(as seen on CoatsRose.com)
NEW ORLEANS – August 7, 2018 – Coats Rose attorneys Kelly Longwell and Alysse Hollis advised the Leesville Housing Authority (LHA) on the recently completed RAD conversion of the Twin Lakes of Leesville, a four-site development with 194-units. This is the first RAD portfolio conversion in Louisiana and it was the first project in the country to receive a RAD PBV Utility Waiver.
The 14-month renovation led by Executive Director, Barbara Kaveski, partnered with BGC Advantage, led by CEO Holly Knight, to transform the aging public properties into a vibrant and sustainable affordable housing community. The conversion was made possible by securing a complex layering of funding totaling $23,433,133 from multiple sources, including: Enterprise Community Partners, Bellwether Enterprise (RD 538 Loan), PHA funds, Louisiana Housing Corporation HOME Funds, and Tax-Exempt Bonds.
For more details, read the complete article, “Leesville Housing Authority Brings New Life to The Twin Lakes of Leesville Housing Development” published in the Louisiana Housing Council’s LHC Newsline, Summer 2018 Edition.