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On February 17, 2009, the President signed the American Recovery and Reinvestment Act (ARRA) in an effort to combat the recession, stimulate the economy, and begin systemic reinvestments in the nation's physical and economic infrastructure. The tools from ARRA, in combination with those provided by the 2008 Housing and Economic Recovery Act (HERA), provide the State of Michigan with powerful resources intended to combat national dislocations.

Several MSHDA program areas are affected by or will receive new or additional funding from ARRA, including:

I. Multifamily Rental Housing (Tax Credit Assistance Program and Monetized Credit) 

II. Homeless Prevention and Rapid Re-Housing Program

III. Neighborhood Stabilization Program 2 (NSP2)