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Subsidy Layering Review Memorandum Of Understanding
In an official signing of a Memorandum of Understanding (MOU)between MSHDA, HUD and USDA-RD on September 29, MSHDA Executive Director Gary Heidel stated in a news release: “Today’s initiative is an important step forward in our efforts to continue affordable rental housing’s success in serving our most rent-challenged and at-risk families. Through the launch of MSHDA’s pilot program, our partners and customers can begin to realize cost- and time-savings that will help enable low-income families to have access to affordable housing where it is needed most.”
In response to the White House’s Domestic Policy Council request for better coordinated federal rental policy, MSHDA has worked with USDA-RD and HUD to align the program requirements of different affordable rental housing government programs. Almost all federal housing programs have statutory requirements requiring the administering agencies to confirm that, at various times in the development process, the total amount of subsidy being provided by public sources does not exceed eligible costs. The Subsidy Layering Review Memorandum of Understanding (SLR MOU) approved by MSHDA, HUD and USDA-RD is an administrative solution that better aligns and utilizes state and federal affordable rental housing program policies. Below are the documents relating to this SLR MOU alignment effort. Readers who have questions pertaining to the SLR MOU should contact Chad Benson at 517-335-9874.