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Developments > Lyman School Apartments

Lyman School Apartments

Project at a Glance:
Development Type:
Rental,Senior Housing
MHIC Financing:
$3,654,673 in LIHTC financing
East Boston Community Development Co.
Number of Units:
Date Completed:

Lyman School Apartments’ financial structuring involves the prepayment of the existing HUD 202 Loan and replacing it with tax exempt bond debt, equity from the sale of 4% Low Income Housing Tax Credits, Federal Historic Tax Credits and State Historic Tax Credits and take back note from the current owner that will be paid from cash flow.