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Contact: Brandon Laster, Public Information Officer
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Release No. 98-06-08
June 29, 1998

BUTLER APARTMENTS OPENS TO FULL HOUSE

[Kansas City] A new affordable housing complex that opened its doors during the first week of June already can boast of a full house at its grand opening.

The Butler Plaza apartment complex in Butler, Missouri, was the site of a grand opening Friday, June 26. "The fact that we are filling our final apartments as we have a grand opening fully signifies that this development will definitely fulfill a need in Butler," said D. Kim Lingle of MBL Development, the developer and owner of the complex. "The community has worked very hard to get the necessary funding for these apartments and can now be proud of that effort."

The 28-unit development includes 24 two-bedroom apartments and four three-bedroom units. Three of the units were specially designed to accommodate persons with disabilities.

The Missouri Housing Development Commission (MHDC) assisted in financing the development by approving an $802,800 HOME loan at one percent interest over 32 years. The Commission also approved a $154,928 federal tax credit and a $30,986 state tax credit. The tax credits are an essential part in the development because they help the development raise equity thus resulting in lower rent prices for the tenants. All the units will be affordable to families with an income less than 50 percent of area median income.

MHDC is a self-supporting state agency that has boosted the state economy through construction and real estate activity while increasing the supply of affordable housing in Missouri. The mission of MHDC is to provide safe, quality, affordable housing to low and moderate income citizens of Missouri. More information about MHDC can be found on the web at www.mhdc.com.

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