Comment on Albany's Historic Pastures Mansions rehab completed

ALBANY — Albany celebrated Tuesday the completion of the rehabilitation of 246 units of housing for low-and moderate income families on Herkimer Street in the Pastures area. Funding includes financing from NYS Housing Finance Agency tax-exempt tax exempt bonds; HCR subordinate funding of $4,375,000 from HFA, $2 million through the Homes for Working Families program, $250,000 through the Community Investment Fund; $10 million Low Income Housing Tax Credit equity; $2.5 million State Low Income Housing Tax Credit equity; $2.2 million of subordinate funding from Citibank; existing reserves and rental income.