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Mississippi Affordable Housing Development Fund (MAHDF)

Mississippi Affordable Housing Development Fund (MAHDF). Ben Mokry Executive Vice President Research and Development Mississippi Home Corporation. MHC administers the Mississippi Affordable Housing Development Fund (MAHDF), established in 1989 under MS Code 43-33-759.

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Mississippi Affordable Housing Development Fund (MAHDF)

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  1. Mississippi Affordable HousingDevelopment Fund (MAHDF) Ben Mokry Executive Vice President Research and Development Mississippi Home Corporation

  2. MHC administers the Mississippi Affordable Housing Development Fund (MAHDF), established in 1989 under MS Code 43-33-759. • Can be used for any of the purposes established in law for Mississippi Home Corporation • Funding (State General Obligation Bonds) • 1994: $6 mil • 1998: $2 mil Legislation

  3. Making housing development mortgage loans to qualified sponsors for low and moderate income rental or residential housing; • Making loans to low and moderate income purchasersof residential housing • Purchase from mortgage lenders any of the loans enumeratedabove • To insure, reinsure or guarantee any of the types of loans • Temporary loans, preconstruction loans, interim financing loans to any qualified sponsor and permanent financing to any qualified sponsor of multifamily housing. MAHDF Eligible Uses(Using Bond Funds)

  4. From funds not otherwise encumbered by pledge or indenture loans to low and moderate income persons for :   (a) Purchasing, improving or rehabilitating existing residential housing and occupied by the owners; •    (b) Making loans to qualified nonprofit sponsors, to local housing authorities and to owners of residential housing for the development, construction, purchase, rehabilitation, weatherization or maintenance of residential housing.   (a) Establish a rental assistanceprogram;   (b) Provide such advisory consultation, training and educational services as will assist in the planning, construction, rehabilitation and operation of housing •    (c) Encourage research and demonstration projects to develop new and better methods for increasing the supply, types and financing of housing and to receive and accept contributions, grants or aid from any source, public or private, including but not limited to the United States and this state, for carrying out this purpose;   (d) Encourage and stimulate cooperatives and other forms of housing with tenant participation;   (e) Promote innovative programs for home ownership, including but not limited to lease-purchase programs, employer-sponsored housing programs, tenant cooperatives and nonprofit associations;   (f) Design and support programs to address special needs groups including, but not limited to, handicapped, disabled, elderly, homeless, HIV/AIDS carriers and families with children;   (g) Develop a comprehensive plan for, and engage in a yearly planning process for, addressing the housing needs of low and moderate income persons in Mississippi. MAHDF Eligible UsesUsing non-bond funds

  5. MAHDF 1995-2012

  6. MAHDF 1995-2012

  7. $25.9 mil First Mortgage Loan Volume $405 mil MAHDF 1995-2012

  8. MAHDF VOLUME

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