7/25/08
Four Lighten-Gale clients received tax credit allocations from the Illinois Housing Development Authority (IHDA) for their 2009 Round I tax credit round. Lighten-Gale Group assisted with the underwriting and submission of all four applications. The successful applicants are:

• A joint venture of Nehemiah Expansion and Windsor Homes received an allocation for the Nehemiah Homes II project. This will be a 30-unit single family home new construction project serving families in Springfield, Illinois. Construction is slated to begin in the fourth quarter of 2009.
• A joint venture of the Montgomery County Housing Authority and Windsor Homes received an allocation of tax credits for the Golden Oaks development. This project includes the tear-down and replacement of 32 public housing units. The new construction townhomes will serve seniors in Hillsboro and Litchfield, Illinois. Construction is anticipated to begin in October 2009.
• Bluestem Housing Partners, a non-profit developer, received a tax credit allocation for the Cottage Apartments project. This 50-unit affordable development will serve seniors 55 years of age and older in Normal, Illinois. This is the first affordable senior housing development in the area. It is expected to begin construction in Winter 2009/Spring 2010.
• A Safe Place received both a tax credit allocation and loan commitment for the A Safe Place II project. The project is a 20-unit permanent supportive housing development for female survivors of domestic violence and their children in Zion.

Congratulations to all four and thanks to IHDA for recognizing the talents of these developers and supporting their projects.

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