Since 1966, the Michigan State Housing Development Authority has helped to provide quality affordable living situations for the citizens of Michigan. Through a vast network of public, private, and non profit groups, the MSHDA assures the best possible outcome for low and middle income individuals and families. The economic and housing development benefits all of Michigan. Funding is secured via taxable bonds and other public fund raising initiatives along with cooperation from federal soucrs. These revenue streams then allow below market loans and initiatives targeted toward real estate developers in areas they might otherwise overlook.
Michigan State Housing Development Authority
HUD’s new Neighborhood Stabilization Program (NSP) provides targeted emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The State of Michigan has been allocated $98,653,915 to address the areas of greatest need within Michigan. The State must submit an NSP Action Plan Substantial Amendment to HUD by December 1, 2008 to receive these funds.
The State of Michigan’s NSP substantial amendment describes how it will distribute and use the NSP funds in accordance with the requirements of Section 2301(c) (2) of the Housing and Economic Recovery Act, 2008.
Michigan Emergency Housing Funds Amendment
