Media RELEASE/REQUEST TO PUBLISH – DEC 15, 2006

Commission funds 39 affordable housing developments across the state

KANSAS CITY – The Missouri Housing Development Commission decided to fund 39 development proposals for affordable housing during the Dec. 15 meeting in Jefferson City.  The proposals are expected to provide 1,335 affordable housing units for Missouri citizens.

Eleven of the developments are directed toward providing senior housing.  The total also includes six rehabilitation projects, four building conversions, one rehab/conversion combination, and 28 new construction projects.   Developments in

MHDC administers rental housing production and preservation programs including the federal and state low income housing tax credits.  Financing for rental housing production programs also consist of MHDC fund balances and federal "HOME" funds. At least 15 percent of HOME funds are set aside for Community Housing Development Organizations (CHDOs) and 10 percent of the tax credits are set aside for developments sponsored by not-for-profit organizations.

Developers submitted 114 affordable housing development proposals for 2007 funding in response to a Notification of Funding Availability issued in August.    The most important funding criteria included: greatest need, mayor’s list/local support, DREAM initiative, preservation of project-based rental assistance, neighborhood revitalization, senior housing, single family home ownership potential (after 15-year compliance period), special features (solar power, energy efficiency, green building, tenant-enriched services), construction quality and workforce housing in areas of economic growth.

The 39 development proposals approved for funding are located in the following cities (numbers indicate multiple proposals for those locations):
 

A detailed list of funded developments throughout the state is available on the Web at http://www.mhdc.com/.
Requested funding far exceeded the funds available. Funding requested and available included:
 

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MEDIA REPRESENTATIVES - Media representatives who want to discuss the results and obtain more information from MHDC should contact Brandon Laster, Public Information Officer. A formatted text document will be available for e-mail upon request. Questions can be directed to Brandon Laster at 816.759.6692 or e-mail blaster@mhdc.com.