Sponsor: HAP, Inc.
Loan Approved: July 16, 1993
MHP committed $305,000 in permanent rental financing to help HAP, Inc. construct 27 new rental units in Springfield.
TYPE: New.
WHAT: The new construction of 27 rental units.
AFFORDABILITY: 23 units will be affordable to residents earning at or below 60 percent of the area median income (AMI).
MHP FINANCING: A permanent first mortgage loan of $305,000.
REFINANCE: This loan was refinanced in 2017 with a $650,000 direct bond loan.