Lansing, MI – May 21, 2012 – (RealEstateRama) — Michigan State Housing Development Authority (MSHDA) Executive Director Gary Heidel recently announced funding for $125,000 for rental rehabilitation to units in Oscoda. The funding for this project is available through the Community Development Block Grant (CDBG) program and will be administered by MSHDA’s Community Development division.
“The pride of Michigan is represented by each of our communities,” said Heidel. “The funding provided through these grants will allow communities like Oscoda to grow and thrive and create new economic and job opportunities.”
The Community Development Block Grant (CDBG) program is a flexible program that provides communities with resources to address a wide range of unique community development needs. Beginning in 1974, the CDBG program is one of the longest continuously run programs at the U.S Department of Housing and Urban Development (HUD).
Oscoda County will use grant funds for downtown homeowner rehabilitation. Oscoda County will rehabilitate five (5) owner-occupied homes throughout Oscoda County.
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:
Mary Lou Keenon
Communications
517.373.0011
Local Contact:
Joseph Stone
989.826.1167
