About

<p style=”text-align: center”><strong><em>A PORTFOLIO OF THREE INEXPENSIVE HAP ASSETS AVAILABLE ON ASSUMPTION ONLY.</em></strong></p>
<b>Northview </b>is located in the heart of Kilgore, Texas. The 72 unit asset was constructed in 1979 and offers residents an array of amenities including a secured entry, playground, on-site laundry and 24 hour maintenance. The asset is financed by USDA Rural Development, has a TDHCA HOME Loan and it has a HOME and a USDA Land Use Restrictive Agreement. The USDA debt cannot be paid off and Home Loan can be assumed.  Rehab on the property is budget driven and established by USDA.

<b>Ole Town </b>is located in the heart of Jefferson, Texas. The 24 unit asset was constructed in  and offers residents an array of amenities including a secured entry, playground, on-site laundry and 24 hour maintenance.

The asset is financed by USDA Rural Development, has a Housing Tax Credit Land Use Restrictive Agreement and has a HUD Project Based Section 8 HAP Contract.  The HAP Contract has a 20 year term and commenced December, 2012.  There are renewals of rentals every five year based on area market rents and there is an adjustment for operating costs (OCAF).  There is a USDA restrictive use covenant which started June, 2005 and lasts 20 years.  The USDA debt cannot be paid off and Home Loan can be assumed. Rehab on the property is established by USDA.

<b>Sunset Place </b>is located in Malakoff, Texas. The 36 unit asset was constructed in  and offers residents an array of amenities including a secured entry, playground, on-site laundry and 24 hour maintenance.

The property is under a HAP contract that expires March of 2031.  It has a 20 year term. Every 5 years, there is a rental adjustment based on market rents, and an OCAF (operating cost adjustment factor). There also is a HOME LURA which expires end of July, 2024. The USDA debt cannot be paid off and Home Loan can be assumed. Rehab on the property is budget driven and established by USDA.

<em>The assets are offered to non profits with 501 C 3 with CHDO exemption. It is anticipated that the non profit will get an 85% tax abatement, continue with the loan subsidized to 1% interest, and keep the attractive management fee in place.</em>
<p style=”text-align: center”><strong><em>More details on the LURA, loans and tax credits can be found in the KET Marketing Materials.</em></strong></p>