Agency makes funding available for
rental housing construction and rehabilitation
The Missouri Housing Development
Commission (MHDC) has announced the availability of millions of dollars
in 2004 funding for rehabilitation or construction of rental housing
units for low- and moderate-income families in Missouri.
Interested developers, community
agencies and other sponsors will be able to apply for funding that
includes $7 million in MHDC loan funds and more than $14 million in
federal HOME loans, including $2.65 in federal HOME funds earmarked
especially for nonprofit housing organizations. MHDC will also allocate
approximately $9.9 million of federal Housing Tax Credits and $9.9
million of state Rental Housing Tax Credits.
Funding is available to interested
sponsors who will rehabilitate or construct new rental housing units for
low- and moderate-income families in the State of Missouri.
MHDC administers rental housing
production and preservation programs including the federal and state low
income housing tax credits. Tax credits are allocated to a qualified
development, which are generally sold to generate equity. Annually,
MHDC accepts applications to fund production and preservation of rental
Forty-nine affordable housing
developments were approved for
funding by the Missouri Housing Development Commission in January 2003.
The developments were selected from a list of 119 developments proposed
by private and nonprofit housing developers.
A Developer Application Packet is
available on the MHDC Web site at
http://www.mhdc.com/ and includes the FY2004 Qualified Application
Plan, Checklist, Applications, Forms, Guidelines and Handbooks.
Application packets are also available on a computer diskette. Contact
Patti Duett at (816) 759-6842 to request a diskette or printed copy of
the Application Packet through the mail.
Applications will be accepted by MHDC
staff in their office at 3435 Broadway in
Kansas City until 4 p.m. Central
Daylight Time on October 27, 2003.
Decisions regarding funding of proposed developments are scheduled to be
made in January 2004.
NOTE TO EDITORS: Media representative questions can be directed to Brandon Laster, Public Information Officer, at 816.759.6692 or e-mail