Lansing – 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.