|Missouri Housing Development Commission|
> Federal HOME Program
The federally funded HOME program provides a financing source for several eligible activities that increase the supply of affordable housing for low and very low income persons. One of these activities is the acquisition and rehabilitation or new construction of rental housing. As HOME Administrator for the State of Missouri, MHDC uses a portion of its annual HOME allocation to finance rental production at a very low interest rate, which results in rents that are affordable to low income families.
Developers (for-profit and non-profit) are eligible to apply for financing. Applicants must demonstrate prior, successful housing experience and engage the services of housing professionals; such as, architects, appraisers, attorneys, accountants, contractors and property managers with demonstrable multifamily housing experience. Developers must have the financial capacity to successfully complete and operate the proposed housing development.
developments must comply with the following parameters:
Determined annually by HUD, depending on Congressional appropriation.
For additional information contact Frank Quagraine, 816.759.7210.