TAX CREDITs and REAL ESTATE DEVELOPMENT CONSULTANTS.
Application and Financial Closing Services
Assist with coordination of local development team (architect, construction manager, development accountant, finance, management, supportive services, and legal) and provide assistance to Sponsor in preparing and submitting applications for all construction and permanent financing required for completion of the Project(s). Application and Financial Closing Services provided by 3-wB Group include:
- Construction and permanent financing to be provided with the term sheets for Construction/Permanent Loan Program and;
- An allocation of tax exempt bonds from the California Debt Limit Allocation Committee;
- Provide assistance to Sponsor for conduit application, TEFRA application and hearing for all tax-exempt bond Project(s).
- An allocation of Low Income Housing Tax Credits from the California Tax Credit Allocation Committee;
- Tax credit equity contributed by a limited partner investor to be selected and
- Pursuit of county and/or city agency potential “soft’ monies.
- Use of seller note funds, if available, for preserve/renovate the Project(s).
- With Owner approval, inform local and state representatives within projects location of projects community contributions and development status.
- Provide assistant to Sponsor with their Board, if applicable, in generating resolutions for approval:
- Acquisition (preserve/renovate Project(s)),
- Financing Activity,
- Third Party Contracts,
- Authorization to Act as Developer and Guarantor, where applicable.
- Formation of LLC/LP
- Provide assistance to Sponsor with the attorney in forming the limited liability corporation(s) (LLCs) and tax credit limited partnership(s) (LP) .
- Prepare the Partner's Org Chart (include Ownership %, Titles and EINs).
- Participation in loan/financing presentations and negotiations with prospective lenders/investors.
- Financial Closing participation with Sponsor and approved financing sources for each element of the Project(s). Also, transferring of property to limited partnership along with obtaining the Welfare Exemption filing (after closing/transfer of assets).