KeyBank Community Development Lending and Investment (CDLI) provided $17.1 million in LIHTC equity and a $24.1 million permanent loan through the Fannie Mae forward MBS Tax-Exempt Bond (MTEB) program for the acquisition and rehabilitation of Tomkins Terrace, an affordable multifamily property in Beacon, NY. The $24.1 million of tax-exempt MTEB bonds were sold by KeyBanc Capital Markets. Tompkins Terrace is a 193-unit garden-style apartment community available to households earning no more than 50 and 60 percent of the area median income. Of the total units, 61 of them will benefit from the Section 8 Housing Assistance Program (HAP) program.
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