The Gulf Coast Renaissance Corporation offers an affordable housing development fund. The Mississippi Gulf Coast Development Fund (MGCDF) was created to spur the development of workforce housing in the region by providing gap financing and direct lending to nonprofit and mission-driven developers who build owner-occupied and rental unites for families at or below 120% of the Area Median Income (AMI). (For an updated AMI chart, click here.)
The Guild, administered by Mississippi State University's Gulf Coast Community Design Studio, was created to foster the redevelopment of communities as environmentally, economically and socially sustainable through responsible land use practices with a particular focus on mixed-use and mixed-income communities. Loans are available for acquisition and construction. Click here to view the term sheets.
MS Gulf Coast Development Fund Loan Application (workable excel spreadsheet).
For information and to send completed applications, contact Stephen O'Mara, Senior Lender, at somara@msgcrc.com.
