Senior-Housing Builder has Funding Problems ; S. Hackensack to Discuss Issue Tonight

The Record, Bergen County, NJ › January 11, 2007

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Summary

SOUTH HACKENSACK The second developer hired to build the long- stalled senior housing complex is having a hard time getting funding for the project.

E-Tomic General Contractors of Paterson was awarded the contract last year to build the 25-unit building on Grove Street but recently informed town officials it has been unable to secure tax credit approval from the state.

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Senior-Housing Builder has Funding Problems ; S. Hackensack to Discuss Issue Tonight

The tax credits allow investors to provide money for the project and receive tax credits in return. It also allows the devel...

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