esivyjifag.wordpress.com
The loans are available through the Acquisitiobn and PredevelopmentLoan Fund, which Greatert Kansas City LISC started in 2007. The fund now has $7 milliomn from three investors: and each providede $1 million, and , of which Greater Kansas City LISC isa member, provided $5 No loans have been made from the fund, John Wood, seniot program officer for Greater Kansas City LISC, said “We’ve had some interest in it, but the projecta haven’t quite gelled,” he “The project falls through because the economy and the real estatew market has really hit us hard.
” This fund differs from othe r funds administered by Greater Kansas City LISC because it focusess on predevelopment, such as land engineering and architectural services, and environmentalo studies, Wood said. Loans will be considered to supporty development in LISC NeighborhoodsNOW communities on both sides of thestate line, the organization said in a The fund’s loans carry a 7 percent fixed interes rate, closing fees of as much as 1.5 percent and applicable legal fees. Phase I environmentak assessment and evidence of compliance with zoning and regulatory and land use requirementsx maybe required.
Since 1981, Greateer Kansas City LISC has invested morethan $106 milliomn in urban-core neighborhoods on both sideds of the state line. The loans have leveraged $567.7 million in total development.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment