Programs

  • Apartment Rehabilitation Project

    DURING 2023-24 WTHF SERVED AS GENERAL CONTRACTOR FOR THE REHABILITATION OF THE SOUTH PLAINS APARTMENTS AND THE HOMESTEAD APARTMENTS (NOW KNOWN AS SOUTHSTEAD APARTMENTS). THE DEVELOPMENT IS COMPRISED OF 244 APARTMENT UNITS BUILT IN THE MID-1970S. SOURCES OF FUNDING FOR THE ACQUISITION AND REHAB OF THE APARTMENTS INCLUDED CONVENTIONAL FINANCING, AS WELL AS PROCEEDS FROM THE SALE OF TAX-EXEMPT MORTGAGE REVENUE BONDS AND LOW INCOME HOUSING TAX CREDITS. BONDS AND TAX CREDITS REQUIRE THAT A MINIMUM OF 175 UNITS BE RENTED TO TENANTS WITH INCOMES AT OR BELOW 30% OF LUBBOCK'S AREA MEDIAN INCOME ("AMI"), AND A MAXIMUM OF 69 UNITS BE RENTED TO TENANTS WITH INCOMES AT OR BELOW 60% AMI.
    Geographies
    Not indicated
    Dates
    Apr 1, 2023 – Mar 31, 2024
    Source
    990
    No causes provided
    No populations provided
    –
    $75