Pecan Cove – Community Action Program of North Alabama

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Community Action Program of North Alabama (CAPNA) closed a $926,000 mini-permanent loan that will be used to refinance $900,000 of existing debt for a year 15 LIHTC property and fund closing costs and immediately needed repairs. Pecan Cove Apartments was completed in 2007 and provides 60 affordable apartments for families in Mobile, Alabama. This mini-permanent loan will be an interim financing solution for CAPNA as it prepares to resyndicate the property.

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