Sponsor: Salem Harbor Community Development Corporation
Loan Approved: November 8, 1996
MHP committed over $1.3 million in permanent rental financing to help Salem Harbor Community Development Corporation refinance 62 rental units in Salem.
TYPE: Refinance.
WHAT: The refinancing of 62 rental unit apartments in Salem.
AFFORDABILITY: 12 units will be affordable at 50 percent of the area median income (AMI).
MHP FINANCING: A permanent first mortgage loan of $1,372,750.
RENTAL INFORMATION: Salem Harbor CDC, www.shcdc.org.