City Center Place - Section 42 LIHTC - Birmingham, AL

Senior Section 42 LIHTC Property sold in Birmingham, AL

In early October 2018, AHIB completed the sale of City Center Place Apartments, a senior designated, Section 42 LIHTC property in downtown Birmingham, Alabama.  The well-maintained property was originally constructed in 1998.  It was financed with a combination of Section 42 LIHTC funds and HOME Loans from the Alabama Housing Finance Agency (AHFA) and the City of Birmingham. The property operates under regulatory agreements for both the LIHTC funds and HOME funds.  The property’s non-profit board [...]

October 31, 2018 By Sell LIHTC Property, Sell Section 42 Property, Sell Subsidized Property, Sell Tax Credit Property Comments Off
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HUD 202 Restricted Sale - ICARE - Section 8 - HAP Contract - Westmont Illinois

HUD 202 Restricted Sale of a HAP Property in Suburban Chicago

On October 1st, AHIB completed the HUD 202 Restricted Sale of a HAP Property in Suburban Chicago.  The building, known as ICARE (Illinois Chinese American Residence for the Elderly), is located in Westmont, Illinois, and is comprised of 60 units of which 59 are covered by a project-based Section 8 contract.  Though the property had previously been refinanced, there is still a HUD 202 Use Agreement in place, restricting ownership to a non-profit organization and limiting allowable distributions. The property’s non-profit [...]

October 2, 2018 By Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property, Sell Subsidized Property, Uncategorized Comments Off
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