LANSING – The Michigan State Housing Development Authority Board approved a resolution Wednesday asking the Legislature to create the Michigan Mezzanine Investment Fund. The new fund would use MHSDA bond revenues to invest in housing projects around the state.
“Once approved by the Legislature, the Authority is poised to help fill the gap in the housing market, encouraging investment in Michigan while diversifying MSHDA revenue streams. This will free up more funds for investment in affordable housing for our state’s low-to-moderate income residents,” MSHDA Board Chair Tom Saxton said in a statement. “We believe investors are ready to start investing in Michigan again. This fund shows MSHDA’s commitment to the industry, our state and our commitment to investors.”
The fund would be created under SB 347 currently pending in the House.
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