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MSHDA was created as a result of the State Housing Development Authority Act of 1966 (Act 346 of 1966). [1] The purpose of this act was to establish funds in housing development , land acquisition and development, rehabilitation, conversion condominium fund, and to provide for the expenditure of certain funds.
The funds came from the Neighborhood Enhancement Program through the ... The City of Monroe chose the Orchard East neighborhood for the grant based on need. "MSHDA sets the income guidelines for ...
In 2023, the LIHTC program is estimated to cost the government an average of $13.5 billion annually. [1] A 2018 report by the GAO covering the years 2011-2015 found that the LIHTC program financed about 50,000 low-income rental units annually, with median costs per unit for new construction ranging from $126,000 in Texas to $326,000 in California.
All U.S. states are automatically eligible for HOME funds, and each receives a minimum of $3 million for the program, while local governments receive a minimum of $500,000 (unless the United States Congress assigns $1.5 billion or less to the program, in which case they receive a minimum of $335,000). [2]
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Labeled as "ex-burbs," these areas are usually 40-60 miles away from major metropolitan cities and can offer more peaceful ways of life and "affordable housing" options.