[StBernard] A Low-Income Housing Battle Reveals Post-Katrina Tensions
Westley at da-parish.com
Sun Oct 4 10:44:28 EDT 2009
Along with a little over $1 million in tax credits per development,
Providence will also receive a CDBG MI Gap Financing Amount of $4.9 MILLION
for each of the four developments (NEARLY $20 MILLION).
Average Monthly Rent income per Providence's LHFA application is just over
$50,000 per month per development. A very poor scanned copy of application
at link below. Not certain if the Louisiana LLC's have registered with the
Secty of State yet; revealing who would receive the profits.
Rental Income per LHFA application based on
16 - 1 Bedroom Units (750 sq ft) at FMR $836 and TER $588;
32- 2 Bedroom Units (950 sq ft) at FMR $978 and TER $706.50;
24 - 3 Bedroom Units (1,145 sq ft) at FMR $1,256 and TER $816
More information about the StBernard