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FOWLER AND RENSSELAER, IND. — BWE has arranged a $10.8 million USDA RHS 538 GRRHP loan to provide permanent financing for the renovation of two affordable housing properties totaling 132 units in Indiana. Madison Cottages of Benton County, located in Fowler, totals 61 units across eight buildings. Madison Cottage of Rensselaer features 71 units across 12 buildings. All of the units are reserved for tenants earning up to 60 percent of the area median income. Lundat Kassa and Bob Morton of BWE structured the loan with a 40-year term and amortization. The project received additional financing through the use of 4 percent Low-Income Housing Tax Credits provided by the Indiana Housing and Community Development Authority.