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Printed In: The Advertiser
Printed On: 2018/06/21
Public Notice: Project: Bottle Art Lofts Applicant Name: Lafayette Bottle Art Lofts, LLC Project Address: 1506 Cameron St. Lafayette, LA 70501 Total Units: 40 Units Apartments  Units (35-One Bdrm and 5-Two Bdrm)] The project owner is proposing the historic rehabilitation of a 40-unit residential development including affordable housing that will include a leasing preference for artists. The development will include a community facility and supportive services which will be available for disabled, single parent households, or other special needs households. The applicant is applying for a reservation of 9% Low Income Housing Tax Credits and potentially other sources of funding from the Louisiana Housing Corporation. The total estimated development cost is approximately $15,030,000. The development will be funded with private financing and equity proceeds from the sale of LIHTCs and other financing as follows (Amounts are estimated): LIHTC Equity $ 9,200,000 Federal Historic Tax Credit Equity $ 1,830,000 Louisiana Historic Tax Credit Equity $ 2,000,000 Permanent 1st mortgage $ 500,000 Subordinate Loan $ 1,500,000 Total Sources of Funds $ 15,030,000
Public Notice ID: 24825179