MHDC grants over $10 million in funding for low-income housing projects
COLUMBIA, Mo. – The Missouri Housing Development Commission (MHDC) held their last meeting of 2015 Friday morning in Columbia. They approved over $10 million in funding for various affordable housing and shelter projects for low and middle-income residents and homeless populations.
In the general financial report, the MHDC reported its total assets at $1.74 billion, 41 percent of which are comprised of guaranteed mortgage-backed securities. The commission is reportedly well-conditioned for the current economic climate due to its low-risk profile which is devoid of subprime loans, variable rate debt and interest rate swaps.
The largest approved sum approved by the MHDC went towards the Emergency Systems Grant (ESG).
The ESG will receive over $3.3 million to for various purposes to help the homeless population as well as those at risk of becoming homeless, such as rapid re-housing programs, emergency shelters, street outreach and homelessness prevention. Those funds will be supplemented with other funds from the Department of Social Services’ TANF program.
Other approvals included $3 million for the Missouri Housing Trust Fund, $2.2 million for the Home Repair Opportunity Program, $420,000 for the Housing First Program, and an additional $1.4 million for the Harmony House, a domestic violence shelter in Springfield, Missouri, on top of $700,000 they have already received.