Grants & Loans

  • Blight Elimination MSHDA's Community Development Division (CDD) provides financial assistance to communities to make physical improvements to residential neighborhoods through blight removal of vacant residential structures that are publically owned.
  • Homebuyer Program Through the Housing Resource Fund, CDD awards grants to community-based nonprofits or local units of government to implement programs that promote homeownership for low-income families.
  • Homeowner Program CDD funds homeowner rehabilitation programs offering deferred loans to low-income homeowners with an income at or below 80 percent of the area median.
  • Pre-Development Program Pre-development loans are available to assist nonprofit housing developers who are (or will be) seeking MSHDA financing for an affordable housing project. Pre-development loans fund up-front project expenditures, providing a form of line of credit that many nonprofit developers need but often have difficulty obtaining from private sources. Pre-development loans must be related to a specific housing project.
  • Rental Program CDD's Rental program is designed to improve investor-owned properties and spur economic development in Michigan's downtowns. Funding for Rental is generally provided through the unit of local government with jurisdiction for code enforcement and/or rental licensing.