HOME grant projects create positive, sustained local impact throughout the state
Lansing, MICH. – (RealEstateRama) — The Michigan State Housing Development Authority recently announced just over $1 million in HOME Investment Partnerships Program (HOME) grants, which will allow home rehabilitation and repair projects to move forward across the state.
“These grants make a lasting difference in communities,” said Earl Poleski, executive director of MSHDA. “When the physical condition of housing improves for one homeowner, it tends to have a ripple effect that motivates surrounding home and businesses owners to renovate or repair their structures, too. This has a profound positive impact on neighborhoods and their residents.”
HOME is a U.S. Department of Housing and Urban Development program that helps build, buy or rehabilitate affordable housing for rent or ownership, often in partnership with local nonprofit groups. This is a flexible program that allows state and local governments to use HOME funds for grants, direct loans, loan guarantees, rental assistance, security deposits or other credit enhancements.
MSHDA awarded these HOME funds for homeowner rehabilitation and homebuyer assistance to elevate and improve low- to moderate-income households. HOME funds are reserved for households at or below 80% of area median income.
In all, 12 cities and three townships across the state will benefit, with awards ranging from $60,000 to $176,000. One of the cities receiving assistance, Grayling, is a Rising Tide community. Rising Tide is an initiative sponsored by the Michigan Department of Talent and Economic Development that provides communities with the tools to design and build a solid planning, zoning and economic development foundation to attract new businesses and help existing employers to grow.
The HOME program grantees are:
Sturgis Neighborhood Program – $150,000
Sturgis Neighborhood Program is proposing to complete two projects in the city of Sturgis.
St. Clair County – $132,500
St. Clair County is proposing to implement a homeowner rehabilitation program in Algonac for five or six homes.
Northern Homes – $120,000
Northern Homes is proposing to complete four projects within targeted areas of Alanson, Petoskey, Boyne City, Charlevoix and East Jordan.
Capital Area Housing Partnership – $75,000
Capital Area Housing Partnership is proposing to build a new three bedroom, one-and-half bath home on a lot located in East Lansing’s Bailey Neighborhood.
Battle Creek Area Habitat for Humanity – $60,000
Battle Creek Habitat will acquire, rehabilitate and sell one home in a stable core neighborhood of Battle Creek.
Alpena County Home Improvement Program $132,000
Alpena County is proposing to rehabilitate seven units in the city of Alpena.
Crawford County – $176,000
Crawford County is proposing 10 homeowner rehab projects within the city of Grayling and Grayling Township.
HOME of Mackinac County – $80,000
HOME of Mackinac County is proposing to complete three projects within the city of St. Ignace, St. Ignace Township and Moran Township.
City of Lapeer – $88,000
City of Lapeer is proposing to complete two units of homeowner rehab.
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.
Media Contact: Misty Miller