Sponsor: Groton Housing Authority
Loan Approved: July 12, 2006
MHP committed over $778,000 in financing to help the Groton Housing Authority preserve nine newly constructed units as affordable.
WHERE: 34, 36, 38 Sandy Pond Road, Groton.
WHAT: The preservation of nine newly constructed units in three townhouses as affordable.
AFFORDABILITY: All units are affordable below 60 percent AMI.
MHP FINANCING: A $507,237 permanent first mortgage and $270,896 deferred-payment second mortgage.
ADDITIONAL ASSISTANCE: MHP's Community Assistance team provided technical assistance to help the Groton Housing Authority negotiate the purchase price of the units from the private developer.
RENTAL INFORMATION: Groton Housing Authority, 978-448-3962