Federal, State, Local, and Private
MHT Housing, Inc. obtains funding through MSHDA’s Low-Income Housing Tax Credit (LIHTC) program as well as HUD programs. In additional to conventional funding, MHT works closely with local, state and federal sources to secure gap financing often necessary for new development or the redevelopment of existing housing. The financing sources include: LIHTC, Detroit HOME Funds, Federal Home Loan Bank, MSHDA Home, Brownfield, T-Cap as well as state and federal historic funds. MHT has cultivated great relationships with investing institutions which have allowed them to be creative and innovative in structuring unique deals. MHT’s success has even led to its banking partners reaching out to MHT to seek new developments.
Working with Investors
Over the years, MHT has developed solid relationships with some of the country’s top financial institutions that invest in tax credit equity. They have built confidence with their investors in by consistently providing financially sound and long-term successful developments. These relationships are also solidified by MHT’s reputation for always meeting and surpassing the requirements and expectations of a limited partner. With the purchase of low income housing tax credits by investors it also allows MHT to lower the mortgage amount and reduce rents making them affordable for lower income residents.