Lancaster Pollard helps health care, senior living, affordable housing and private education organizations expand and improve their services by providing financial advice and financing solutions. Lancaster Pollard’s services enable hospitals, assisted living facilities, nursing homes, rural housing properties and private schools to develop the financial plans and secure the funding necessary to continue to serve their communities and lets them focus on what’s truly important –their residents, their patients, and their students.
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Home > News > Press Archive > 7/19/06 Ohio 202 Refinance

Refinance pays for repairs to protect senior residents, building from weather
COLUMBUS, Ohio (July 19, 2006) – A low-income senior apartment complex located in the northeast Ohio snow belt will protect its property and residents against winter storms and summer heat through a refinance provided today by Lancaster Pollard.

Secrest Village was created in 1986 by converting a building originally constructed in 1851 into 22 low-income senior apartments, with an additional 23 units provided in adjacent cottages. The property’s $1.8 million refinance reduces the property’s interest rate by 3.35 percentage points and provides $181,993 for repairs. Secrest Village also will renovate its kitchens with new cabinets and countertops, replace doors and make exterior repairs that will improve aesthetics and prevent deterioration. The refinance also pays for an emergency generator to protect residents against the power outages the area is vulnerable to during summer heat and winters snowstorms.

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