During a regular meeting on July 30, the Michigan State Housing Development Authority (MSHDA) Board took steps to ensure affordable housing investment, preservation, and equity. The board approved resolutions that will enable PK Development Group LLC of Okemos to be reimbursed with bond proceeds for eligible expenses related to acquiring and rehabilitating 264 affordable housing units in rural communities across Michigan, including the Upper Peninsula. The developments will be consolidated to 10 projects that preserve housing affordability. Eight of the developments will be family housing and two will be designated for the elderly, and all reserved for tenants making up to 60% of the area median income.
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