The Woodhaven Park Apartments project consists of a 304-unit affordable multifamily rental housing development located at 6363 Commons Drive, Indianapolis, Marion County, Indiana 46254. JPC Charities acquired the membership interest in and became the sole member of FARH-West Affordable Housing, Inc., a 501(c)(3) organization and the owner of Woodhaven Park Apartments on February 18, 2016. This project was financed with the proceeds of the issuance $38,415,000 in original aggregate principal amount of Public Finance Authority Multifamily Housing Revenue Bonds (Woodhaven Park Apartments and Estates at Crystal Bay Apartments Project) Series 2016. S&P rated these bonds and these bonds currently have a credit rating of “A-”. As of August 1, 2016, the units in the Woodhaven Park Apartments are 92% occupied. The project has made all debt service payments, when due, and is in material compliance with its financial and operating covenants.
