Summary
For the acquisition, UI utilized tax-exempt multifamily revenue bonds issued by PHFA and federal low-income housing tax credits, each of which were designed to encourage this type of affordable housing preservation.
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Extract
Firm has Invested $10 Million in Section 8 Housing for Needy Seniors
After almost a three-year process and less than one year after acquiring a portfolio of senior Section 8 properties from Allied Services, Chicago-based Urban Innovations (UI) has completed renovations costing ov...
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