New Release – Jan. 18, 2002 Release No. 03-2002

Commission finances 41 affordable housing developments for 2002

KANSAS CITY – Forty-one affordable housing developments were approved for funding by the Missouri Housing Development Commission during their monthly meeting in Kansas City today.
The developments were selected from a list of 129 developments proposed by private and nonprofit housing developers (three proposals were submitted but returned as incomplete applications). The developments will receive more than $18 million in federal HOME loans and grants, almost $7 million in MHDC loans and $9.79 million in both federal and state Housing Tax Credits. More than $6 million of the funding was provided to nonprofit Community Housing Development Organizations.

MHDC administers rental housing production 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. Staff reviewed 129 proposals submitted in October 2001 before making their funding recommendation to the Commission.
MHDC allocated funding for the development or rehabilitation of 1,619 units of affordable rental housing in the following locations (numbers indicate more than one proposal for that location):