Lightengale Group is excited to announce its clients Over the Rainbow Association (OTR) and Interfaith Housing Development Corporation (IHDC) are both Vision Award Winners! The Urban Land Institute held their 5th Annual Vision Award Ceremony on June 1, 2016 to award outstanding projects throughout the Chicagoland area. The Urban Land Institute chose Over the Rainbow Association’s development Southwick Apartments located […]
The Burton Foundation received the 2016 Gale Cincotta Award from the Illinois Housing Development Authority (IHDA) for Water’s Edge of South Elgin, prostate a successful integration of supportive and independent housing in South Elgin’s growing downtown. Of the 50 units, half are currently leased by residents with developmental disabilities, and the balance are occupied by […]
Illinois Association of Community Action Agencies (IACAA) Illinois Association of Community Action Agencies is holding their 2016 Resilient &Resolute Conference from May 2-4, sick 2016 in Springfield, story Illinois. The conference trains and prepares local Action Agencies and this year focuses on the problems involving affordable housing in the past year and figuring out ways […]
Diamond Senior Apartments of Oswego, sildenafil Phase II Grand Opening On Monday, November 16, 2015, 3 Diamond Development celebrated the Grand Opening of Diamond Senior Apartments of Oswego Phase II. There was a great turnout from all parties involved in the project. Bank of America (investor and construction lender), Featherfist (Non-profit partner), as well as […]
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Full Circle Communities Breaks Ground on The Arbor at Lindale Trail, an Affordable Senior Housing Project in Marion, Iowa that Marks the Developer’s First Foray in the Hawkeye State The Arbor at Lindale Trail is for mixed income seniors and the new three-story building will include 70 units of housing, community areas, and additional on-site […]
Eight Local Projects from Lightengale Group Clients Secure $5.4M of Just-Announced Federal Home Loan Bank of Chicago Affordable Housing Program Grants Projects receiving Affordable Housing Program (AHP) awards include Wisdom Village of Oak Street, Natalie Salmon House, Prairie Meadows Phase II, LaGrange PSH, Diamond Senior Apartments of Princeton, Hall Street Lofts, Fox Run Villas, and […]
Developers A Safe Haven Foundation and West Suburban Housing Development Corporation team up to deliver new project that fills a critical affordable housing need in a community that is undergoing dramatic improvements. Lightengale Group provided assistance to the developers from the early stages of the project through closing. This most recent Veterans Day was a […]
Syndicators/investors typically require a repurchase obligation from the sponsor as a condition of making equity investments in LIHTC projects. This is the most potentially costly but least likely guarantee. So, information pills what does that mean? Repurchase Obligation Essentially, unhealthy here’s what you need to know: If the developer does not meet major deadlines for […]
