MSHDA Awards $359,700 for Rental Rehabilitation in Adrian

Lansing ?Michigan State Housing Development Authority (MSHDA) Executive Director Keith Molin recently announced a grant totaling $359,700 for rental rehabilitation to rental units in Adrian in Lenawee County. The funding for this project is available through the federal Community Development Block Grant (CDBG) program and will be administered by MSHDA's office of Community Development.

"The pride of Michigan is represented by each of our communities," Molin said. "The funding provided through these grants will allow communities like Adrian to grow and thrive, creating a better economic environment as well as job opportunities."

The city of Adrian will use the grant funds to assist landlords with the rehabilitation of rental units. Four (4) property owners have expressed interest in developing units in underused space in the downtown. The city of Adrian is relocating city offices within the downtown as part of a revitalization strategy, the former site will be redeveloped as a public green space. The city of Lapeer will create seven (7) new rental units and rehabilitate two (2) rental units located in downtown Adrian.

MSHDA's vision in the 21st century is to improve the quality of life for all Michigan residents and create vibrant communities by focusing on providing safe, affordable housing through homeownership and rental programs; ending homelessness; and revitalizing neighborhoods and downtowns. MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds and notes to private investors, not from state tax revenues. For information on this and other MSHDA programs, visit the Web site at www.michigan.gov/mshda.

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