29 of 29 posts
Posted March 30, 2011
Coleman Talley represented the developer in a closing of permanent financing on a senior housing project
Coleman Talley represented the developer in a closing of permanent financing on a senior housing project in Monroeville, Alabama with the Alabama Housing Finance Authority. The financing utilized funds under the HOME Investment Partnership program, which is a federally funded program providing annual allocations that may be used by developers to buy land and build affordable housing. Construction financing was previously provided by Regions Bank. The project also utilizes the federal low income housing tax credit and an Affordable Housing Program (AHP) loan through the FHLBank Atlanta, a Federal home loan bank.
The firm regularly closes affordable housing projects utilizing the federal low income housing tax credit throughout the Southeast. Tom Kurrie and Russ Henry represented the client on this transaction.
