LANSING, Mich. — Gov. Gretchen Whitmer announced more than $1.4 million in funding for more affordable housing units in Grand Rapids.
The Michigan Executive Office of the Governor says Leonard Apartments will receive $1,405,000 from the federal Low-Income Housing Tax Credit (LIHTC) for 55 new units.
That’s out of $13 million awarded to affordable housing projects across Michigan.
“In Michigan, we are building housing and revitalizing communities to make our cities and towns more affordable places to live, work, and invest,” says Governor Whitmer. “Housing is a national challenge, and in Michigan, we are taking bold actions to meet our goal of building or rehabilitating 75,000 housing units over five years. Having a safe, affordable place to call home is the foundation for upward economic mobility for families and the communities they choose to call home. Let’s keep building housing, lowering costs, and growing our economy.”
We’re told developers may claim LIHTC credits each year for a maximum of 10 years.
READ MORE: Governor Whitmer announces $4.4M more in affordable housing for West Michigan
