FINANCIAL_SERVICESRECOMMENDED

Michigan State Housing Development Authority Board Meeting Agenda April 2026

NEST Community Partners Recommended for $1.2M HCDF Grant

$1,200,000Michigan State Housing Development AuthorityNEST COMMUNITY PARTNERSApril 16, 2026

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Description

MSHDA staff recommended a $1.2 million HCDF HPPCBISO grant to NEST COMMUNITY PARTNERS to acquire and preserve a 20-unit mixed-use development in Traverse City for 60%–120% AMI households from May 1, 2026 to April 30, 2028. The award will support long-term housing production and preservation goals.

Contract Details

Contract Amount

$1,200,000

Vendor

NEST COMMUNITY PARTNERS

Agency

Michigan State Housing Development Authority, MI

Contract Type

FINANCIAL_SERVICES

Document Date

April 16, 2026

Contract Term

May 1, 2026 - April 30, 2028

Renewal Date

2028-04-30

Renewal Info

HCDF grants must be used within two years of the resolution date or are subject to recapture; grant and regulatory agreements will govern ongoing compliance and potential extensions.

Issuing Agency