Notre Dame
Moderators: Coyote, nebugeater, Brad, Omaha Cowboy, BRoss
Notre Dame
Word in the hood is that Notre Dame Convent is converting the old school into general public apartments in order to help pay for Seven Oaks.
Do you have any information for those of us that have no clue that you are talking about?
Most importantly locations?
Most importantly locations?
Omaha Skyline Photos, Omaha Aerial Photos, and More.
Website: www.bradwilliamsphotography.com
Facebook: www.facebook.com/bradwilliamsphotography
Twitter: www.twitter.com/bradwphoto
Instagram: www.instagram.com/bradwilliamsphotography
YouTube: www.youtube.com/@bradwilliamsphoto
-
- Home Owners Association
- Posts: 143
- Joined: Tue Apr 24, 2007 5:59 pm
The planning of the project has been in the works for some time now. Â They have been allocated Low Income Housing Tax Credits and planning on applying for Historic Tax Credits. Â Because of the economy, the LIHTC are not worth much and very few people want to buy them. Â The Historic Tax Credits are still strong. Â Because of the low value of the LIHTC the developer applying for TCAP or Section 1602 funding but NIFA did not receive the allocation from NIFA. Â Right now the project is on hold - unless you-all know something that I do not.
-
- Home Owners Association
- Posts: 143
- Joined: Tue Apr 24, 2007 5:59 pm
I am really terrible at typing quickly...
I meant to type -
Because of the low value of the LIHTC, the developer applied for TCAP or Section 1602 funding ( I can't remember which one) but NIFA did not allocate any of those funds to the project. Â TCAP and Section 1602 are HUD funding programs (I think partly associated with ARRA). Â Basically HUD is buying back already allocated and unused credits and giving state allocation agencies (like NIFA) cash value for those credits in the form of grants. Â LIHTC applicants can then use this funding to offset the low value of the LIHTC (gap financing).
I meant to type -
Because of the low value of the LIHTC, the developer applied for TCAP or Section 1602 funding ( I can't remember which one) but NIFA did not allocate any of those funds to the project. Â TCAP and Section 1602 are HUD funding programs (I think partly associated with ARRA). Â Basically HUD is buying back already allocated and unused credits and giving state allocation agencies (like NIFA) cash value for those credits in the form of grants. Â LIHTC applicants can then use this funding to offset the low value of the LIHTC (gap financing).