.E of the 2017-2018 QAP for further information.
Michigan Hosts Conference 4/30 – 5/2
Information regarding sponsorship and exhibitor opportunities will be available some time in December. Registration and conference details will be available sometime in 2018.
Michigan Repeats Basis Boost Tweak for 2017-18 QAP Related to Equity Market
Michigan State Housing Development Authority recently released a memo outlining updates to the 2017-18 QAP due to the current state of the equity market.
Michigan: Reminder – Market Studies Due 7/17 for October LIHTC Funding Round
As a reminder, Market Study requests for the October 2, 2017 LIHTC Funding Round are due to MSHDA no later than Monday, July 17, 2017.
Michigan: Additional Funding Round for 2016 9% Projects Receives Governor’s Approval
The deadline for applications is July 17, 2017.
Michigan Gap Financing for 4% Deals Begins August 15, Market Study Requests Due Jun 30
The Gap Financing Program NOFA is designed to improve MSHDA’s direct-lending production and to assist with being able to finance tax-exempt bond transactions utilizing the 4% Low Income Housing Tax Credit. MSHDA now has two funding rounds annually, with each round having available approximately $9 million in gap funding.
Michigan Hosts Public Hearings to Discuss Proposed QAP Amendment Regarding Equity Market
The 2017-2018 QAP Amendment is designed to deal with the recent uncertainty in the equity market.
Michigan: Applications for 1st Competitive Funding Round due Oct. 3rd
Michigan State Housing Development Authority has released the Notice of Funding for the first round of competitive tax credit allocations.
Michigan Announces Amendments to Incorporate NHTF
Michigan expects an allocation of $3,522,622 from the National Housing Trust Fund for the upcoming year and has drafted an allocation plan and amended its Action Plan to reflect such. The public comment period is currently open.
Michigan Posts Draft 2017-18 QAP
The Draft 2017-2018 Qualified Allocation Plan and related documents have been posted to the April 2016 Public Hearings page of the MSHDA web site.
Michigan Allows Penalty-Free Withdrawal from April 1 Funding Round
Applicants who make this request by 5:00 pm on April 13, 2016 may also receive a refund of the LIHTC application fee that was submitted with their application. After this date, all remaining applications will be processed, unless otherwise withdrawn by the applicant, and fees will not be returned.
Michigan Announces Gap Financing Program NOFA
The Gap Financing Program NOFA is designed to improve MSHDA’s direct-lending production by making available approximately $18 million in gap funding. This funding is being made available exclusively for MSHDA’s Tax Exempt – 4% Low Income Housing Tax Credit direct lending transactions.