{"id":10217,"date":"2017-05-25T13:36:14","date_gmt":"2017-05-25T13:36:14","guid":{"rendered":"http:\/\/www.impactseven.org\/?p=10217"},"modified":"2021-07-27T18:54:16","modified_gmt":"2021-07-27T18:54:16","slug":"garden-terrace-apartments-lihtc-award","status":"publish","type":"post","link":"https:\/\/www.impactseven.org\/garden-terrace-apartments-lihtc-award\/","title":{"rendered":"Garden Terrace Apartments Receive Critical Tax Credit Award"},"content":{"rendered":"<p>La Crosse&#8217;s Garden Terrace Apartments moves forward with a tax credit allocation<\/p>\n<p>A $683,000 Low Income Housing Tax Credit (LIHTC) allocation this month will jumpstart the Garden Terrace Apartments development in <a href=\"https:\/\/www.cityoflacrosse.org\/\">La Crosse<\/a>.<\/p>\n<blockquote><p>\u201cThe LIHTC award was one of the most important financial catalysts to get this project moving forward,\u201d says <a href=\"https:\/\/www.impactseven.org\/portfolio-items\/kristine-giornalista\/\">Kristine Giornalista<\/a>, Vice President of Real Estate Development for Impact Seven. \u201cAdditional financing applications are necessary, but with the backing of these key tax credits worth approximately $6.2 Million, those applications look much more promising.\u201d<\/p><\/blockquote>\n<p>The next steps include securing <a href=\"https:\/\/www.fhlbc.com\/ProductsandServices\/CommunityInvestmentsandAffordableHousingPrograms\/GrantPrograms\/Pages\/federal-home-loan-bank-chicago-community-investment-affordable-housing-ahp.aspx\">FHLB Affordable Housing Program<\/a> funding and <a href=\"http:\/\/neighborworks.org\/\">NeighborWorks America<\/a> funds, among others. The City of La Crosse has already committed $550,000 in Community Development Block Grant funding and is donating 1.2 acres of land for the project. The Housing Authority of the City of La Crosse has also committed project-based rental assistance for 15 units.<\/p>\n<h3><strong>ABOUT THE\u00a0GARDEN TERRACE APARTMENTS<\/strong><\/h3>\n<p>The Garden Terrace Apartments will be a multi-family development on La Crosse\u2019s near north side consisting of 50 apartments and a 2,000 square foot multi-purpose community center. Fifteen units will be reserved for households who are very low-income, are U.S. military veterans and homeless families.<\/p>\n<p>The Garden Terrace will be enriched with services provided through referral partnerships with <a href=\"http:\/\/www.couleecap.org\/\">Couleecap<\/a>, the <a href=\"https:\/\/www.tomah.va.gov\/\">Tomah VA Medical Center\u2019s<\/a> HUD VASH program, and the <a href=\"http:\/\/dva.state.wi.us\/Pages\/home.aspx\">Wisconsin Department of Veteran Affairs\u2019<\/a> Veteran Outreach and Recovery Program. Homeless households enrolled in comprehensive case management programs provided by these partners will have access to wrap-around services designed to support tenants in retaining housing and achieving personal goals.<\/p>\n<p>The community facility will house the Kane Community Hub, a resource that will be open to Garden Terrace residents, the <a href=\"https:\/\/lacrossehtf.org\/the-kane-street-community-garden\/\">Kane Street Garden<\/a> and the surrounding neighborhood. This space will feature a multi-purpose meeting space, a catering-style kitchen for activities such as nutritional classes and community meals, and on-site property management offices. The Kane Community Hub also will be a space for Impact Seven\u2019s referral and supportive services partners to have one-on-one client meetings, group sessions and other programming. Located adjacent to the Kane Street Community Garden, the Hub will foster interaction among the <a href=\"https:\/\/lacrossehtf.org\/the-kane-street-community-garden\/\">Hunger Task Force <\/a>and the development\u2019s supportive service partners working with veterans and households transitioning out of homelessness.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>La Crosse&#8217;s Garden Terrace Apartments moves forward with a tax credit allocation A $683,000 Low Income Housing Tax Credit (LIHTC) allocation this month will jumpstart the Garden Terrace Apartments development in La Crosse. \u201cThe LIHTC award was one of the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":18612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[39,41,37],"tags":[],"class_list":["post-10217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-impactsevennews","category-press-release","category-rdnews"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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