West Village Apartments - Ithaca, NY
Omni acquired the property in March 2008 with financing provided by the New York State Housing Finance Agency (HFA) through tax exempt bonds, low income housing tax credits and secondary financing. The New York State Energy Research and Development Authority (NYSERDA) awarded grant funding to complete energy efficient measures. It underwent a 236 Decoupling upon acquisition whereby all existing tenants on the date of acquisition received enhanced Section 8 vouchers.
A $8.9 million rehabilitation of the property was completed in 2009.