The Housing Authority of Livingston Tennessee and their Executive Director, Ken Mabery had a dream to not only preserve their existing public housing via a RAD Conversion, but to develop more affordable housing.
“Small communities are struggling with the need for affordable housing, ” said Sunny Fitzgerald, vice president, “and Centennial’s team including Bill Arnold, Connor Danigelis, Cindy Ross and myself were truly honored to have the opportunity to help.” By using the FHA Section 223f loan program on a debt only RAD-PBRA Conversion, Livingston not only secured funding for their current repair needs, and funds for 20 years of capital needs, they also generated cash for future affordable housing. “We were also very happy to work with Joyce Floyd at Recap Advisors again,” noted Fitzgerald, “their RAD Consulting services are second to none.”
This 223(f) amounted to $1,347,300. This project was originated by Sunny Fitzgerald, Vice President