Project Information

Project Name

Motel Redevelopment Program #3

City/Town Name

Yarmouth

Project ID

43157

Town ID

351

Description

Subsidize the acquisition and construction costs associated with the redevelopment of one or more motels into affordable rental units on Route 28.

Status

Project complete

Approval Date

05-07-2016

Project Category

Open Space

Housing

Recreation

Historic

Project Details

Housing Units

New

40

Supported

0

Total

40

Acres

Open Space

0

Housing

0

Recreation

0

Historic

0

Mixed Use

Uncategorized Acres

0

Total

0

CPA Funding

Open Space

$0

Housing

$1,000,000

Recreation

$0

Historic

$0

Uncategorized

$0

Total

$1,000,000

CPA Bonded Amount

$0

Bond Term

0

Transferred TO a Fund/Trust

Transferred FROM a Fund/Trust

$0

Other Funding Sources Leveraged

Other Town Funds

$0

Private Funds

$0

State Funds

$0

Federal Funds

$0

Other Misc Funds

$10,000,000

Other Funds Description

Estimated matching contribution towards project comprised of Federal low-income housing tax credits and private equity contributions.

Total Project Cost

$11,000,000

Total Funds Leveraged From Other Sources

$10,000,000