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SOURCE Michigan State Housing Development Authority
Submissions due by March 28
LANSING, Mich., Jan. 28, 2014 /PRNewswire-USNewswire/ -- The Michigan State Housing Development Authority (MSHDA) is taking its placemaking role to the neighborhood level as it kicks off the 2014 application campaign for the MiNeighborhood Program.
MiNeighborhood is designed for communities that want to complement a Main Street or traditional commercial district revitalization project with a nearby neighborhood redevelopment. While the program provides no direct funding it does offer valuable technical assistance and guidance about available resources.
"This program is based on the premise of the Main-Street-Four-Point Approach™ used successfully by the Michigan Main Street Center here," said Scott Woosley, MSHDA executive director. "Just as we did with downtowns, we have developed an approach for successful neighborhood revitalization that involves placemaking. The result will be vibrant, thriving places to live."
Once accepted into the program through the application process, MiNeighborhood works with each targeted neighborhood association and local and statewide organizations to identify and address needs. It connects the area with existing and emerging opportunities, which leverages resources that will help in the revitalization process.
Neighborhood associations must be within one-quarter to one-half mile of a downtown or approved commercial district to be considered for entry into the program. For other eligibility criteria, visit michigan.gov/mshda.
"Our goal is to help further enhance downtowns by promoting positive changes in image, marketability, physical condition and appearance of the participating neighborhoods," Woosley said.
The four focus areas of the MiNeighborhood program are:
Some benefits of the program could be increased taxable values of homes within the neighborhood, a higher move-in rate, increased resident volunteer hours, higher average home prices and a greater number of neighborhood events. It also may decrease crime, foreclosure rates, vacant buildings, vacant lots, blighted properties and landlord/homeowner citations.
The MiNeighborhood program ties in with Governor Snyder's placemaking efforts to create vibrant communities across Michigan. These efforts are based on studies showing that investing in placemaking creates vibrant neighborhoods, city centers and downtowns, making the state economically stronger.
For an application, along with a complete list of eligibility rules, visit the MSHDA website, michigan.gov/mineighborhood. Submissions are due by 4 p.m. March 28. Selections will be announced by May 1.
For more details about the program, contact Lori LaPerriere at 517.241.4117 or email firstname.lastname@example.org.
The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income residents and to engage in community economic development activities to revitalize urban and rural communities.*
*MSHDA's loans and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs. For more information, visit www.michigan.gov/mshda.
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