Posted Mar 5, 2019, 6:41 AM
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Join Date: Aug 2006
Location: Detroit
Posts: 2,534
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Developers try again for tax credit on low-income housing project
Quote:
NoMi Developers LLC and Nickel Spitters LLC are working together on the project under the name Harrison Circle Limited Dividend Housing Association Limited Partnership. The partners are trying to secure low-income housing tax credits and mortgage financing through MSHDA.
The city already signed off on the tax credit in 2018, but the project did not receive state support. Developers will submit a revised application to MSHDA for the April funding round and needed approval of a new city resolution to prove support at the local level.
Commissioner David Anderson said he expected the project, which he called a “slam dunk” to easily receive MSHDA support, but it failed due to inaccuracies in the application. Anderson, who is also director of housing and facilities for Kalamazoo County’s mental health authority, said NoMi does “quality work."
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