Closing out the year with client good news

The last few months have been exciting for a handful of Travois’ housing clients with recent Low Income Housing Tax Credit (LIHTC) awards, Affordable Housing Program (AHP) grants and project closings.

Nearly $2 million in AHP grants awarded to five projects

Four Travois clients were recently awarded Affordable Housing Program (AHP) funds from the Federal Home Loan Bank of Chicago and the Federal Home Loan Bank of Seattle for five projects. The awards total is a combined $1.86 million.

With these awards, Travois has raised more than $22 million in AHP funds through 57 successful applications, assisting tribes with grant funding for new or rehabilitated homes. Each client is using architectural designs from our Travois Design & Construction Services team.

The winning projects are:

  1. The Bad River Housing Authority was awarded $432,000 from the Federal Home Loan Bank (FHLB) Chicago for its second Low Income Housing Tax Credit (LIHTC) project, Bad River Homes II.
  2. The Sokaogon Chippewa Housing Authority received $432,000 of AHP subsidy from the FHLB Chicago for project Sokaogon Homes II.
  3. Additionally, Sokaogon was awarded $414,000 from the FHLB Chicago for its Sokaogon Supportive Residences project.
  4. The Chippewa Cree Housing Authority was awarded $280,886 from the FHLB Seattle to acquire and rehabilitate 33 single-family rental homes for its first LIHTC project.
  5. Warm Springs Housing Authority received $305,966 from the FHLB Seattle for the construction of 35 new single-family rental homes for low-income households on the Warm Springs Reservation.

Read more details about each project here.

 

Three clients recently closed with an investor and are ready for construction

  1. Chippewa Cree Housing Authority’s first LIHTC project closed with an investor in late November and started construction Dec. 1.
  2. The Pascua Yaqui Tribe’s fourth LIHTC project recently closed with an investor. The project will build four new five-plex buildings for tribal elders and will be adjacent to the tribe’s existing senior center.
  3. The Warm Springs Housing Authority was the first tribe to receive a LIHTC award in the state of Oregon in 20 years and recently closed with an investor.

 

Eastern Shoshone Housing Authority won its first LIHTC award

Eastern Shoshone Housing Authority (ESHA) received an award of $270,127 in LIHTCs from the Wyoming Community Development Authority (WCDA) last month.

With the tax credit equity generated from these LIHTCs, the housing authority will revitalize Tigee Village, an existing subdivision in Fort Washakie that was originally constructed in the late 1960s.

Twenty housing units will be replaced with 20 new, energy-efficient units and a community facility that will serve households at or below 40 percent of Area Median Income (AMI).

This is ESHA’s first award of LIHTCs.

“We are very excited to get this project going to not only provide housing but hope for the community,” said Brian Mann, ESHA’s assistant executive director, “This is just phase one in ESHA’s plans for the future.”

Read more here.

 

About Travois
Travois is a mission-driven consulting firm focused exclusively on promoting housing and economic development for American Indian, Alaska Native and Native Hawaiian communities. Since 1995, Travois has brought investor equity to more than 170 projects through the Low Income Housing Tax Credit program and New Markets Tax Credit program, making an impact of more than $1 billion across Indian Country. These private investor funds have helped build or rehabilitate more than 4,300 homes and have helped finance critical economic development projects, including infrastructure, health care, community centers, education facilities and other businesses.

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