News
Advisory/Request for Coverage
Commission expected to decide on millions in 2006 affordable
housing funding
The
Missouri Housing Development Commission is scheduled to
review millions of dollars in staff recommendations for 2006
funding during its December meeting to be held at 10 a.m.,
Dec. 9 in Jefferson City. The Commission is expected to
formally approve the recommendations as part of the 2006
funding cycle.
Three
different areas of funding will be recommended to the
commission: Rental Production and Preservation; Missouri
Housing Trust Fund (MHTF); and the HOME Repair Opportunity (HeRO)
Program.
Rental Production & Preservation
MHDC administers rental housing production and
preservation programs including the federal and state Low
Income Housing Tax Credits (LIHTC). 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).
Developers submitted 122 affordable housing development
proposals for 2006 funding in response to a Notification of
Funding Availability issued in August. Funds available this
year include:
|
Program |
Funds Requested |
Funds Available |
|
MHDC Fund Balance
Loan |
$21,449,068 |
$6,000,000 |
|
Federal HOME loan |
$43,609,271 |
$14,195,000 |
|
Federal Rental
Housing Tax Credits |
$36,520,975 |
$10,700,000 |
|
State Rental
Housing Tax Credits |
$36,520,975 |
$10,700,000 |
Developments are proposed in the following Missouri cities
(number indicates multiple proposals):
Missouri Housing Trust Fund
This year, MHDC received 153
applications requesting more than $15.8 million in funding with
just $6 million in funding available.
The
Missouri Housing Trust Fund (MHTF) is designed to increase
affordable housing opportunities for low-income families.
Funding through the Housing Trust Fund must be used to assist
the development of housing or provide housing services to very
low-income Missourians. Eligible MHTF activities include
programs providing emergency assistance for homeless prevention,
permanent housing for the homeless, rental assistance, home
repair, construction/rehabilitation of homeless and transitional
housing facilities, and program operating support. Staff has
reviewed all of the applications received in October 2005,
including two statewide proposals. Proposals cover services in
every county in the state.
HOME
Repair Opportunity Program (HeRO)
The
Homeownership Department received 11 requests from community
agencies for home repair assistance funds totaling more than
$2.5 million with only $1.4 million in funding available. The
program provides funding to meet the growing need for home
repair for rural low and moderate income homeowners using
federal HOME funds.
The actual
funding approved by the Commission should be announced some time
following the meeting and will be available on the MHDC Web
site.
###
Additional information is
available on these applications. If you would like more
information, contact Brandon Laster by phone or e-mail. Please use
tracking numbers when requesting information on Rental
Production and Trust Fund applications so that we can provide
you better service.
Staff
recommendations for the Commission will be posted to the Web
site on midday, Monday, Dec. 5. These recommendations will be
considered by the full Commission during its meeting on Friday,
Dec. 9 and information on approved funding should be available
on the afternoon of Dec. 9 (if the Commission accepts all staff
recommendations). If changes result from the meeting, the
information may not be fully available until Monday, Dec. 11.
Media reps
with critical deadlines before 5 p.m., Dec. 9 should ensure they
provide deadline information to MHDC prior to Dec. 9.
Information will be available by e-mail, voice or fax as
indicated above.
