Rental Rehab
MSHDA CDBG DOWNTOWN RENTAL REHABILITATION PROGRAM
Through the Michigan State Housing Development Authority (MSHDA)
Community Development Block Grant (CDBG) funds are being made
available for the purpose of creating and/or rehabilitating rental
housing units within the Downtown area. Funds of up to $35,000 per
unit are available. A minimum of twenty five percent (25%) of the
total project cost is required to be paid by the Property
Owner.
A lien, in the form of a 0% deferred loan, will be placed
against the property for 5 years (known as the Affordability
Period). During this time the Property Owner must agree to rent all
or a portion of their units to Tenant Households with incomes at or
below 80% of AMI (Area Median Income) and at rental rates not to
exceed the FMR (Fair Market Rent) for Hillsdale County. If all
terms and conditions of the Affordability Period are met, the lien
is discharged and no repayment from the Property Owner is
required.
Upon completion, assisted units will meet all local and state
building codes and HUD, MSHDA and MIOSHA requirements.
For more information, contact the Office of Economic
Development, (517) 437-6479 or City of Hillsdale Code Enforcement
Office at (517) 437-6455 or click on the links below:
News
July 20, 2009 - The City of Hillsdale is currently
accepting applications for qualified Contractors who would like to
be included on the "Approved Bidders List" for participation in the
City of Hillsdale Rental Rehab Program. Through the Michigan State
Housing Development Authority (MSHDA), the City has been awarded
Community Development Block Grant funds for the rehab or creation
of approximately 7 rental units on the upper floors of mixed used
buildings in the Downtown area. Minority and Women Owned Business
Enterprises are encouraged to apply. For additional information or
questions about becoming an approved bidder, refer to the
Program Contractor
Handbook or contact Dave Turnbull, Code Enforcement
Administrator, at (517) 437-6455.
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