But the authority had to put up a little more money to satisfy state requirements.

Most of the money for construction of 10 apartments at South Maple and West Butler streets is a PennHOMES deferred loan of $711,755 from the Pennsylvania Housing Finance Agency.

PHFA had asked for a letter of credit showing that if the apartments run into a deficit they would stay open.

Now, the agency wants $28,000 put into an escrow account to cover a potential first-year deficit," said authority Executive Director L. DeWitt Boosel.

The board complied with the request Wednesday, a move that completes the financing package.

"If everything goes well, it will come back to the authority," Boosel said of the escrow money.

The authority also is putting up $187,204 for construction.

A May 29 closing with the state is set in Harrisburg, and groundbreaking is tentatively set for June 17.

Trek Development of Pittsburgh is project developer.

The apartments will be available to seniors with low and moderate incomes, and a rental subsidy will be available.

Some services will be offered to residents, but not the level someone would find in an assisted living center.

The authority already has plans to build another 10 apartments after the first 10 are rented out and a waiting list has been compiled.