LINC Housing Corporation

 
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The Palace
Development Team
•   Developer: LINC Housing Corporation
•   Architect: Killefer Flammang Architects
•   Contractor: Dreyfuss Construction
•   Construction Management: Castle & Gray International
•   Financial Consultant: California Housing Partnership Corporation
•   Future Property Manager: John Stewart Company
Financing of Project in 2010:
The majority of the financing for acquisition and construction will convert into permanent financing. Bridge financing was provided by U.S. Bank.
 
Permanent Sources Amount
Long Beach Housing Development Company Loan $2,983,000
Federal Home Loan Bank - Affordable Housing Program
(Mississippi Valley Life Insurance Co/U.S. Bank)
$250,000
Park & Recreation Fee Waiver $47,967
Private Foundations - Home Depot Foundation, The Ahmanson Foundation, National Trust Loan Fund, Long Beach Navy Memorial Heritage Association $220,000
Limited Partner Equity $164,953
ARRA/TCAC Grant $2,553,505

Total Sources $6,219,425