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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 federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The main Section 8 program involves the voucher program. A voucher may be either "project-based"—where its use is limited to a specific apartment complex (public housing agencies (PHAs) may reserve up to 20% of its vouchers as such [11])—or "tenant-based", where the tenant is free to choose a unit in the private sector, is not limited to specific complexes, and may reside anywhere in the ...
The Michigan Homeowner Assistance Fund (MIHAF) program, backed by $242 million in federal pandemic relief aid, launched early last year. The Michigan State Housing Development Authority (MSHDA ...
The Michigan Homeowner Assistance Fund has $243M to help, but slow distribution of aid has counselors worried about foreclosures and utility shutoffs. Michigan housing relief program overwhelmed ...
Ann Arbor is a case in point. Housing affordability in the university town is a real challenge. Zillow reports the median rent for a two-bedroom apartment is $1,975 per month; in comparison, a ...