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Financing:
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Acquisition
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$825,000 loan from Century Housing Corporation.
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Equity
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Low-Income Housing Tax Credit: $3,916,484
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Historic Rehab Tax Credit: $847,516
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Debt
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Mortgage: $750,000 (Washington Mutual Bank)
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City HOME funds for two loans of $494,000 and $845,000
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Industry Funds Loan (Los Angeles County only): $670,000
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FHLB AHP loan: $218,000
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Other
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This project benefited in the early stages by two pre-development
loans and a deferred development fee prior to securing a $1 million
construction loan from Washington Mutual Bank.
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Total Cost of Project: $7,741,000
Number of Housing Units Created: 50 units for low-income seniors
Date of Original Construction: 1929
Project Completed: June 2001
Project sponsor/developer(s):
LINC Housing Corporation
110 Pine Avenue, #525
Long Beach, CA 90802
562/435-2124
Vista Communities, Inc.
19800 MacArthur Blvd., Suite 750
Irvine, CA 92612
949/474-1345
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