Date: January 23, 2004

47 affordable housing developments funded across the state

JEFFERSON CITY – The Missouri Housing Development Commission (MHDC) approved funding for 47 affordable rental housing developments as part of its Rental Production and Preservation Program on Friday, Jan. 23. The proposals were funded after MHDC staff reviewed 114 proposals submitted as part of the program. Many of the developments funded this year were in areas devastated by storms last spring.

“Our strength is in the partnerships we forge with private developers and non-profit agencies that build and renovate housing for Missourians,” said Gary Collins, Chairman of the Commission. “Through this partnership, we will again be able to ensure more than 1,800 rental units are available to secure the dignity of our low income families and afford them the quality of life that they deserve.”

The properties approved for funding by the Commission include developments in the following communities:

MHDC administers rental housing production and preservation programs including the federal and state Rental Housing Tax Credits. Funds for rental production programs also consist of MHDC fund balances and federal HOME funds. At least 10 percent of HOME funds are set aside for Community Housing Development Organizations (CHDOs).

The Commission allocated more than $16 million in federal HOME loans and grants, over  $8 million in MHDC fund balance loans and more than $10.8 million in federal and $10.8 million in state Rental Housing Tax Credits. MHDC had received requests for more than $80 million in loans and grants and $63 million in Rental Housing Tax Credits.

This year’s funding ensures that 1,839 units of housing stock will be available to families and seniors at affordable rents in the coming years.
 

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Download:  Funded List Excel Document  (as of 1-26-2004)

NOTE TO EDITORS: The results of the meeting have also be published on the MHDC web site http://www.mhdc.com/. Media representative questions can be directed to Brandon Laster, Public Information Officer, at 816.759.6692 or e-mail blaster@mhdc.com.