Sponsor: ServiceNet, Inc.
Loan Approved: June 20, 2012
MHP committed $350,000 in financing to help ServiceNet, Inc. preserve the affordability of 17 SRO units for Department of Mental Health (DMH) clients in three buildings scattered throughout Northampton and Amherst.
TYPE: Preservation.
WHERE: 58 Cherry Street and 8-10 Finn Street, Northampton; 321 East Pleasant Street, Amherst.
WHAT: The preservation of 17 single-room occupancy (SRO) units for Department of Mental Health (DMH) clients in three scattered site buildings Northampton and Amherst.
AFFORDABILITY: All units affordable at 30 percent AMI.
MHP FINANCING: A $350,000 permanent first mortgage loan.