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re: Dozens evicted from low-income units at American Can complex
Posted on 12/20/16 at 6:43 pm to 4cubbies
Posted on 12/20/16 at 6:43 pm to 4cubbies
This is common. They've fulfilled their obligations and the affordable housing restrictions have expired. The article is a little misleading. Sure, government bonds were used to financing the acquisition and/or construction of the building. But the owners have to repay those bonds. It's not like the government "gave" them millions of dollars. If tax credits were involved, they likely had a LP that was involved, and they typically exit these deals after 15 years (when the credits run out and the losses are dried up).
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