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New Hope CDC reports financing options for Cottonwood repairs and files 9% tax-credit application for 641 Fifth Street
Summary
The New Hope Community Development Corporation on July 16 reported it is seeking construction-financing options for immediate Cottonwood repairs and submitted a 9% low-income housing tax-credit application for a 37-unit project at 641 Fifth Street.
The New Hope Community Development Corporation held a brief meeting on July 16 in which the executive director reported on two development matters: short-term financing and repairs at the Cottonwood property, and a tax-credit application for a West Sacramento housing project at 641 Fifth Street.
The executive director said New Hope’s request for matching funds to fix Cottonwood was unsuccessful; the organization is meeting with First Northern Bank to explore construction-financing…
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