Media Release Contact: Brandon Laster, Public Information Officer (816) 759-6692 or blaster@gmail.com

Release No. 99-08-16
Aug. 17, 1999

MHDC ANNOUNCES AVAILABILITY OF HOUSING ASSISTANCE MONEY

[Kansas City] -- The Missouri Housing Development Commission has announced the availability of funds for agencies and organizations providing housing assistance for low-income families in Missouri.

Almost $5 million in funding will be made available through the Missouri Housing Trust Fund (MHTF) for the 2000 fiscal year. With this year's funding allocations, the Trust Fund will have provided almost $20 million in housing assistance since its inception in 1996. The money is generated through a $3 fee on the recording of all real estate-related documents in the state.

MHTF funds must be used to financially assist the development of housing or provision of housing assistance to very low-income individuals and families. All persons assisted by MHDC funds must have income at, or below, 50 percent of the median family income for the geographic area. Half of the funds must be used to assist individuals or families with income at, or below, 25 percent of the median family income for the geographic area.

The Commission approved more than $4 million in MHTF funding for 55 projects throughout the state for the 1999 fiscal year.

Eligible MHTF activities include programs for homeless Missourians, emergency utility and rental assistance and development of new or rehabilitated rental housing that are funded through grants or loans.

MHTF is designed to increase affordable housing opportunities for low-income families. The process of granting or loaning funds to housing providers across the state is accomplished by the comparison of competing applications.   Selection is based on need, location, targeted population served, funds leveraged, coordination with the community, and experience of the providers.

Application packets are available on the MHDC Web site at www.mhdc.com or by calling Renee Ford at (816) 759-6666. The application packet will include the 2000 Qualified Allocation Plan, the revised application and the revised program guidelines. Applications for funding will be accepted by MHDC until 5 p.m., Nov. 2, 1999.

Decisions regarding proposed developments will be made during the February 2000 Commission meeting. All proposals must be submitted on the Fiscal Year 2000 application form and will be accepted at MHDC offices at 3435 Broadway, Kansas City, Missouri 64111 and 4625 Lindell, Suite 500, St. Louis, Missouri 63108.

-30-

A list of agencies receiving approval for 1999 funds is found at  http://www.mhdc.com/news/1999/99-03-06.htm.