State Treasurer to officiate at St. Peters Ribbon Cutting Ceremony
State Treasurer Nancy Farmer will join St. Peters Mayor Tom Brown for
the grand opening of the Canterbury Park apartments at 2 p.m., June 5.
The State Treasurer serves as the Vice Chair of the Missouri Housing
Development Commission.
The 61-unit apartment complex for seniors located along Salt Lick Road
near Interstate 70 is being developed by the North East Community Action
Corporation (NECAC) with Affordable Equity Partners, Inc., of Columbia.
MHDC provided a $1 million federal HOME loan and $428,250 in federal and
state Housing Tax Credits to finance the project under the Rental
Production and Preservation program.. Fannie Mae provided an additional
$887,500 in financing.
The $5.8 million development features two-bedroom apartments for people
ages 62 and older who meet income guidelines. Rent for each apartment
will be $410 per month.
NECAC serves as general partner and is responsible for overall operation
of the apartments. The community action agency won funding for the
development through a competitive process conducted by MHDC each year.
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