This week, Michigan State Housing Development Authority (MSHDA) released a new funding source to help support housing assistance from employers!
This looks to be a great tool for employers to directly aid in the housing crisis. This officially opens for applications on Feb 24. There are a range of options for employers to be involved in housing, some examples from around Michigan:
Down Payment Assistance - provide loans or grants to cover the down payment of a home (Covenant HealthCare in Saginaw does this)
Direct housing subsidies - provide a stipend to offset the cost of housing
land donation/lease - divest of some employer owned property to aid in development of more housing (University of Michigan Health - Sparrow has done this)
Real estate development - take the crisis in your own hands and take on development of new housing (Shorts Brewery and Peterson Farms have done this)
MSHDA will match employer contributions 1:1, up to $2,000,000.
This is a competitive grant program, and there are housing projects in the works across Newaygo County that your support can have a monumental impact on. This is an incredible opportunity for local employers to maximize their impact on our local economy.
Please reach out to Julie Burrell (burrellj@rightplace.org) if you are interested in exploring what housing projects are in the works in your area and if you are interested in participation with this program. Only one grant per city/village is allowed, and there are limited funds during this pilot program. ($10M statewide).
You can find more detail here:
