via Freep.com
In addition to the $100 million in federal funds, Whitmer says she expects this money will generate an additional $380 million in private money invested toward affordable housing. The project is expected to create 1,600 jobs, according to Whitmer’s office.
The state will invest the $100 million into the Michigan Housing and Community Development Fund. Through this fund, the state can issue grants or loans for an array of projects aimed at increasing affordable housing across the state. That includes everything from rehabilitating existing buildings to helping people obtain money to provide a down payment on a home.