SERVICES WE PROVIDE
Educating Tribal Councils and/or Housing Boards and Tribal Entity’s Housing staff on LIHTC program requirements to provide project buy-in and a general understanding of the program by all necessary Tribal entities.
Educating and involving the staff in the application process, allows the project will have a better chance of success.
Defining the Project with input from the Housing Board and Staff.
This includes discussing the Tribe’s need for the subject project as well as future projects. RTHawk takes a comprehensive approach to the housing and community needs the Tribe wishes to address.
After RTHawk establishes the Housing Authority’s Short and Long-Term Housing Plans, it will structure the Project(s), taking into consideration State Agency and/or other funding sources’ (such as ICDBG, AHP, or other) scoring criteria for a competitive application.
Preparing Financial Projections to include Sources and Uses.
The proposed projections will include:
Sources such as: Investors equity, Tribal contribution, other Gap Funding programs along with Uses such as: Construction costs, site costs, soft costs, Developer fees, Tax Credit fees, consulting fees, and other costs necessary for the successful completion of the LIHTC project.
Preparing Operating Projections that include the Income and Rent maximums associated with the project as well as Expenses and Replacement reserve requirements.
The Operating Projections will also include the Average Rent necessary for the project to sustain itself in the event that rental subsidies are not available.
Determining Project Timelines to include Deadlines and Estimated timelines related to the LIHTC project’s life.
Pre-application, application, reservation of credits, credit carryover, Due Diligence, Investor closing, Construction period, and the Lease-up period.
The Project Timelines will also include other dates and deadlines related to additional project funding sources in the event that those funds will be combined with the LIHTC project.
Ensuring that the Project is Feasible and that the Tribal entity has the Capacity to carry the Project forward to completion and operations.
A Development Project is time consuming and will be an expensive endeavor. It does not make sense to proceed unless all of the pieces are in place.