Needham Housing Authority reports financing wins, HUD RAD conversion progress and relocation timeline
NHA and its development consultant told the committee they secured several financing commitments (predevelopment loan, MHP permanent loan commitment, mass development bond approval) and expect HUD RAD conversion commitment in early October; the team plans to issue 120-day relocation notices by Oct. 30.
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The Needham Housing Authority (NHA) development consultant (Frannie Wu) updated the committee on financing, HUD approvals and resident relocation plans. Frannie said NHA closed a $400,000 predevelopment loan from LISC, secured a permanent-loan commitment from Massachusetts Housing Partnership (MHP) and received mass development approval for up to $11.6 million in tax-exempt bonds. NHA also received a one-time $250,000 Hub Capital Fund safety and security grant and $379,000 in climate-ready housing funds for 2026, adding to earlier awards.
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