Disclosures

Grand Lowry Lofts

The project restricts occupancy to elderly families pursuant to the requirements of Section 3-18.B of HUD Handbook 4350.3. The project qualifies to restrict occupancy to this population because it was originally financed with a state agency non-insured Section 236 loan and was designed for occupancy by elderly families, as evidenced by designations in a Certificate of Occupancy as well as an Easement Grant from the project’s original development. These documents serve as secondary sources showing that the project was originally designed for occupancy by elderly families, as required under Section 3-18.B.3 of HUD Handbook 4350.3. An elderly family is one in which the head of household, cohead, or spouse is at least 62 years of age.