Dorfman Capital Announces Completion of Low Income Housing Tax Credit Equity Financing of Assisted Living Facility Colorado Springs, CO

Bob Dorfman, president of Dorfman Capital, announced the completion of a 4% federal low income housing tax credit ("LIHTC") sale associated with the construction of the Residence at Skyway Park in Colorado Springs, Colorado. The building will be a 65 bed assisted living facility for low-income household recipients and moderate to middle income individuals. The facility is expected to open in the summer of 2009.

(PRWEB) November 10, 2008 -- Bob Dorfman, president of Dorfman Capital, announced the completion of a 4% federal low income housing tax credit ("LIHTC") sale associated with the construction of the Residence at Skyway Park in Colorado Springs, Colorado. The building will be a 65 bed assisted living facility for low-income household recipients and moderate to middle income individuals. The facility is expected to open in the summer of 2009. The developer of the facility is National Healthcare Associates, Inc. ("NHA") headquartered in Coral Gables, Florida. The principals of NHA are Patricia Greenberg and Robert Matrazzo.

Projects eligible for low income housing tax credits are a "qualified low-income housing project," which is a "residential rental property" that satisfies both a tenant-income requirement and a rent-restriction requirement under either of the two minimum set aside tests:

a. 20-50 test: 20% or more of residential units are rent-restricted and occupied by individuals with income of not more than 50% of area median gross income; or

b. 40-60 test: 40% or more of residential units are rent-restricted and occupied by individuals whose income is not more than 60% of area median gross income.

About Dorfman Capital
Dorfman Capital is the financial advisor for low cost debt and equity capital to successful real estate developers and corporations through innovative finance programs. Dorfman Capital specializes in the sale of low income housing and historic rehabilitation projects. low income housing tax credits and historic tax credits are an integral component of the financing for these projects. Bob Dorfman (http://www.dorfmancapital.com) is president of Dorfman Capital located in the Greater Boston area.

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