The Iowa Finance Authority recently announced the winners of the 2017 Tax Credit Round. Twenty-five applications were received for funding with only eleven applicants awarded tax credits. Lightengale Group worked with clients to submit two applications and both are being awarded with 2017 IFA tax credits totaling over $1.25M!
Iceberg Development with the help of Lightengale Group submitted Alice Place at Boone was awarded $750, here 484. Alice Place at Boone, medicine is a 50-unit senior housing development in Boone, ampoule Iowa. The development is bringing much needed senior housing to the City of Boone as evidence by the support of both city officials and staff through local contributions to the development. Alice Place is located on the southern part of the city and is in walking to distance to a variety of amenities for the future residents to enjoy.
LGG assisted Full Circle Communities in its Fifteenth Street Apartments submission that landed $504,179 in tax credits. The Fifteenth Street Apartments development is an adaptive reuse effort that will result in 36-units of affordable housing and will contain twenty-one 1-bedroom and fifteen 2-bedroom units in Dubuque, Iowa. The project will serve persons with a disability and veterans. The area is rich in amenities, services, and recreation – a perfect fit for an apartment community which is geared towards keeping the tenants engaged and connected to services in an accessible area.
Lightengale Group is excited to move both projects toward closing!
About Lightengale Group
Lightengale Group (LGG) is an affordable housing real estate financial advisory firm offering services to experienced and non-experienced developers nationally. LGG provides strategic & financial planning for developers by tracking evolving government regulations and funding requirements. With over 75 years of combined experience and more than 4,000 units completed, LGG is the industry’s preferred advisory leader.