The AHEPAN - Fall 2016 - 23


HOUSING

L-R: ANHC President Angelo Kostarides, AMC President/CEO Art Poly, Sam Benjamin, PST
Tom Gober, PSP Nick Smyrnis, Supreme President Galanis, Panos Niarchos, Fr. Bill Bartz and
George Pappas.

L-R: Ryan Palombi PTA/RD with Legacy Health
Care, Supreme President Galanis, Aretha
Williams, Manager Phase III; and President
Kostarides.

Supreme President Galanis Visits AHEPA Management
Office, Indianapolis Housing Facilities
Angelo Kostarides
Then Supreme President John Galanis visited Indianapolis
and toured the AHEPA Management Company's office in
Fishers, an Indianapolis suburb, June 20, 2016. Galanis met
with AHEPA National Housing Corporation President Angelo
Kostarides and AMC President/CEO Arthur Poly.
During the day, Kostarides took the supreme president to
AHEPA 232 Phases I & II to show him the rehab progress and

the plans for the Assisted Living Conversion Program grant
(ALCP) of the northwest wing of phase I.
After the tour, the Supreme President visited AHEPA 232
Phase III on the northwest side of Indianapolis for a tour of
ANHC's latest facility in Indianapolis.
AHEPA Chapter 232 and Hoosier District 12 Lodge held
a reception with the supreme president during the evening.

AMC Closes on Largest Transaction by ANHC, AMC for
AALF Development
The AHEPA Management Company (AMC) has passed a major
hurdle in its quest to develop Affordable Assisted Living
Facilities (AALF). The Indiana Housing and Community
Development Authority has completed its review of an
application submitted for the Hellenic Senior Living of
Indianapolis project. The Authority is responsible for financing AMC's request for Economic Development Revenue
Bonds.
AMC submitted the required reservation fee of 6.5% of the

www.ahepa.org

annual credit amount of $728,959 requested. $16,500,000 of
carryforward bond volume has been awarded.
Additionally, the second AALF at New Albany, Indiana, is
expected to close soon.
A third AALF in Hamilton, Ohio, has been put on hold
because the Ohio Housing Finance Authority is not ready, but
it is hoped to resume discussions in fall 2016.
The full funding for all three will exceed $23 million each.
The interest rate on the bonds is 6.25%.

Fall 2016 ยท THE AHEPAN

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Table of Contents for the Digital Edition of The AHEPAN - Fall 2016

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The AHEPAN - Fall 2016 - Intro
The AHEPAN - Fall 2016 - No label
The AHEPAN - Fall 2016 - 2
The AHEPAN - Fall 2016 - 3
The AHEPAN - Fall 2016 - 4
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The AHEPAN - Fall 2016 - 40
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