Wednesday, March 16, 2011

Northeast Denver Housing Center receives $25,000 loan

The Department of Local Affairs has announced that $25,000.00 in HOME CHDO Reserve (aka CHDO Set Aside) (HMCR) funds has been awarded to Denver County for the following project: Northeast Denver Housing Center, Inc (NDHC) is awarded a CHDO predevelopment loan for $25,000. As the project sponsor, NDHC will act as the fiscal agent to pass through CHDO predevelopment loan funds to Denver Education Senior Citizens, Inc (DESCI), a nonprofit housing corporation that owns and manages a 93 unit senior property in Denver. DESCI will use the CHDO predevelopment loan funds to conduct a market analysis, perform an architectural and engineering assessment and hire a consultant to design a strategy for financing the rehabilitation of the 52 year-old building.

Note: This blog entry previously stated incorrectly that NDHC received a $50,000 loan. We regret the error.