Framark Place Apartments was constructed with HFA subsidy funds in addition to $1.8 million in permanent financing from HFA. The 50-unit all affordable apartment complex for seniors is located in Ontario County.
HFA offers Second Mortgage "Subsidy Loans" to developers that receive construction or permanent financing from HFA.
Subsidy Loans are subordinate, low interest rate loans available to projects that require subsidies to maximize the number of affordable units and to reach lower income or special needs populations.
A Subsidy Loan may be used in conjunction with subsidies provided by other federal, state or local agencies.
Click here to obtain a term sheet with details of HFA's Subsidy Loans.
Last updated: 11/30/2009 2:59:39 PM