Pre-development loans are available to
assist nonprofit housing developers who are (or will be) seeking MSHDA financing
for an affordable housing project. Pre-development loans fund up-front project
expenditures, providing a form of line of credit that many nonprofit developers
need but often have difficulty obtaining from private sources. Pre-development
loans must be related to a specific housing project. Eligible activities include
feasibility studies, architectural plans and specifications, zoning and engineering
studies, environmental assessments, attorney fees, site control expenses, and
title clearance costs. Acquisition costs will be considered on a case-by-case
basis.
For further information about these programs please contact MSHDA's Office of Community Development at (517) 373-1974.
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