Construction financing for this development will be provided by IBC in the amount of $10MM. The Town of Indian Lake made financial contributions to the development totaling $15,000 including a construction period loan. USDA D provided a permanent mortgage at stabilization at 4% per annum fixed for 15 years, with a 40-year amortization permanent mortgage in the amount of $5MM. The contractor broke ground on the project in December 2017. Completion: March 2019. HTC award was $880,000 in annual 9% credits or $8.8MM total. The construction contract was $9.35MM.