May 2011. Well the bad news is that we will have to wait a year to begin construction the downtown development project. CARE 66 was not awarded Low Income Housing Tax Credits. We are very disappointed.
Our plan B was a HUD Choice Neighborhood grant but we were disqualified for this also. We will probably reapply for a HUD Choice Neighborhood grant if we can find a project that fits the urban nature of this project.
Our plan is to fix the weaknesses identified in the current application and resubmit in 2012. We are also looking at other financing options but have not found any capital to make those options viable.
The Lexington begins the first step of renovation this month with asbestos abatement. Sometime next month, once the asbestos has been cleared out we will begin the process of making it habitable. Stay tuned for more news.
In September we will have our second annual bicycle ride to raise money for CARE 66 and awareness about solutions to homelessness. If you would like to participate by riding, helping with logistics, or sponsoring the event please email me or call me.
Also we are looking for a Chief Financial Officer. The job is outlined on our website and blog. Nonprofit accounting and housing experience or its equivalent would be critical components of a qualified candidate’s resume. We are also always looking for Board members.
If you are interested please send me an email to set up a meeting and talk.
Until next month stay well and do good!
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