Highlands Residential Services is awaiting a decision on a tax credit application submitted for the Magnolia Ridge housing development.
Executive Director Chris Cassetty said the application was submitted to the Tennessee Housing Development Agency at the beginning of April.
“We had an update on Magnolia Ridge, but it’s basically just that the tax credit application is in and we probably won’t hear anything until July,” Cassetty said. “And that’s really pretty much it.”
Cassetty said the agency is currently waiting to see how the application scores to determine if the project will receive funding. Cassetty said the board also reviewed recent physical inspections conducted by the Department of Housing and Urban Development on existing properties.
“Our scores have ranged anywhere from 91 to 99, which are awesome scores,” Cassetty said. “It just highlights how great a job our maintenance folks do, and we just talked about that a minute, but that not anything that requires official board action.”
Cassetty said the high inspection scores reflect the quality of work performed by the maintenance staff across all but two of the agency’s properties.
“We did go over with the board that HUD does come out and do physical inspections on our properties, and all but two of our properties have been inspected, and our scores have ranged anywhere from 91 to 99, which are awesome scores,” Cassetty said.
