The Kansas Housing Resource Corporation (KHRC) is a public organization that administers federal and state housing programs on behalf of the State of Kansas. The KHRC requested grant applications from eligible entities for its Moderate Income Housing (MIH) program. The primary purpose of the MIH program is supporting housing for individuals and families with moderate income. The proposed grant application being prepared by Highland Drive Development, LLC is for home buyer assistance. A total of 40 units in the Highland Ridge subdivision would be eligible for a $10,000 home buyer assistance grant, which could be used toward closing costs, down payments, interest rate buy downs, etc. Buyers must be able to meet certain conditions of the program and must be able to obtain a market rate loan. Highland Drive Development, LLC will present its complete application at the meeting.
Please note that while the city is the formal applicant, Highland Drive Development, LLC will prepare all necessary documents for submittal at its cost. More information on the MIH program and the recent grant application can be found HERE. If awarded, the City will share the resources with the public through its normal channels.
Original source can be found here
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