The Midlands Housing Trust Fund (MHTF) loans money to restore or create affordable housing in underserved communities. These loans provide quality housing for working families, senior citizens, and disabled adults within their financial means. Midlands Housing Trust Fund lending activity also contributes $4.8 million annually to the overall regional economy by improving neighborhoods, stimulating purchasing, creating jobs, and providing a net gain in state tax revenue. As a nonprofit, community-based organization, the Midlands Housing Trust Fund offers special incentives to investors and donors. Contributions to the MHTF are eligible for a 33-50% South Carolina Community Economic Development tax credit against any SC state tax liability. Banks receive Community Reinvestment Act (CRA) credit for their support of the MHTF. Since 2011, the MHTF has provided over $3.2 million in funding that leveraged more than $40 million in financing from other public and private sources to create 400 units of affordable housing for households at or below 80% of area median income (approximately $57,000 for a family of four). See how the Trust is making an impact in our community in the last year:
• $660,000 in total financing
• Leveraged $3.7 million in funding from other public and private sources
• Leverage ratio approximately 1:40
• Created 45 new units of affordable housing (as of August 2015)
• Total annual economic impact: $4.8 million  
• 25 jobs and $800,000 in labor income for Midlands residents in the past 12 months

Projects

Since 2012 the Midlands Housing Trust Fund has provided more than $1.4 million on affordable housing financing that leveraged over $36 million in funding from other public and private sources and created or preserved 361 housing units to serve more than 800 individuals.