Kansas Housing Resources Corporation Awards Funds to Russell, Great Bend
15 Kansas communities will receive a combined total of $4.9 million in MIH funds, $8.4 million in MIH-ARPA funds and $6.4 million in KHITC funds to develop affordable housing for moderate-income families in rural areas of the state.
The awards, made possible through the state of Kansas' Moderate Income Housing (MIH), MIH-American Rescue Plan Act (MIH-ARPA) and Kansas Housing Investor Tax Credit (KHITC) programs, provide resources to develop housing in rural communities.
Combined with the amount leveraged by each community to support the proposed initiatives, the awards represent a total investment of $141 million and a net gain of 544 affordable, quality housing units.
This round of awards will help with development of 16 projects, including 24 rental apartment units in Great Bend and 11 rental apartment units in Russell.
Russell Development, Inc. received $650,000 in Moderate Income Housing grant funds and $385,000 in Housing Investor Tax Credits for the Holland Hotel Apartments project.
The Kansas Housing Resources Corporation administers the state's housing development programs and oversees the competitive application process. More details about the MIH, MIH-ARPA and KHITC programs are available HERE.
(Information courtesy KHRC.)