- The property received an allocation of Low Income Housing Tax Credits pursuant to Internal Revenue Code §42 and is subject to rent and income restrictions for a minimum of 30 years; Placed-in-Service (PIS) year: 1997; End of Initial Compliance Period: December 31, 2011; End of Extended Use Period: 2026.
- Mark-to-Market mortgage restructuring closed in December, 2006; subject to a Mark-to-Market Use Agreement through December, 2036, requiring that 40% of the units must be occupied by (and affordable to) Low Income (i.e. 60% of AMI) tenants.
- Assumable or prepayable HUD §223(a)(7) mortgage. 98% Project-Based Section 8 rent subsidy contract; 20-year, Mark-to-Market, HAP Contract renewal in 2006. Originally developed utilizing HUD §221(d)(4) financing; original HUD mortgage prepaid in 2006.
- Property amenities include community room, laundry facilities and playground.
- Unit features include individual entrance, patio/balcony, central air conditioning and walk-in closet.
- April, 2018 REAC Score: 93
- 80 Units
- HUD & Conventional
