icon-search icon-programRelatedInvestments icon-missionRelatedInvestments icon-lowIncomeHousingTaxCredit icon-technology icon-placeBased icon-loanGuarantee icon-minority icon-equityInvestments icon-close calendar chevron-thin-up chevron-thin-down chevron-thin-right chevron-thin-left icon-facebook icon-linkedin icon-twitter icon-youtube icon-caret icon-lock icon-star-in-circle heart-icon home-icon dashboard-icon messages-icon user-icon

Community Housing Capital and Disability Opportunity Fund- $900M Rehab Loan

Success Story
Asset ClassMulti-Family Housing
GeographyVermont
CityNewport, VT
Amount$900,000
Financing TypeParticipation Loan
Interest Areas
Disability
Housing

Community Housing Capital (CHC) used CapNexus to find a participation partner for a $900,000 loan to RuralEdge, a community development organization engaged in the preservation and substantial rehabilitation of a 24-unit affordable rental apartment building for seniors. The Governor Prouty Apartments are on 1.51 acres located in a mixed-use neighborhood that was developed over 100 years ago on the shores of Lake Memphremagog in Newport, Vermont.   The Disability Opportunity Fund (DOF) saw the CapNexus announcement and responded to CHC.  DOF provides funding for projects that address the gap in housing and related services for people with disabilities and their families.  Dave Landis, COO, Community Housing Capital, was glad to make the connection. “Prior to joining CapNexus, we were not aware of DOF. Now it’s become a great partnership for us and we’ve done two separate participations with them, “ Dave said.  CapNexus brings partners together to accomplish a common objective.

Non-Metropolitan County Status and NMTC Eligibility: 
Eligible and Non-Metropolitan

Data provided by

CDFI Fund New Markets Tax Credit Eligibility

% of Area Median Income: 
69.17%
Poverty Rate: 
37.90%
Unemployment Rate: 
9.30%
SBA HUBZone: 
Qualified HUBZone
Medically Underserved Area: 
Not an MUA/MUP

CDFI Fund Investment Areas

High Population Loss: 
Low Population Loss (Metro & Non-Metro)
Total Population: 
2,484
% of Area Median Income: 
74.69%
Unemployment Rate: 
9.3%
Poverty Rate: 
37.9%

CRA Eligibility

CRA Eligibility: 
Moderate Income
% of Area Median Income: 
74.69%
Minority Population: 
46

BEA Distressed Communities

BEA Distressed Community: 
Distressed Community (Complete)