November 22, 2010 – (RealEstateRama) — Missouri Housing Development Commission (MHDC) has received 110 applications from developers for the construction of new affordable housing developments and the rehabilitation of existing properties. MHDC administers the federal and state low-income housing tax credits and federal HOME monies to developers who provide affordable housing, designed to serve low- and moderate-income populations in the state of Missouri.
In this current funding round, the Notice of Funding Availability was publicized on September 1, 2010, and applications were due to MHDC on November 8, 2010. MHDC rental production staff is now reviewing and evaluating applications, using selection criteria including the following: housing need, type of development, feasibility and community impact, property design, tenant population, market characteristics, site characteristics such as marketability and neighborhood land uses, and developer characteristics. Staff will present its funding recommendations to the MHDC Board of Commissioners in February 2011.
MHDC will hold public hearings throughout the state during the month of January 2011. These hearings allow Missourians to voice support, concerns or pose questions about the developments proposed in specific areas of Missouri. The feedback received from these hearings plays a significant role in determining the applications that are approved.
The list of submitted applications is available at http://www.mhdc.com/nofa/FY2011_Applications/default.htm.
In addition to administering the federal and state funding for the construction and rehabilitation of affordable housing, Missouri Housing Development Commission offers low-interest mortgage loan programs for first-time homebuyers and administers the Missouri Housing Trust Fund to help prevent homelessness and to provide emergency housing assistance for very low-income Missourians.
Andi Benson, communications administrator
816.759.6658 or 816.516.0148
Kansas City, MO 64111