LANSING – January 08, 2012 – (RealEstateRama) — Michigan State Housing Development Authority (MSHDA) Executive Director Scott Woosley today announced three Upper Peninsula communities will receive Community Development Block Grants (CDBG) totaling $830,600.
MSHDA administers the federally-funded CDBG program through its Office of Community Development. CDBG funds are used by smaller communities and counties to upgrade homes owned by lower-income residents and carry out other housing activities. Money also is used to fund neighborhood preservation programs, down-payment assistance programs as well as rental development and rehabilitation activities.
The grantees:
The Village of Calumet, in Houghton County, will receive $505,600 for use on a downtown rental project that involves the rehabilitation of 13 units in the former Morrison Street School building.
Details: Grant administrator, Sue Dana, 906.337.1713.
Chippewa County will receive $200,000 in grant funds for 26 homeowner rehabilitation projects, for things such as emergency repairs and bringing moderate-income households up to housing quality standards.
Details: Grant administrator, 906.635.6330.
Schoolcraft County has been awarded $125,000 to provide homeowner rehabilitation and emergency repairs to five homes that meet the moderate-income criteria.
Details: Grant administrators, Daniel LaFoille, 906.341.3190; and Daniel McKinney, 906.341.3618.
“I take great pride in announcing these grants, which will help revitalize areas of the Upper Peninsula and raise the standard of living for residents,” Woosley said. “It is critical to our state’s future to preserve decent, affordable housing for low- and moderate-income residents and to support activities that revitalize all communities, whether they are urban or rural.”
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
Contact:
Katie Bach
Media Affairs Manager
Telephone: 517.335.4786
