Currently, Linden Apartments is part of the U.S.D.A.’s Rural Development Program. The existing financing is subsidized through the government, and in exchange, the rental rates are restricted and set by RD each year. Additionally, RD administers’ significant control over the operation of the complex, requires annual budgets to establish a balanced income and expense, to provide negligible cash flow. Linden Apartments is being offered to the market via the “Prepayment Program,” whereby the asset is officially removed from the government program. This process enables an investor to operate the community outside of governmental control by increasing rents and having no limit on cash flow. This is an established process that IPO has navigated several investors through in over a dozen transactions. Any existing tenant receiving rental subsidies from RD are offered a “voucher” to help transition the property to market rate.