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MHDC is the state's housing finance agency. The
Commission is dedicated to strengthening communities and the lives of
Missourians through the financing, development and preservation of
affordable housing.
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History
The Missouri Housing Development Commission,
created by the 75th General Assembly, has invested almost $4
billion for rental housing developments, preservation of
affordable rental housing, home mortgages, home improvement
loans, grants to neighborhood housing groups, and other housing
programs. MHDC functions as a bank, providing financing directly
to borrowers or through a network of private lending
institutions.
The Commission makes loans to non-profit and limited-dividend
sponsors of residential housing to provide affordable housing
for underserved Missourians. The Commission also makes funds
available for the purchase of homes for first-time buyers at
below-market interest rates. The funds for mortgage financing
are provided through the sale of tax-exempt notes and bonds that
the Commission is authorized to issue.
Additionally, the Commission is authorized to establish a
revolving fund to make non-interest bearing loans to non-profit
organizations to defray development costs of housing for low-
and moderate-income persons. The Commission provides advisory,
consultative, training and educational services to non-profit
housing organizations.
The Commission also administers the federal Low Income Housing
Tax Credit, Missouri Low Income Housing Tax Credit and the
Affordable Housing Assistance Tax Credit; and operates a housing
trust fund for very low-income Missourians to help prevent
homelessness and provide emergency housing assistance.
The Commission participates with the Department of Economic
Development in preparing the state's Consolidated Plan for the
U.S. Department of Housing and Urban Development.
The Commission includes the governor, lieutenant governor,
attorney general, treasurer and six persons appointed by the
governor with the advice and consent of the Senate.

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