CHFA extends and amends Cherry Street Lofts loans | Connecticut Department of Housing | RAILROAD AVENUE LOFTS LLC

Scope & details

The full contract record, as filed.

Contract amount

$22,500,000 construction loan; $12,500,000 permanent loan; $733,125 transfer from working capital reserve to interest escrow

Contract type

FINANCIAL_SERVICES

Contract term

Construction loan maturity extended to December 1, 2020; permanent loan interest-only period extended to November 30, 2020

Renewal date

2020-12-01

Renewal

Modification must close by December 31, 2019 or the resolution becomes void, with potential extensions at the Executive Director’s discretion.

Document type

Minutes

Source document

connecticut-housing-finance-authority-board-minutes-november-21-2019_1d6.pdf

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Connecticut Housing Finance Authority Minutes Board of Directors Meeting No. 644 2026-07-23

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loan; at least $1,000,000 partial repayment/paydown requiredJul 23, 2026

ct-housing-finance-authority-board-minutes-bond-underwriters-cherry-street-lofts-oct-28-2021_106.pdf

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction mortgage loan; $12,500,000 permanent mortgage loan; $5,000,000 FAF mortgage loanOct 28, 2021

connecticut-housing-finance-authority-minutes-150m-mortgage-bonds-mobile-home-loan-housing-forbearance-nov-19-2020_723.pdf

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loanNov 19, 2020

connecticut-housing-finance-authority-public-notice-october-15-2020_687.pdf

PENDING

Connecticut Department of Housing, Connecticut$44,700,000 (maximum principal amount of mortgage loans for development)Oct 15, 2020

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Connecticut Department of Housing?

Railroad Avenue Lofts Llc was awarded this financial services contract by Connecticut Department of Housing, as recorded on November 21, 2019. The contract value is $22,500,000 construction loan; $12,500,000 permanent loan; $733,125 transfer from working capital reserve to interest escrow.

How much is the Railroad Avenue Lofts Llc contract with Connecticut Department of Housing worth?

The Railroad Avenue Lofts Llc contract with Connecticut Department of Housing is valued at $22,500,000 construction loan; $12,500,000 permanent loan; $733,125 transfer from working capital reserve to interest escrow, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in connecticut-housing-finance-authority-board-minutes-november-21-2019_1d6.pdf (Minutes), dated November 21, 2019 from Connecticut Department of Housing. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Railroad Avenue Lofts Llc hold?

Railroad Avenue Lofts Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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