What we find ourselves explaining most often: how the programs actually size, where the gap comes from, and what decides a closing.
The private activity bond financing threshold for 4% LIHTC deals dropped from 50% to 25%. Here is how that changes bond sizing, basis and the gap.
Read →RAD moves public housing to a project based Section 8 contract. Here is what changes in the capital structure, the operating budget and the regulatory file.
Read →How the 221(d)(4) construction to permanent loan interacts with LIHTC equity, pay in schedules and the gap. What drives the loan amount and what delays closing.
Read →Credit equity and hard debt rarely cover an affordable deal. The gap sources are what close it, and they have their own calendars and conditions.
Read →Conversion from construction to permanent financing is where avoidable problems surface. The documents and tests to settle before the certificate of occupancy.
Read →A practical read on affordable housing capital stacks. Priority, pricing, control and what each layer actually wants from the deal.
Read →Lenders and investors underwrite the sponsor as closely as the pro forma. What a first time affordable housing sponsor can do to be financeable, and what to bring to the first meeting.
Read →The compliance period ends, the investor leaves and the property needs recapitalizing. The documents that govern that are signed at closing.
Read →Send the site, the subsidy you are pursuing and the number you think the gap is. We will tell you what we would do next.
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