Churchill Stateside Group Closes over $39 million in Financing for the Preservation and Rehabilitation of an 11 property USDA Rural Development 515 Portfolio in Oklahoma
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4% Low Income Housing Tax Credit Equity, USDA RD 538 Debt, USDA RD 515 Debt, and Bond financing for 11 Multifamily Properties in Oklahoma
The rehabilitation will provide the existing tenants a more safe, comfortable and affordable place to call home. CLEARWATER, Fla. (PRWEB) January 21, 2021 Churchill Stateside Group, LLC (CSG), a real estate and renewable energy financial services company, is pleased to announce the closing of the financing for the preservation and rehabilitation of an 11-property USDA Rural Development 515 portfolio in Oklahoma. The portfolio consists of 261 family-oriented units. The units will be rehabilitated utilizing 4% Low Income Housing Tax Credit Equity, USDA Rural Development 538 long-term debt, transfer
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WASHINGTON, Jan. 19, 2021 /PRNewswire/ Fannie Mae (OTCQB: FNMA) announced today that since its return to the Low-Income Housing Tax Credit equity (LIHTC) market in 2018, it has provided $1.5 billion of equity investments to support the creation and preservation of 576 affordable properties. Fannie Mae s investments in 46 states and the District of Columbia are part of an ongoing commitment to affordable rental housing in underserved markets.
Fannie Mae investments have enabled the preservation and production of LIHTC properties with a focus on underserved populations (Native American and farmworker communities), underserved markets, supportive housing developments, and disaster impacted areas.
President-elect Joe Biden (Getty Images)
For decades, New York City has offered communities an enticing deal: Approve new housing and locals will get half of the affordable units.
But in 2014, the Obama administration warned the city that so-called “community preference” might be reinforcing segregation. The city balked, offering to tweak the policy but not to dump it. “Without any promise of local benefits,” wrote Vicki Been then head of the New York City’s main housing agency getting local buy-in for projects could be “extraordinarily difficult.” Federal housing officials felt community preference conflicted with an Obama administration rule requiring municipalities to show how they are combating exclusionary housing. But last summer the Trump administration repealed the Obama measure, Affirmatively Furthering Fair Housing, and the city’s policy remains unchanged.
President-elect Joe Biden (Getty Images)
For decades, New York City has offered communities an enticing deal: Approve new housing and locals will get half of the affordable units.
But in 2014, the Obama administration warned the city that so-called “community preference” might be reinforcing segregation. The city balked, offering to tweak the policy but not to dump it. “Without any promise of local benefits,” wrote Vicki Been then head of the New York City’s main housing agency getting local buy-in for projects could be “extraordinarily difficult.” Federal housing officials felt community preference conflicted with an Obama administration rule requiring municipalities to show how they are combating exclusionary housing. But last summer the Trump administration repealed the Obama measure, Affirmatively Furthering Fair Housing, and the city’s policy remains unchanged.