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Seven Cities of Promise Communities Selected for Downtowns of Promise Program

MSHDA News Release       

Contact: Mary Lou Keenon
Communications
Telephone: 517/373-0011

FOR IMMEDIATE RELEASE
February 23, 2010

Seven Cities of Promise Communities Selected for Downtowns of Promise Program

Lansing – Keith Molin, executive director of the Michigan State Housing Development Authority (MSHDA) announced today that seven Cities of Promise communities have been chosen to take part in the Downtowns of Promise program. The Downtowns of Promise program will focus on creating an action-oriented strategy that will help in the efforts of revitalizing their traditional downtown or traditional commercial neighborhood districts. The seven communities selected for the Downtowns of Promise are Benton Harbor, Detroit, Flint, Hamtramck, Highland Park, Muskegon Heights and Saginaw.


"The goal of the Downtowns of Promise program is to ensure these Michigan communities have attractive downtown or traditional commercial neighborhood districts to live, raise a family and to start and grow a business." Molin said "In order for the state's overall economy to succeed, its traditional downtowns and neighborhoods must gain population, generate business and attract private investment."

In the continuing effort to impact the development and revitalization of Michigan's traditional downtowns and neighborhoods, the Michigan Main Street Center @ MSHDA, in conjunction with the Michigan Municipal League (MML) is offering the Downtowns of Promise program. The action-oriented strategy will result in achievable and measurable goals for each of the traditional downtown or traditional commercial neighborhood districts' revitalization efforts.

The Michigan State Housing Development Authority is dedicated to building a thriving and vibrant future for Michigan. MSHDA provides tools and resources to improve people's lives through programs across the state. These programs assist with housing, build strong neighborhoods, and help create places where people want to live and work and play. MSHDA's programs work in four areas: affordable rental housing; supporting homeownership; ending homelessness; and creating vibrant cites and neighborhoods.*

*MSHDA's loan and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs.

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