The Closing Is Completed!!

Mark went to Trenton today & signed all of the paperwork to complete the HMFA financing for construction of the Community Living Residence!

The HMFA financing package is for $2.2 million dollars, involving a number of major capital funding sources -

- New Jersey HMFA's Special Needs Trust Fund, which is providing the bulk of the long-term financing
- Hanover Township
- DDD
- "Friends of The Rose House" who, in one week, assembled a short-term loan for the purchase of the property
- New Jersey Community Capital, who provided the bridge loan for the balance of the property's purchase price
- Federal Home Loan Bank
- United Way of Morris County (most importantly, they were the "first money in" which gave Rose House a lot of credibility with HMFA and other funders to get the balance.

The Rose House extends a big "THANKS!" to all of them, and also to our wonderful individual and family supporters, who showed tremendous generosity and patience throughout this new, exciting, and sometimes difficult process.

Now, let the building begin!