Missouri Code of State Regulations › Title 4 - Department of Economic Development › Division 170 - Missouri Housing Development Commission › Chapter 1 - General Organization › Section 4 CSR 170-1.200 - Organization and Activities

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the programs, funding,
				  and organization of the Missouri Housing Development Commission in order to
				  inform the public of what the commission is and what it does.
(1) The Missouri Housing Development
				Commission (commission) is an instrumentality of the state of Missouri which
				constitutes a body corporate and politic and was created by an act of the
				Missouri legislature in 1969 to increase the supply of decent, safe, and
				affordable housing for low- and moderate-income Missourians.
(2) The commission has a statutorily
				prescribed board. The board consists of ten (10) commissioners; four (4) of
				which are Missouri statewide elected officials (the governor, lieutenant
				governor, treasurer, and attorney general) and the remaining six (6)
				commissioners are gubernatorial appointees. Gubernatorial appointees are
				subject to the advice and consent of the Missouri senate. Appointed
				commissioners serve a four (4)-year term and can be reappointed. The appointed
				commissioners' terms are staggered in such a manner that in three (3) of every
				four (4) years there will be two (2) commissioner positions which are due for
				appointment or reappointment.
(3)
				The commission is independent, not controlled in whole or in part by any agency
				or instrumentality of the state of Missouri. The commission maintains Bylaws,
				Standards of Conduct, and corporate resolutions, all which may be amended from
				time-to-time by an act of the commission pursuant to section
				215.020(3),
				RSMo. The commission is contractually related to the Department of Economic
				Development (DED) pursuant to Appendix B(1), RSMo 2000. The commission and DED
				entered into this formal contractual agreement in 1982. In 1996, the commission
				and DED entered into a memorandum of understanding which details how the
				commission will perform services for DED relating to tax-exempt bond financed
				multi-family housing transactions.
(4) Administrative costs for the commission's
				staff and operations are paid entirely from fees charged to commission
				borrowers, earnings derived from investments and other fees and charges. The
				commission pays its employees directly and not from funds derived from the
				Missouri general fund. The commission receives no tax revenue or other payments
				from the state and its ability to carry on its programs depends upon the
				willingness of private investors to buy commission notes and bonds and upon the
				earnings of the commission's investment of fund balances. It should be noted
				that the commission does administer the Missouri Housing Trust Fund (MHTF) for
				the state of Missouri. The MHTF does receive a direct appropriation from the
				state of Missouri annually in direct correlation with a statutorily prescribed
				fee collected by the Missouri recorders of deeds on applicable recorded
				documents. The commission is entitled under statute to a two percent (2%) fee
				for administration of the MHTF, which may be amended from
				time-to-time.
(5) The commission
				shall receive service of process by the director or general counsel at the
				Kansas City office location.
(6)
				All Sunshine Law requests shall be made to the commission's custodian of
				records who shall be located in the commission's KC office. Individuals who
				contact the commission's KC office for the name and contact information of the
				currently designated commission custodian of records shall be provided the
				information upon request. The commission staff shall maintain a designated
				custodian of records as required under the Sunshine Law. The custodian of
				records shall be appointed by the director.
(7) The commission shall maintain a website
				which displays office locations and the name and contact information for the
				custodian of records.
(8) The
				commission has a corporate structure which includes the director who oversees
				five (5) divisions. The roles and responsibilities of the divisions are subject
				to the direction of the director. The five (5) divisions of the commission are
				as follows:
(A) Operations Division-The
				division which is responsible for the day-to-day general business operations of
				the commission;
(B) Finance
				Division-The division which is responsible for the commission's finance and
				accounting functions;
(C) Office of
				General Counsel-The division which is charged with oversight of all legal
				matters of the commission. The general counsel does from time-to-time engage
				outside counsel. The commission does maintain third-party bond
				counsel;
(D) Rental Production-The
				division charged with oversight of the production of rental housing for the
				commission; and
(E) Asset
				Management-The division charged with compliance monitoring and asset management
				of the commission's rental housing portfolio. Furthermore, this division is
				responsible for the administration of all rental housing related contracts the
				commission may enter into from time-to-time.