Grant: $2,651,335 - Department of Housing and Urban Development - Sep. 24, 2009
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Award Description: In accordance with the requirements of the ARRA, the purpose is to assist the PHA in carrying our capital activities at our developments.
Project Description: The subject of this application is Rental Phase I of the Center Court HOPE VI project which had a mixed finance closing on 12/28/07 (HUD Project Number NY011012). This mixed finance project for the first redevelopment phase of the $20 million Center Court HOPE VI Revitalization project (HOPE VI Grant #NY06URD011I106, HUD project NY011011). Post closing issues have arisen that have delayed construction progress on the Cetner Court Rental Phase I project, and created a financing gap of $2,651,335 for which funds are requested under this NOFA. These issues are detailed in the Explanation of Gap Financing narative below. The overall HOPE VI redevelopment plan includes mixed income, rental and homeownership developed in mulitiple phases on the existing 134 unit Center Court site and adjacent sites donated by the City of Niagara Falls. The Center Court Rental Phase I project, located primarily on the City donated sites with a small portion located on the exisiting Center Court site (containing 2 buildings and 10 units). Prior to the Rental Phae I closing, HUD approved a partial disposition of the existing Center Court public housing site on 11/30/07 (DDA#0002890), and the balance of the existing public housing site will be disposed of and developed in subsequent phases.
Jobs Summary: n/a (Total jobs reported: 0)
Project Status: Less Than 50% Completed
This award's data was last updated on Sep. 24, 2009. Help expand these official descriptions using the wiki below.