United States Department
of Agriculture • Rural Development
Contact: Alec Lloyd (517) 324-5204
EAST LANSING, Oct. 24, 2007 – USDA Rural Development Director for Michigan Gene DeRossett today presented a $1,658,362 ceremonial check to Leslie Partners LLC for upgrades to the East End Apartments in Leslie.
“Affordable housing is a key part of revitalizing rural Michigan,” said DeRossett. “This is an excellent example of how USDA Rural Development is helping local residents.”
The money consists of $709,000 to finance the purchase of the 32-unit property and $949,362 to cover the cost of capital improvements. Improvements range from a new parking lot, site drainage, 5 percent barrier-free accessible housing, 2 percent hearing impaired accessible housing, boilers, air conditioning, siding, roofing, landscaping, kitchen cabinetry, bathroom countertops as well as fixtures, lighting, flooring, appliances, paint, on site barrier-free accessible laundry and a barrier-free on-site office facility.
USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity, liquidity, and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov/
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