Sponsor: Valley Community Development Corporation
Loan Approved: March 1, 2007
MHP committed $700,000 in first and second mortgage financing to rehabilitate four units and add four new affordable units in Northampton.
TYPE: New construction/preservation.
WHERE: 46-48 School Street, Northampton.
WHAT: The rehabilitation of four existing units and the new construction of four additional units.
AFFORDABILITY: All units affordable at 60 percent AMI.
MHP FINANCING: $100,000 in first-mortgage financing and $600,000 in deferred-payment second mortgage financing.
ADDITIONAL SUPPORT: MHP provided Valley CDC with a three-year capacity building grant to augment its ability to produce affordable housing.
RENTAL INFORMATION: Home City Housing, 413-785-5312.