|(APRIL 20, 2011) USDA RURAL DEVELOPMENT CELEBRATES NEW OWNERHSIP AND RENOVATION OF OZARK MEADOWS, LP|
|Ozark, MO, Apr 20, 2011
@@Anita J. (Janie) Dunning, Missouri State Director for USDA Rural Development, presented a Certificate of Appreciation on April 20, 2011 recognizing new ownership and renovation of the senior citizen housing complex in Ozark. The property was transferred from Ozark Senior Citizens Housing, Inc., a not-for-profit corporation, to Ozark Meadows, LP, a limited partnership. Red-Wood Development, Inc. is the developer and also a general partner of Ozark Meadows, LP. Their goal is to preserve affordable housing for the existing residents. The property began with a loan from USDA in 1975 to the board of directors and a subsequent loan was made for an addition in 1984.
Today’s ribbon cutting and open house celebrates the Grand Opening after major renovation and new construction at the property. The apartment complex consists of 44 newly remodeled 1-bedroom units; construction of a new community building which includes laundry facilities, computer room, library, piano, and a meeting room with kitchen. A storm shelter was constructed and includes some additional laundry facilities. All exteriors have new siding and the interiors were remodeled with all new flooring, sheetrock, doors, and windows, central heating and air, built-in microwaves, ceiling fans, and sidewalk and parking lot improvements. Funding of this project has been administered through the Missouri Housing Development Commission (MHDC) federal and state tax credit assistance program loan, tax credits and the owner’s contribution. The total development cost is $3.9 million.
“I commend the hard work and dedication of the former board of directors who secured the original loans to provide affordable housing for the local senior citizens of Ozark. The new owners are to be commended for their utilizing innovative MHDC financing to continue to ensure safe, desirable and affordable rental housing for the senior citizens in Ozark,” said Dunning. “It is examples like this that exemplify the mission of the agency…Committed to the future of rural communities!”
Anyone seeking more information about this or any other USDA Rural Development program may visit the homepage at http://www.rurdev.usda.gov/mo/ or by contacting Steve Cheatum, Area Specialist, at 688 S. State Hwy B, Suite 400, Springfield, MO 65802-9109 or by calling (417) 831-5246 Extension 4 or by email to firstname.lastname@example.org.
Committed to the future of rural communities
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