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Whitin Mill restoration project receives state funds |
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January 23, 2006 - The Whitin Mill Restoration Project in Northbridge spearheaded by Alternatives Unlimited, Inc. has been awarded more than $806,000 in state funding according to Senator Richard T. Moore (D-Uxbridge) and Representative George N. Peterson, Jr. (R-Grafton). Funds will come from in the form of loans from the Housing Stabilization Fund ($325,000) and the Facilities Consolidation Fund ($539,506). These programs are administered by the state Department of Housing and Community Development (DHCD) using a combination of state and federal financial resources. “Restoration projects, like the Whitin Mill complex are essential to the continuing social and economic vitality of this growing community,” said Moore. “This funding will allow Alternatives and the town to renovate the Whitin Mill and will provide necessary housing to our most needy citizens. I am confident that this project will help improve the lives of all residents and spur economic growth.” Representative Peterson Jr., a Republican from the ninth Worcester District joined in applauding the organization’s efforts and dedication to community development. “I’m pleased that the governor and DHCD Director Jane Wallis Gumble recognize the importance of the Whitin Mill Restoration Project. The completion of this project will create a thriving community space, not only for the most challenged individuals in the community, but for all the citizens of Northbridge and Blackstone Valley communities,” said Representative Peterson Jr. “I deeply appreciate this grant of $864, 506 to Alternatives, which is the driving force behind this project.” The funds awarded to Alternatives are part of $71.2 million in state resources for rental housing development across the state. Approximately $46.5 million of the funds announced will be generated through private investment in exchange for state-administered federal low-income housing tax credits. Another $3.2 million will be leveraged through state tax credits. The remaining $21.5 million will be awarded from the DHCD’s programs which are designed to serve developers who produce housing for income-eligible seniors, families individuals and special needs residents across the state. The Whitin Mill Project will contain three new housing units serving six people. Five of the placements will be affordable for low-and moderate income individuals. If these units are maintained affordable for 30 years, for the FCF and 40 years for the HSF, then loans will be waived at that time. "We are delighted that DHCD has provided Alternatives with this significant interest-free loan. It will allow us to break ground for the Whitin Mill restoration in the spring as scheduled, and provide quality affordable housing for several of the individuals with disabilities that we serve," said Dennis H. Rice, Executive Director of Alternatives. For more information log onto Senator Moore’s web site at www.senatormoore.com. |
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