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Senior Apartment Building – LIHTC and FHA Application

The West Virginia property owner successfully closed their Tax Credit application in the fall of 2020 and secured a fully amortized loan via FHA-insured financing. As a LIHTC and FHA expert, Partner was engaged to complete due diligence related to a West Virginia State Low-Income Housing Tax Credit (LIHTC) Application and an FHA-Insured Mortgage Application. The subject property is comprised of 82 dwelling units situated within a mid-rise, five-story senior apartment building. The provided scopes included services such as a Property Condition Assessment, and Capital Needs Assessment (CNA) with e-Tool, and a Phase I ESA.

Additional site-related activities included intrusive analysis of the existing structure/façade and MEP (HVAC, electrical, and plumbing) systems. A Phase II ESA was completed in addition to Industrial Hygiene services for Radon and Asbestos Containing Materials (ACM), i.e., sampling and Operations and Maintenance (O&M) plans.

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