Housing Authority forms Convent Hill 202 Holdings entity, appoints initial directors to hold HUD Section 202 units
The board approved a resolution creating Convent Hill 202 Holdings Inc. to hold 35 HUD Section 202-financed units while loans remain outstanding, and appointed initial directors so the new entity can meet and close when HUD approvals are complete. Staff said Friends of Housing audit issues remain under HUD review.
The full story
The Housing Authority moved on Dec. 10 to create a new instrumentality—Convent Hill 202 Holdings Inc.—to hold a group of units financed under HUD’s Section 202 program while the loans remain outstanding, and it adopted a resolution to appoint the entity’s initial board of directors.
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