Project 1 is a rental project in the City of Boston known as "Main Street Apartments".
The Project involves new construction of a single 87-unit building. The sponsor is
Center City Community Development Corporation, a non-profit community development
corporation. The Project will be funded through a construction mortgage from
Interstate National Bank in the amount of $2,500,000 and a permanent first mortgage
loan from the Massachusetts Housing Partnership in the amount of $800,000. The
Project involves a low-income housing tax credit syndication. The Project will receive
loans from the following MassDocs programs:

1. $750,000 loan from Community Economic Development Assistance Corporation under
the Housing Innovations Fund (IV) program;

2. $660,000 loan from the Department of Housing and Community Development under
the federal HOME program;

3. $1,000,000 loan from Community Economic Development Assistance Corporation under
the Massachusetts Community Based Housing program; and

4. $200,000 loan from the Massachusetts Housing Partnership under the Home Funders
program.

The Project will also receive a $1,500,000 HOME Loan from the City of Boston.