Check the box…

February 25, 2010 by Melodie
Filed under: Michigan Development News 

Michigan‘s Housing and Community Development Fund:
What Is It? Why Does It Matter?

Michigan‘s Housing and Community Development Fund (MHCDF) is a statewide source of money for housing and community development activities. In 2008, the fund received a $2.2 million allocation from the state legislature. This money was distributed as grants to 18 organizations. The grants leveraged an amazing $11 in public and private funds for every MHCDF dollar spent.

MHCDF serves two purposes. On its face, the Fund provides needed money to organizations working to improve our communities with affordable housing, supportive housing, and economic development. More subtly, the fund’s existence is a symbol of Michigan’s commitment to healthy, vibrant communities and housing for all.

Due to the state budget crisis, MHCDF did not receive any state money in 2009. However, a check-off box on the state income tax return (line 24) brought in $50,000 for the 2008 tax year, and we hope to double that amount for the 2009 tax year. One reason is so the check-off will remain on the tax forms. More importantly, though, the check-off campaign is an opportunity to raise awareness about MHCDF and community development in general.

We need your help!
Please check the box
and spread the word!

By spreading the word about the Fund, you’re not just helping to raise money for yourself and your partners – you’re also raising awareness and hope. Please see below to find out what you can do to help this cause.

 What You Can Do ?

First of all, please visit www.livinginmichigan.org. This is the website and blog for the Living in Michigan Coalition, the group that exists to promote MHCDF. This site has a How Can I Help? page, which offers the following suggestions for spreading the word about the checkoff and Michigan’s Housing and Community Development Fund.

  • Mention MHCDF on your website or blog. For inspiring statistics on the last round of projects, visit the “Past Projects” page.
  • Put a link to www.livinginmichigan.org in your e-mail signature, reminding your contacts to “check the box.”
  • Become a fan of the MHCDF page on Facebook (and/or add it to your page’s favorites), and RSVP “attending” to the Facebook event for the 2009 tax year check-off.
  • Tweet about the fund or the checkoff. Mention @LivingInMich
  • Ask your tax preparer to explain the check-off to his or her clients. Better yet, leave literature!
  • Hang a “check the box” poster in your workplace (contact Michigan Interfaith Trust Fund to get one).
  • Write a letter to the editor of your local newspaper, encouraging your community residents to contribute to the fund.
  • Ask your local or state government officials to tell constituents about the fund and the check-off.

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    Throughout the Trust Fund’s 25 year history, our loan programs have had the following impact on the communities we serve.

    (as of March 31, 2010)

    • 2,123 housing units assisted
    • 273 loans for affordable housing
    • $27.3 million loaned for affordable housing
    • $80.2 million leveraged from other sources for affordable housing
    • 412 jobs created through economic development lending
    • 125+ (minimum) childcare slots created by economic development lending
    • 134,735 square feet developed or rehabbed
    • 60 loans for economic development
    • $3 million loaned for economic development
    • $17.4 million leveraged from other sources for economic development