The Vendor is required to provide the equity investor and debt services for affordable housing development in association city, and private development firms.
- Tax Equity Investors in an executable LOI format please provide:
• Tax Credit Pricing
• An Estimated Equity Pay-In and Development Fee Schedule and Conditions
• Reserve Requirements and conditions for release
• Managing Member and Guarantor requirements or obligations
• Amount and description of any Investor or Transaction Fees
• Repurchase Terms
• Adjuster Provisions
• Proposed Distribution of Cash Flow
• Ongoing fees during compliance period to the partnership, if any
• Repurchase Requirements/Purchase Option/Assignment Terms
• Proposed Developer Fee Schedule
Construction Lenders in an executable LOI format please provide:
• Schedule and description of fees and transaction costs expected to be paid by the
Borrower and Managing Member
• Interest Rate spread and index
• Initial term and extension options
• Contingency requirements
• Insurance requirements
Permanent Lenders in an executable LOI format please provide:
• Schedule and description of fees and transaction costs expected to be paid by the
Borrower and Managing Member (including but not limited to origination, legal fees, or other closing costs)
• Interest rate spread and index
• Repayment Term and Amortization Term
• Reserve requirements and conditions for release
• Insurance requirements