• Conduct extensive analysis of funding sources available such as Tax-Exempt Bonds, 9% and 4 % Low Income Housing Tax Credits, HUD Rental Assistance Demonstration Program (RAD), Multifamily Housing Program (MHP), Transit-Oriented Development (TOD), Infill Infrastructure Grant Program (IIG), Veterans Housing and Homelessness Prevention Program (VHHP), Affordable Housing and Sustainable Communities Program (AHSC), Joe Serna Farmworker Housing Grant Program, Mental Health Services Act (MHSA), California Housing Finance Agency (CalHFA), State of California HOME Program, McKinney Supportive Housing Program, Rural development programs, Project-based Section 8 vouchers and contract extension, Federal Home Loan Bank of San Francisco AHP program, HUD, including 202/811 Mixed-Finance and FHA mortgage insurance, and Preservation programs, Local CDBG, HOME and Redevelopment Agency programs, and other Federal, State and local funding source.
• Evaluation of timing considerations of all sources of funding and potential regulatory issues that may arise by combining sources.
• Provide as-needed financial advice regarding market conditions and trends, financial products, credit and credit analysis, alternative financing, and market developments and financing techniques which might be applicable to the development.
• Create affordable housing production strategies and negotiate with master developer in project area where applicable.
• Serve as a technical advisor in the disposition of selected properties.
• Analysis of HUD regulatory issues where applicable.
• Procurement of debt and equity providers and assist negotiations over loan amounts and terms to secure the most advantageous conventional and/or tax-exempt bond financing commitment.
• Analyze and assist in selecting potential bridge loan financing, a bridge lender, applying for bridge financing, and meeting bridge lender closing requirements.
• Assist in creating financial models and financial projections for submittal to local governments, lenders, investors, syndicators, etc.
• Assist in meeting due diligence requirements for final approval of Project by lender and investor.
• Assist in evaluating tax credit financing as part of a plan for the development
• Assist in developing financing models, lender bidding, review and negotiation of pricing and all terms, including rates and rate options, fees and expenses, forward rate locks, hedges, guarantees and covenants, valuation methodology, conversion terms, public vs. private placement structure, and other related issues.
• Assist in structuring a tax credit application, including project feasibility, regulation compliance, syndication and financing projections, meeting California Tax Credit Allocation Committee (TCAC) thresholds. Review full applications(s) for completeness and competitiveness prior to submission.
• Assist in structuring a tax-exempt bond application, including project feasibility, preparing financial projections, obtaining credit enhancement or bank purchaser, selecting a bond lender, meeting California Debt Limit Allocation Committee (CDLAC) thresholds. Review full application(s) for completeness and competitiveness prior to submission.
• Assist in structuring an application to the California Department of Housing & Community Development’s Multifamily Housing Program (MHP), including project feasibility, preparing financial projections, meeting MHP program thresholds. Advisor shall make best effort to review full application, assembled by HACCF, for completeness and competitiveness prior to submission.
• Assist in structuring an application for funding from the Mental Health Services Act (MHSA), including feasibility analysis, structuring the capital loan and/or capitalized operating subsidy, assisting with financial sections of the application. Advisor shall make best effort to review full application, assembled by HACCF, for completeness and competitiveness prior to submission.
• Prepare financial projections and analysis of various equity investment scenarios, as well as preparation of financial projections (including complete tax consequences) during due diligence, syndication closing and capital contribution funding.
• Assist in identifying, evaluating and selecting a tax credit investor by assisting Fresno Housing Authority and legal counsel to negotiate a letter of intent and/or commitment letter from a prospective limited partner which frames the key terms of the investment and other related matters, including (i) maximizing the equity raised and fees to the general partner (ii) equity adjusters (iii) distribution of cash flow (iv) allocation of proceeds upon sale or refinancing (v) developer fee timing (vi) long-term control of the project by the general partner (vii) option, right-of-first-refusal, and protection of the long-term affordability of the Project (viii) GP guarantees and indemnity requirements (ix) and timing and thresholds for limited partner pay-ins.
• Assist in preparing and submitting required submittals to TCAC, including 10% Carryover Allocation, 180-day Readiness, Placed-in-Service request and receipt of 8609s (if applicable).
• Assist Fresno Housing Authority and legal counsel to negotiate the required legal documents for the syndication, which may include: limited partnership agreement, ground lease, general partner promissory notes and security agreements, option and/or put agreement, development and service fee agreements, and any general partner guarantee agreements.
• Assist in construction loan closing, capital contribution funding and permanent loan closing.
• Assist in reviewing the TCAC cost certification prepared by the project accountant and in calculation of equity adjusters and receipt of final equity pay-ins.
• Provide other financial services as requested.