Artspace Projects, Inc. - Center for Community Innovation
Artspace Projects, Inc. - Center for Community Innovation
Artspace Projects, Inc. - Center for Community Innovation
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Where the money comes from<br />
SOURCE AMOUNT PCT.<br />
Public Sources<br />
Federal low income housing tax credits $ 6,592,060 41 %<br />
State low income housing tax credits $ 2,796,404 17 %<br />
Federal historic tax credits $ 1,678,775 10 %<br />
HOME funds ($900,000 from state, $400,000 from city) $ 1,300,000 8 %<br />
<strong>Community</strong> Development Block Grant (city) $ 300,000 2 %<br />
Federal allocation $ 250,000 2 %<br />
Private Sources<br />
Private sector (philanthropic gifts) $ 1,400,000 9 %<br />
First mortgage $ 1,200,000 7 %<br />
Deferred developer’s fee $ 670,944 4 %<br />
TOTAL $ 16,188,183 100 %<br />
Project: <strong>Artspace</strong> Buffalo Lofts
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