TREASURY - Michigan Higher Education Facilities Authority

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M.H.E.F.A - Michigan Higher Education Facilities Authority

The Michigan Higher Education Facilities Authority was created under Act 233 of 1964 and Act 295 of 1969 to issue bonds in order to make loans to private non-profit colleges and universities for various capital needs including: construction of new facilities, renovation of existing facilities, and equipment purchases.

Authority Mission Statement

The Michigan Higher Education Facilities Authority (MHEFA) exists to lower the cost of non-profit higher education by providing Michigan's private, non-profit educational institutions access to tax-exempt capital.

Eligible Projects

Includes the following facilities:
· Housing	· Laboratories
· Dining	· Classrooms
· Student Unions	· Athletic Centers
· Libraries	· Parking

Also Includes, Faculty and Administrative Offices, Research, Health Care, Maintenance, Storage and Utilities

Excludes facilities for the following:
· Sectarian Instruction
· Religious Worship
· Divinity/Religious Denomination Programs

Also excludes, books, fuel, supplies, or other items normally considered as a current operating expense or working capital

MHEFA Board Meetings

Next Meeting:

January 29, 2010

2:30 p.m.

Full Schedule

Location:

State Treasurers' Board Room
Austin Building, 1st Floor
430 W. Allegan
Lansing, Michigan

Driving Directions

MHEFA Members

Chair: Larry L. Whitworth	President Washtenaw Community College
Vice Chair: Harold Gardner	Senior VP & Assistant to the Chair DTE Energy Corporation
Members: William J. Cochran	Retired Business and Finance
James N. Goenner	Director Charter Schools Office Central Michigan University
Larry L. Leatherwood	Executive Consultant
Daniel J. Limer	Bradford Mortgage Corporation
Dr. Lewis N. Walker	President Lawrence Technological University
Amy D. Seetoo	President Amy Seetoo Properties, LLC
Lerrlyn Nelson	Metro Neighborhood Housing and Development

MHEFA Financing Program

The Authority's financing capability includes the following projects: new, remodeled, or renovated college buildings, land acquisition, and capital equipment and machinery. This financing can provide up to 100% of the cost of the project, including the construction and architectural costs, financing and legal fees, bond issue expenses, Authority fees, and any surveys or studies performed.

	MHEFA Credit Criteria
	MHEFA Fee Schedule
	MHEFA List of Bonds Issued

Michigan Higher Education Facilities Authority
Location: Austin Building, 1st Floor
(Formerly Treasury Building)
430 W. Allegan
Lansing, MI 48922
Mail: P.O. Box 15128
Lansing, MI 48901
Phone: (517) 335-0994 Fax: (517) 241-9509
www.michigan.gov/mhefa