Publisher's Synopsis
Excerpt from Oak Street Village: Application to the Neighborhood Housing Trust, September 17, 1991
The Asian Community Development Corporation (acdc) is requesting the Neighborhood Housing Trust to authorize the award of predevelopment assistance in the amount of to build affordable housing at our Oak Street Village project in Chinatown. Acoc and the City of Boston have been presented an unique and exciting opportunity by the afl-cio Housing Investment Trust. This award is essential to enable acdc and the City of Boston to take advantage of this opportunity.
First, acdc and the bra have submitted a proposal to aflcio for construction and permanent mortgage financing under its Housing Investment Fund. After several meetings and a site visit, afl-cio has indicated that it is interested in pursuing Oak Street Village as its first housing investment project in Boston, and would like to be able to make a mortgage commitment this Fall. Without seed money, acdc is at an impasse in proceeding with architectural designs, in paying the necessary mortgage processing fees and in continuing other predevelopment work needed for mortgage approval this Fall.
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