The Michigan State Housing Development Authority (MSHDA), established
in 1966, provides financial and technical assistance through public and private partnerships
to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant
cities, towns and villages, and address homeless issues.
MSHDA's loans and operating expenses
financed through the sale of tax-exempt and taxable bonds and notes to
private investors, not from state tax revenues. Proceeds of the
bonds and notes are loaned at below-market interest rates to developers
of rental housing, and also fund home mortgages and home improvement loans. MSHDA
also administers various federal housing programs.