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TOTAL PROJECTED COSTS: $1,937,250.00 - page 10 / 15

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INDIANA HOUSING FINANCE AUTHORITY RENTAL HOUSING TAX CREDIT (RHTC) PROGRAM PROPOSED DEVELOPMENT SUMMARY

2003A-C Round

PROJECT NAME:

Gas City School Apartments

SITE LOCATION:

400 E. South A Street Gas City, IN 46933 Grant COUNTY

PROJECT TYPE:

R

APPLICANT/OWNER:

Gas City Historical Society Jerry Long 517 E. North D Street Gas City, IN 46933 (765) 674-1428

PRINCIPALS:

Subsidiary of Gas City Historical Society, CSC Real Estate Advisors, Inc

# OF UNITS AT EACH SET ASIDE:

60% of AMI: 50% of AMI: 40% of AMI: 30% of AMI:

6 10 3 0

Market Rate:

0

UNIT MIX

Efficiency:

0

One bedroom:

13

Two bedroom:

6

Three bedroom:

0

Four bedroom:

0

Total units:

19

TOTAL PROJECTED COSTS: $2,228,606.00

RHTCs REQUESTED:

$147,683.00

COST PER UNIT:

$94,434.00

RHTCs RECOMMENDED:

$145,586.00

HOME FUNDS REQUESTED: $120,000.00

HOME FUNDS RECOMMENDED:$93,300.00

TRUST FUNDS REQUESTED: $64,000.00

TRUST FUNDS RECOMMENDED:$64,000.00

APPLICANT NUMBER:

2003A-C-004

BIN:

IN-03-00800

HOME FUNDS AWARD #: HM-003-009

TRUST FUNDS AWARD#: TF-03-02

SET ASIDE:

Special Housing Needs -Elderly

COMMENTS: This development will rehabilitate the Gas City East Ward School, which was originally built in 1894, into housing for elderly residents.

R=Rehabilitation A/R=Acquisition/Rehabilitation NC=New Construction

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