LANSING, Mich. – February 27, 2015 – (RealEstateRama) — Michigan State Housing Development Authority’s (MSHDA) community development division announced that Arenac County will receive $295,000 in community development grant money.
“Supporting community development activities enhances the social and economic health of our state,” said Wayne Workman, acting executive director for MSHDA.
The grant funds will be used for rehabilitation projects on approximately 30 owner-occupied homes in Standish and Au Gres.
“These community revitalization projects are great news for Arenac County homeowners and the entire Great Lakes Bay Region,” said Sen. Jim Stamas, R- Midland. “This is about helping build a better Michigan.”
MSHDA is dedicated to building a thriving future for Michigan residents by creating places where people want to live, work and invest. Affordable housing and vibrant placemaking are top priorities for MSHDA. Financial resources and technical assistance is available to local and statewide partners committed to investing in Michigan’s growth.
“Access to affordable, safe housing is a vital component to attracting residents and job creators to Michigan,” said Sen. Stamas.
The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income residents and to engage in community economic development activities to revitalize urban and rural communities.*
*MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs. For more information, visit www.michigan.gov/mshda.