PUBLIC NOTICE Edgewood Square Apartments
Edgewood Square Apartments, L.P. is submitting an application to the Louisiana Housing Finance Agency (LHFA) to compete for 9% tax credits provided by the LHFA. The development is Edgewood Square Apartments located at 713 McDonald Avenue, Ruston, Louisiana 71270 and includes 60 family units. The application is for the substantial rehabilitation of an existing apartment complex. The proposed supportive services may include, but not limited to, a mentoring program, after-school tutoring program, summer enrichment program and “Fun Day”. The development will be for incomes that do not exceed 60% of the Area Median Income and with a total development cost estimated to be $7.6 Million. Estimated funding sources are $5,514,648 Million in tax credit equity, $100 GP Contribution, $713,316 Thousand in Permanent Senior Loan, $830 Thousand in Subordinate Loan (RD Direct Loan) and, $492,901 Thousand in HOME funds.
3td: July 27, 28 & 29, 2011