New Market Tax Credit
Applications – LDS
worked on three New Market Tax Credit Applications with Carlisle
Tax Credit Advisors that were submitted
on March 6, 2007 to the Community Development Financial Institutions
Fund of the United States Department of the Treasury. Each
of the three $150 million applications was unique due to the
nature of the applicant’s financing institution. They
included a local community bank with a multi-state footprint
that has a large presence in the go zone, a one state commercial
bank and a national equity investor that combines historic
and new market tax credits.
Affordable Assisted Living – LDS
was financial consultant to The Retreat, a $15 million, 100-unit
affordable, new construction, assisted living facility in
Hartford, CT. We assisted the team with its application to
participate in the State of Connecticut Assisted Living Demonstration
Project, which included a market study. We applied to FHLBB
for AHP funding and to the Connecticut Housing Finance Agency
for 4% low income tax credits and tax-exempt bond financing.
Affordable Assisted Living – LDS
was financial consultant to the Vermont Housing Finance Agency
in connection with the financing of the Converse Home expansion
from a rest home to 67 units of mixed-income assisted living
in Burlington, VT.
HUD 811 For Housing for Survivors of
Traumatic Brain Injury - LDS worked with Supportive
Living, Inc. on the closings for Warren House in Woburn,
MA and McLaughlin House in North Reading, MA. These facilities
provide housing and supportive services for adult survivors
of traumatic brain injury, 11 and 8 units respectively. Funding
included HIF II, HOME, HUD 811, and FHLBB AHP.
Financial Consultant – LDS worked with the Mount
Vernon Rest Home in Winchester MA on a conversion to assisted
living. LDS provided an operational analysis and staffing pro-forma
for a 17-unit assisted living facility, a supply and demand
analysis for a 17-unit assisted living facility including unit
sizing and income, and operating and staffing pro-forma’s
for a 30-unit assisted living facility.
Emerald Court, Tewksbury, MA – LDS
worked on this $33 million multi-phase active adult community
including for sale villas, apartments flats, clubhouse and
set aside for assisted living. Responsibilities included
working with the architect on the master plan, market feasibility,
building the project team, arranging financing, and assisting
the developer on permitting matters.
Project Director for Program Development
Services – LDS
led the project team and worked on a feasibility study including
a needs assessment, architectural review, program design, and
financial structuring for converting a 100-unit existing federally
funded senior housing rental apartment building into a low-income
assisted living facility in New Bedford, MA.
LDS worked on a 2005 Joint Community Development
Block Grant Application (CDF I) with the City
of Newburyport and the Town
of Georgetown totaling approximately $1 million
in program costs. The application was for four different projects,
including architectural access, home ownership rehabilitation,
first-time home buyer down payment and closing cost assistance
and services to a rapid response team for survivors of domestic
violence. In addition to the loan application, our work included
creating Community Development Strategies and EO418 Certifications
for each municipality.
LDS’s work on the 2006 Joint CDBG Application
resulted in an $850,000 award for housing rehabilitation funds
for the City of Newburyport and Towns
of Georgetown and Newbury from the Commonwealth of Massachusetts. LDS created a Community
Needs survey that was mailed to 1,000 households in Newburyport,
Newbury and Georgetown with an average response rate of 47%
per community. In addition, LDS created a customer satisfaction
survey for future use for recipients of the housing rehabilitation
funds. In addition to the loan application, LDS’s work
included creating Community Development Strategies and EO418
Certifications for each. |
