| Media Release – Dec. 17, 2004 2004-12-17c |
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Commission funds affordable
housing across the state MHDC administers rental housing production and preservation programs including the federal and state low income 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).
Funding Source Allocated MHDC Fund Balance $7,000,000 Federal HOME loans and
grants – Total $19,824,988
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Home loans/grants $13,377,289
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HOME CHDO funds $3,947,699
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HOME funds (tax-exempt bond finance) $2,500,000 Federal Rental Housing
Tax Credits $10,581,353 State Rental Housing Tax
Credits $10,581,353 The 40
development proposals approved for funding are located in the following cities
(numbers indicate multiple proposals for those locations):
A detailed list of
funded proposed throughout the state is available
here. Requested
funding once again far exceeded the funds available. Funding requested and available included: Funding Requested Available MHDC Fund Balance $37.2 million $7.0 million HOME (includes CHDO) $35.6 million $19.8 million Federal Rental Housing
Tax Credits $30.6 million $10.6 million State Rental Housing Tax
Credits $30.6 million $10.6 million ### MEDIA
REPRESENTATIVES - Media representatives who want to discuss the results with
MHDC should contact
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