Grant: $11,933,403 - Department of Housing and Urban Development - Jun. 24, 2009
0% voted satisfied - 100% voted not satisfied - 1 vote(s) cast
Award Description: Tax Credit Assistance Program funding in the amount of $11,933,403 will be used to finance developments in need of gap financing as a result of the decline in tax credit pricing. It is anticipated that the funding will provide resources to at least four development projects.
Project Description: Tax Credit Assistance Program funding will be provided to developers of housing tax credit developments in which credit pricing is inadequate to support the total development cost. As of September 30, 2009 four projects have received a reservation of TCAP funding and are moving to closing on the financing. Projects are located in Newport, North Kingstown and Providence and involve the construction and rehabilitation of 259 apartments.
Jobs Summary: Not applicable (Total jobs reported: 0)
Project Status: Less Than 50% Completed
This award's data was last updated on Jun. 24, 2009. Help expand these official descriptions using the wiki below.