ARCH Community Housing Trust receives a reservation of funding for Low Income Housing Tax Credits and HOME funds in order to construct the River Street Senior Community in Hailey, Idaho.
Hailey, Idaho – April 12th 2010 ARCH Community Housing Trust and Autumn Gold Senior Services learned today that their application for Low Income Housing Tax Credits and HOME Funds was approved by Idaho Housing and Finance Association (IHFA). IHFA has reserved $592,992 in Low Income Tax Credits and $515,000 in Home Funds to assist in the proposed 24 unit apartment community for low income Blaine County senior households.
Many factors contributed to the successful application including the commitment by the City of Hailey to lease the land for the development and wide spread community support. The application included letters of support from Representative Wendy Jaquet, The Cities of Sun Valley and Bellevue, The Blaine County Housing Authority, The Hunger Coalition, Hospice, Mountain Rides, the Senior Connection as well as personal letters of support and commitments of supportive funding from families and individuals.
Next steps will be to prepare more detailed development plans and to begin the PUD review process with The City. We anticipate beginning construction in the Spring of 2011 with the objective of housing the 1st senior residents in late Fall of 2011.
ARCH Community Housing Trust is committed to provide decent, safe and affordable housing in Blaine County. www.archbc.org