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Multi-Family Housing Preservation & Revitalization (MPR)

Multi-Family Housing Preservation & Revitalization (MPR). MPR Program in Missouri. 18 Projects are Participating – 14 of these have been closed Debt Deferral for 45 Loans Amount of Deferral = $5,483,172 888 units have been preserved as affordable housing for another 20 years

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Multi-Family Housing Preservation & Revitalization (MPR)

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  1. Multi-Family HousingPreservation&Revitalization(MPR)

  2. MPR Program in Missouri • 18 Projects are Participating – 14 of these have been closed • Debt Deferral for 45 Loans • Amount of Deferral = $5,483,172 • 888 units have been preserved as affordable housing for another 20 years • Replacement Reserve funding was resized per capital needs assessment • Properties have received additional RD funding • 515 Direct Loans - $1,331,926 • RD Grant Funds - $385,088 • Bullet Loans - $753,946 • 0% Loans - $55,000 • Total RD Financial Investment - $8,009,132

  3. MPR Program • Missouri Housing Development Commission awarded $5,000 to not-for-profit applicants in both 2006 & 2007 • $75,000 • This assisted 14 applicants with soft costs (legal expenses, capital needs assessment, etc.) • 2008 NOFA is out now • Deadline for applying is May 12, 2008

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