CPA Projects – Detailed Report Project Information Project Name 555 Merrimack Street City/Town Name Lowell Project ID 52597 Town ID 160 Description Construction of 27 affordable units for individuals/families with substance abuse disorders, and improvements to the adjacent canal walkway. The applicant will grant the City of Lowell a 30-year affordability restriction on the 27 units. Status Project in progress Approval Date 02-15-2022 Project Category Open Space Housing Recreation Historic Project Details Housing Units New 27 Supported 0 Total 27 Acres Open Space 0 Housing 0 Recreation 0 Historic 0 Mixed Use Uncategorized Acres 0 Total 0 CPA Funding Open Space $0 Housing $220,000 Recreation $0 Historic $0 Uncategorized $0 Total $220,000 CPA Bonded Amount $0 Bond Term 0 Transferred TO a Fund/Trust Transferred FROM a Fund/Trust $0 Other Funding Sources Leveraged Other Town Funds $600,000 Private Funds $0 State Funds $2,850,000 Federal Funds $300,000 Other Misc Funds $8,026,000 Other Funds Description Passive House Incentives - 81,000 Tax Credit Equity - $7,542,000 Sponsor Loan - $403,000 Total Project Cost $11,996,000 Total Funds Leveraged From Other Sources $11,776,000 Show fields from Show fields from Show fields from a related table a table related to ""
