Rep. Continues String of Wins on Building Up Homeownership, Attainable Housing
LANSING, Mich.—Today, the Michigan House of Representatives voted overwhelmingly to pass HB 4951 – part of a bipartisan package of bills that would support and reform the Michigan State Housing Development Authority (MSHDA), making homeownership more attainable in Michigan.
The bill – sponsored by state Rep. Mari Manoogian (D-Birmingham) – would raise the current fixed sales price limit on MSHDA Homeownership loans to a formula of 90% of the average area purchase price of a particular housing unit. It would also increase the amount homebuyers can get from a MSHDA loan for unexpected cost increases during construction or for improvements to a property for disabled individuals’ accessibility from $3500 to $10,000.
“Tackling the crisis of unaffordable housing in this state, helping stem brain drain and keeping our talent in Michigan is a top priority of mine, but the reality is that young folks and new families across our state are struggling to afford to put down roots and raise children in the communities that they’ve grown up in,” said Rep. Manoogian. “By allowing MSHDA to use the average area purchase price of a house for its loans, we can widen the net of people for whom these loans are useful, and allow more young people, new families, and potentially new Michiganders to buy homes and live in the communities we love.”
Rep. Mari Manoogian represents the communities of Birmingham, Bloomfield Hills, Bloomfield Township, and the eastern portion of West Bloomfield Township. In addition to serving as Deputy Whip for the Michigan House Democratic Caucus, she is also the Minority Vice Chair of the House Committee on Energy and is a member of the House Committee on Commerce and Tourism.