NSP 1 Substantial Amendment
Public Comment Period 4/21/2011 - 5/6/2011 |
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The Michigan State Housing Development Authority (MSHDA) submitted the
Neighborhood Stabilization Program revised Action Plan (NSP Plan) to the
U.S. Department of Housing and Urban Development (HUD) on February 3,
2009.
HUD subsequently approved the plan and entered into a grant agreement
with MSHDA on March 19, 2009. The Citizen Participation Plan, Section
II of the 2008 Consolidated Plan, as amended by the October 6, 2008
Federal Register, page 58334, requires that the State solicit comments
from the public regarding proposed substantial amendments to the NSP
Plan during a 15 day public comment period. The State of Michigan is
proposing the following substantial amendment to the NSP Plan, effective
upon HUD's approval:
MSHDA is
proposing a substantial amendment to the NSP Plan on page 12,
Definitions, Affordable Rents. The current definition states:
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MSHDA will adopt the HOME definition of
"affordable rents" at 24 CFR 92.252 (a), (c), and (f).
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MSHDA is proposing the following expanded and revised definition:
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Definition: MSHDA will adopt the following
definitions of "affordable rents" based on the mix of funding sources
within specific transactions:
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For NSP assisted housing units that are also
subject to the income and rent restrictions of Sections 42 or 142 of the
Internal Revenue Code, respectively relating to Low Income Housing Tax
Credits and Tax-Exempt Bond financing, MSHDA will adopt as "affordable
rents" the rents required by Section 42 and/or Section 142.
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For NSP assisted units meeting the Low Income
Set Aside that are also subject to the income and rent restrictions of
Sections 42 or 142 of the Internal Revenue Code, respectively relating
to Low Income Housing Tax Credits and Tax-Exempt Bond financing, MSHDA
will adopt as "affordable rents" the rents required by Section 42 and/or
Section 142 for 50% AMI units.
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(Generically, combined these provisions will
result in a gross rent limit equal to either the 60% AMI tax credit
rent, or, for units designated within the NSP Low Income Set Aside, the
50% AMI tax credit rent.)
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For NSP assisted housing units income
restricted at or below 80% of the area median income and not otherwise
assisted with Low Income Housing Tax Credits or Tax-Exempt Bond
Financing, MSHDA will adopt the HOME definition of "affordable rents" at
24 CFR 92.252 (a)(2), (c), and (f).
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For NSP assisted housing unit income
restricted at or below 120% of the area median income and not otherwise
assisted with Low Income Housing Tax Credits or Tax-Exempt Bond
Financing, MSHDA will adopt as "affordable rents" a rent limit, without
consideration of tenant paid utilities, calculated to be one-twelfth
(1/12th) of 30% of the 100% area median income limit, as determined HUD,
with adjustments for the number of bedrooms in unit.
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Comments |
Comments relative to this substantial amendment should be
provided in writing and addressed to:
Martha
Baumgart
Consolidated Plan Coordinator
MSHDA
735 E. Michigan Avenue
Lansing, Michigan 48912 or emailed to:
baumgartm@michigan.gov.
The 15 day comment period begins April 21, 2011 and
will close May 6, 2011.
Special Assistance: Persons with disabilities needing
accommodations for effective participation in the public comment period
on the NSP Plan should contact Christopher L. LaGrand, Director of Legal
Affairs, MSHDA, 735 East Michigan, P.O. Box 30044, Lansing, Michigan
48909 (517) 373-8295 or TTY (800) 382-4568.
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