Multifamily Capital Resources, Inc.
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Subject Property: Lancaster Heights
Description: 198 units, HUD Section 236
Location: Normal, IL
MCR Participation: Enhanced Voucher and Rent Increase Processing Consultant to Buyer

In some cases, MCR is called upon by skilled affordable housing development teams with approved financing and/or Low Income Housing Tax Credit (LIHTC) funding who only require assistance with one or two components of their overall effort.  In the case of Lancaster Heights, MCR was called upon to provide our specialized turnkey processing services for both new Section 8 Enhanced Vouchers (EVs) and a Section 236 rent increase package.  Both were successfully compiled and submitted on behalf of the buyer, an East Coast concern, and tracked until full approval was granted by the Chicago HUD Office.  In addition, MCR staff organized and led an on-site tenant information session, surveyed all tenant incomes for a comprehensive Tenant Profile report of household sizes and incomes as requested by the State of Illinois, and provided technical consultations to the local Housing Authority on behalf of the owner until all new Section 8 Enhanced Vouchers were fully implemented.