Sponsor: Neighborworks Southern Massachusetts
Loan Approved: September 16, 2003
MHP committed $626,050 in financing to help Neighborworks Southern Massachusetts preserve seven units of affordable rental housing in Weymouth.
TYPE: Preservation
WHERE: 536R Bridge Street and 36 Leslie Avenue, Weymouth.
WHAT: The preservation of two properties -- one will act as a group home for six Department of Mental Health (DMH) clients and the other will remain a single-family home.
AFFORDABILITY: All affordable at 60 percent AMI.
MHP FINANCING: A permanent first mortgage of $218,000 and a $408,050 deferred-payment second mortgage.