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Notice of Funding Availability

MHDC & HOME Rental Housing Production Programs

Federal & State Low Income Housing Tax Credits
(9% Credits)


Revised November 21, 2008


The Missouri Housing Development Commission (MHDC) hereby notifies interested parties of the availability of funds for production or preservation of rental housing as follows:


$ 3,000,000 of FY 2009 MHDC Fund Balances for the production of single-family rental homes for eventual homeownership opportunities (funded in conjunction with Low Income Housing Tax Credits)


$10,088,500 of FY 2009 HOME* Funds


$ 2,166,000 of FY 2009 HOME* Community Housing Development Organization (CHDO) funds


$ 2,500,000 of FY 2009 HOME* for Tax Exempt Bond Subordinate Financing**


$18,000,000 (approximately) of 2009 Existing Federal Low Income Housing Tax Credits- Revised 11/21/2008


$8,000,000 (approximately) of 2008 Disaster Federal Low Income Housing Tax Credits


$11,700,000 (approximately) of State Low Income Housing Tax Credits

*HOME funding awards are subject to federal requirements including Davis-Bacon prevailing wage requirements and Section 3 of the Housing & Urban Development Act of 1968, as amended, and the regulations in 24 CFR 135.


**Any HOME funds remaining after award to Tax Exempt Bond proposals may be committed to proposals awarded 9% Low Income Housing Tax Credits. Additional HOME funds may be available if program income earned exceeds original projections.

The funding is available to interested applicants who will rehabilitate or construct new rental housing units for low and moderate income families and individuals in the State of Missouri. Applications for funding for the FY 2009 NOFA round were accepted by MHDC through the deadline of 4:30 p.m. CDT on September 5, 2008. Decisions regarding proposed developments will be made during the month of December 2008. Funds remaining after December approvals shall be made available through a Round 2 Notice of Funding Availability.




Qualified Allocation Plan Amended 11/21/2008