01/26/10

Lighten-Gale Group is pleased to announce the closing on construction financing for the Berkshires, a 24-unit affordable townhome development located in Taylorville, Illinois. The project is sponsored by Christian County Community Integrated Services (CCICS) in partnership with local general contractor Siegrist Builders, Inc. Siegrist is a family owned contractor located right in Taylorville. CCICS will also provide property management services and Shelby County Housing Authority will provide rent subsidy for residents in need. Lighten-Gale Group was the finance consultant for the project. This is the 3rd project on which CCICS and Pusateri Development/Lighten-Gale Group have worked together to bring affordable housing to Christian County, Illinois.

The project includes 24 two- and three-bedroom townhomes for rent to families. LGG's work on the project included assisting the sponsor in obtaining American Recovery and Reinvestment Act financing through the Illinois Housing Development Authority, a Federal Home Loan Bank grant, an Illinois Department of Commerce and Economic Opportunity energy grant, rental assistance, and bringing the project financing to a closing. The project is expeced to produce approximately 50 construction jobs for the local community.