The federally funded HOME program provides a financing source for several eligible activities that increase the supply of affordable housing for low and very low income persons. One of these activities is the acquisition and rehabilitation or new construction of rental housing. As HOME Administrator for the State of Missouri, MHDC uses a portion of its annual HOME allocation to finance rental production at a very low interest rate, which results in rents that are affordable to low income families.
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Community action agencies, regional planning commissions, municipalities and nonprofit organizations can help low and moderate income homeowners in non-metropolitan areas make home repairs, modifications and other maintenance.
The Missouri Housing Development Commission (MHDC) provides assistance to very low-income Missourians.
Applicants must be a nonprofit, or for-profit corporation or partnership entity formed pursuant to applicable Missouri law, must be an entity in good standing with the state of Missouri and provide housing or housing services. MHDC Fund Balance monies will not be awarded to individuals.
Cities and counties can purchase or construct certain types of projects, such as warehouses, distribution facilities, and industrial plants with bond proceeds to then lease or sell to a company.
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No new authorizations or issuance of tax credits shall be made after December 31, 2018.