Gov. Whitmer announces funding for local low-income housing
“Governor Gretchen Whitmer and the Michigan State Housing Development Authority (MSHDA) announced $250 million in funding through Low-Income Housing Tax Credits (LIHTC) on Thursday, April 4 to 22 new construction and rehabilitation housing projects across the state, including five in mid-Michigan. LIHTCs are federal tax credits administered through MSHDA following a competitive application process, the governor’s office said. Developers who receive Low-Income Housing Tax Credits can claim credit against their tax liability annually for up to 10 years. The 9 percent LIHTC round is awarding $25,065,677 of tax credits, with a total value over the next 10 years of about $250 million.”