Interest expressed in rental rehab program 2012.02.08

Written by David Green.

City officials learned Friday that downtown property owners have considerable interest in taking advantage of state funding for the rehabilitation of rental units.

More than 15 people met at city hall with representatives from the Michigan State Housing Development Authority (MSHDA) to hear details about the program.

The MSHDA representatives toured two locations—the proposed apartments above the new Subway restaurant and the adjacent property, and the second floor of the old Main Street depot, now owned by the State Line Gem and Mineral Society.

City administrator clerk Renée Schroeder expects that at least five locations should be eligible for funding, and possibly two others.

Property owners have until Feb. 29 to submit a letter of interest. Construction drawings are also needed, along with  testing for asbestos and lead-based paint.

Each unit is eligible for funding up to $35,000 in the form of a five-year zero percent interest, forgivable loan. The property owner must invest at least 25 percent of the construction cost and agree to rent at least 51 percent of the units to tenants that meet certain income requirements.

When letters of intent are received, the city will total the amount requested and apply for a grant on behalf of the property owners.

  • Front.hose Testing
    HOSE safety—The FireCatt hose testing company from Troy put Morenci Fire Department hose to the test Monday morning when Mill Street was closed to traffic. The company also checks nozzles and ladders for wear in an effort to keep fire fighters safe while on calls.
  • Front.splash
    Water Fun—Carter Seitz and Colson Walter take a fast trip along a plastic sliding strip while water from a sprinkler provides the lubrication. The boys took a break from tie-dyeing last week at Morenci’s Summer Recreation Program to cool off in the water.
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    BIKE-A-THON—Children in Morenci’s Summer Recreation Program brought their bikes last Tuesday to participate in a bike-a-thon. Riders await the start of the event at the elementary school before being led on a course through town by organizer Leonie Leahy.
  • Front.drum
    on your mark, get set, drum!—Drew Joughin (black shirt), Maddox Joughin and Kaleea Braun took the front row last week when Angela Rettle and assistants led the Stair District Library Summer Reading Program kids in a session of cardio drumming. The sports and healthy living theme continued yesterday with a Mini Jamboree at Lake Hudson State Park arranged by the Michigan Department of Natural Resources. Next week’s program features the Flying Aces Frisbee show.
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