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Council votes to draft letter supporting Oakwood Village 2 affordable housing tax-credit application
Summary
After a presentation by Robert Bender of the Provident Companies, Napoleon City Council voted to draft a letter of support for Oakwood Village 2, a proposed 66-unit affordable housing development that seeks 9% low-income housing tax credits and USDA financing.
Robert Bender, CEO of the Provident Companies, told the Napoleon City Council that his firm is seeking state tax-credit support for Oakwood Village 2, a proposed 66-unit affordable housing development intended to add 3‑ and 4‑bedroom units for working families. "If we are fortunate enough to be awarded, we hope to start by the end of the year," Bender said during his presentation.
Bender described the planned financing mix as centered on the 9% Low-Income Housing Tax Credit program and a USDA loan product. He said the project…
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