* Assignments by the financing entity of the
financed entity's loan to an intermediate entity (see Aiken Industries).
One way to ensure that the program is adequately
financed is to provided the maximum conceivable amount of debt or debt-service reduction.
announced last week that its New York office has
financed $16.2 million for projects around the nation.
The third Liberty Bonds development
financed by Fleet, the Liberty Bonds Program is an $8 billion tax-exempt private activity bond program created for rebuilding portions of New York City affected by the September 11 attacks.
announced its Connecticut office has
financed a 47 unit multifamily project in New Haven, Conn.
The loan with a ten-year term and thirty-year amortization schedule,
financed the acquisition of the property by the borrower, St.
* The lender, has not already
financed more than 25 percent of the units in the building;
The banks
financed the acquisition and, in return, benefited from writing home mortgages for the buyers of the developed property.
The vital function of non-traditional lenders has continued to grow, as is evidenced with our success in completing more than $160 million
financed in the past eight years.
Carl McCall, Yonkers city officials, representatives of The Community Preservation Corporation (CPC) and local community activists and residents were on hand recently to celebrate the successful partnership between CPC and the New York State Common Retirement Fund (CRF) that has
financed affordable housing in Yonkers.
J-51 can significantly reduce real estate taxes on properties and may help ensure that the rental units
financed remain affordable to moderate-income renters.
Under the scenario set up for the Renaissance project, however, debt coverage is 1.0, and every dollar of lease payments is counted towards the amount that could be
financed.
