Media Release 3435 Broadway, Kansas City, Missouri 64111; Fax: 816-759-6828

Release No. 2000-02-02
February 2, 2000

HOUSING FUNDING DECISIONS AGENDA ITEM FOR FEB. 25 MEETING

KANSAS CITY -- The Missouri Housing Development Commission (MHDC) will decide the funding for the fiscal year 2000 affordable housing developments and distribution of Missouri Housing Trust Fund monies during their monthly meeting atr 10 a.m., Feb. 25 in Jefferson City. The meeting will be held in the Truman State Office Building, Room 490 and is open to the public.

The completion of public hearings held by the Missouri Housing Development Commission (MHDC) marked the end of one of the final phases of the Fiscal Year 2000 Rental Production allocation process. Hearings were held in January in Kansas City, St. Louis and Jefferson City to allow public input regarding 115 multifamily rental development proposals.

In November, MHDC staff received 119 proposals in response to a Notification of Funding Availability published in August. Four proposals were withdrawn for consideration before the public hearings were held:

Staff now works putting the finishing touches on the recommendations for funding that will be presented to the Commission at the meeting.  Proposals have been submitted for developments in the following communities:

This year's funding includes $7 million in MHDC funds, $10,183,000 in federal HOME loans or grants, and $2,205,000 in federal HOME Community Housing Development Organization funds. MHDC will also allocate approximately $6.75 million of federal and $6.75 million of state Housing Tax Credits.

MHDC usually has funds for approximately 25-30 percent of the proposed developments.  This year, developer's have requested more than $24 million in housing tax credits.

Staff also will recommend the distribution of almost $5 million from the Missouri Housing Trust Fund for organizations providing housing assistance for low-income families.

The MHTF 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.

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List of Fiscal 2000 Rental Production Proposals
List of Fiscal 2000 Missouri Housing Trust Fund Applications

Fact Sheet - Housing Tax Credits

NOTE TO MEDIA: A complete list of those developments approved for funding will be posted on the MHDC website no later than Monday, Feb. 28 and a media advisory will be faxed to Missouri media outlets.. If you do not plan on attending and have an early deadline, please notify Brandon Laster, MHDC Public Information Officer, (816) 759-6692, prior to the meeting date so appropriate arrangements can be made. A copy of the release will also be posted on our website at http://www.mhdc.com. NOTE:  It was erroneously reported that the approved list will be posted Feb. 21.  The Commission will not vote to approve funding until Feb. 25 and the approved list will not be posted until Feb. 28.  We apologize for any inconvenience. -- Webmaster.