Midwest Housing Equity Group, Inc. (MHEG) was created in 1993 to raise equity capital for affordable rental housing. MHEG has since expanded to invest in properties across Nebraska, Iowa, Kansas, and Oklahoma, creating over 6,700 affordable units. The document provides details on MHEG's mission, portfolio growth, organizational structure, investment process, and benefits for participating financial institutions.
This document provides an overview and corporate presentation for Cabo Drilling Corp. Key points include:
- Cabo is a mineral drilling services company operating over 100 drill rigs across North America, Central America, and Europe.
- Revenue declined after 2008 but has increased 50% from 2010 to $43.42 million in 2011, with a target of reaching the 2008 high of $58.65 million in 2012.
- The company aims to expand its global market presence and improve operational efficiencies while maintaining a strong focus on safety and community relations.
Champion Minerals Corporate Presentation March 30, 2012shosein2011
Champion Minerals Inc. is developing the next major iron ore mine in the Labrador Trough region of Canada. Its flagship Fire Lake North project is currently in the feasibility stage and has over 2.8 billion tonnes of iron mineral resources across four of its seventeen properties in the Fermont Quebec mining camp. A preliminary economic assessment indicates the Fire Lake North project can produce 8.7 million tonnes of concentrate annually for 25 years at a cost of $4 billion with a 41.5% internal rate of return. The region has established infrastructure for rail, power and ports to support future mining development as the area is expected to increase iron ore production to 200 million tonnes annually.
Champion Minerals Corporate Presentation February 2 2012shosein2011
Champion Minerals is developing the Fire Lake North iron ore project in Quebec, Canada. A preliminary economic assessment estimates the project can produce 8.7 million tonnes of concentrate annually for 25 years. The assessment indicates an after-tax net present value of $4 billion and internal rate of return of 41.5%. Champion also owns 17 other early stage iron ore projects in the region. Recent drilling at the Oil Can project intersected over 400 meters of iron mineralization, indicating exploration upside. The company aims to advance Fire Lake North through feasibility study and permitting to become Quebec's next major iron ore producer.
Champion Minerals Corporate Presentation Jan 16th 2012shosein2011
Champion Minerals is developing the Fire Lake North iron ore project in Quebec, Canada. A preliminary economic assessment estimates the project can produce 8.7 million tonnes of concentrate annually for 25 years. The assessment indicates an after-tax NPV of $4 billion and IRR of 41.5%. Recent drilling at the Oil Can project, located near Fire Lake North, intersected up to 401.5 metres of 30.7% iron mineralization. Champion Minerals has advanced iron ore projects in the established mining region of the Labrador Trough and aims to become a major new iron ore producer.
Champion Corporate Presentation - Feb 24, 2012shosein2011
Champion Minerals Inc. is developing the next major iron ore mine in the Labrador Trough region of Canada. The company's flagship project is the Fire Lake North development project, which has over 2.2 billion tonnes of iron mineral resources. A preliminary economic assessment for Fire Lake North indicates an after-tax net present value of $4 billion and an internal rate of return of 41.5% over a 40-year mine life producing an average of 8.7 million tonnes of concentrate annually. Champion also holds additional exploration properties in the region with potential for resource growth.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation summarizes the company's consistent growth and profitability, analyst forecasts, competitive position in the Canadian market, and leadership team. Key highlights include a 20% annual growth in loan originations and portfolio size, 11 consecutive quarters of record earnings, and analyst price targets of $10-12 per share.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation discusses Carfinco's growing loan portfolio and revenues, increasing earnings per share, and impressive return on equity. Key highlights include a loan portfolio that has grown to $172.5 million, annualized revenues of $67.1 million, quarterly earnings per share of $0.19, and an annualized return on equity of 79.4%. The analysts cited have target share prices ranging from $10 to $12 and view Carfinco positively.
This document provides an overview and corporate presentation for Cabo Drilling Corp. Key points include:
- Cabo is a mineral drilling services company operating over 100 drill rigs across North America, Central America, and Europe.
- Revenue declined after 2008 but has increased 50% from 2010 to $43.42 million in 2011, with a target of reaching the 2008 high of $58.65 million in 2012.
- The company aims to expand its global market presence and improve operational efficiencies while maintaining a strong focus on safety and community relations.
Champion Minerals Corporate Presentation March 30, 2012shosein2011
Champion Minerals Inc. is developing the next major iron ore mine in the Labrador Trough region of Canada. Its flagship Fire Lake North project is currently in the feasibility stage and has over 2.8 billion tonnes of iron mineral resources across four of its seventeen properties in the Fermont Quebec mining camp. A preliminary economic assessment indicates the Fire Lake North project can produce 8.7 million tonnes of concentrate annually for 25 years at a cost of $4 billion with a 41.5% internal rate of return. The region has established infrastructure for rail, power and ports to support future mining development as the area is expected to increase iron ore production to 200 million tonnes annually.
Champion Minerals Corporate Presentation February 2 2012shosein2011
Champion Minerals is developing the Fire Lake North iron ore project in Quebec, Canada. A preliminary economic assessment estimates the project can produce 8.7 million tonnes of concentrate annually for 25 years. The assessment indicates an after-tax net present value of $4 billion and internal rate of return of 41.5%. Champion also owns 17 other early stage iron ore projects in the region. Recent drilling at the Oil Can project intersected over 400 meters of iron mineralization, indicating exploration upside. The company aims to advance Fire Lake North through feasibility study and permitting to become Quebec's next major iron ore producer.
Champion Minerals Corporate Presentation Jan 16th 2012shosein2011
Champion Minerals is developing the Fire Lake North iron ore project in Quebec, Canada. A preliminary economic assessment estimates the project can produce 8.7 million tonnes of concentrate annually for 25 years. The assessment indicates an after-tax NPV of $4 billion and IRR of 41.5%. Recent drilling at the Oil Can project, located near Fire Lake North, intersected up to 401.5 metres of 30.7% iron mineralization. Champion Minerals has advanced iron ore projects in the established mining region of the Labrador Trough and aims to become a major new iron ore producer.
Champion Corporate Presentation - Feb 24, 2012shosein2011
Champion Minerals Inc. is developing the next major iron ore mine in the Labrador Trough region of Canada. The company's flagship project is the Fire Lake North development project, which has over 2.2 billion tonnes of iron mineral resources. A preliminary economic assessment for Fire Lake North indicates an after-tax net present value of $4 billion and an internal rate of return of 41.5% over a 40-year mine life producing an average of 8.7 million tonnes of concentrate annually. Champion also holds additional exploration properties in the region with potential for resource growth.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation summarizes the company's consistent growth and profitability, analyst forecasts, competitive position in the Canadian market, and leadership team. Key highlights include a 20% annual growth in loan originations and portfolio size, 11 consecutive quarters of record earnings, and analyst price targets of $10-12 per share.
Carfinco Financial Group Inc. is an auto finance company that provides loans to non-prime borrowers. The presentation discusses Carfinco's growing loan portfolio and revenues, increasing earnings per share, and impressive return on equity. Key highlights include a loan portfolio that has grown to $172.5 million, annualized revenues of $67.1 million, quarterly earnings per share of $0.19, and an annualized return on equity of 79.4%. The analysts cited have target share prices ranging from $10 to $12 and view Carfinco positively.
Pre-Summit Workshop - New Markets Tax Credit Presentationkingdom1realty
What are New Markets Tax Credits?
First tax credit program to stimulate commercial investment in “low-income communities”
The program is administered by the US Treasury Department through a division call the CDFI Fund, in a unique public/private partnership with Community Development Entities (CDEs)
The document provides information about the Low Income Housing Tax Credit (LIHTC) program, including:
- It was established 28 years ago and has financed over 2.6 million affordable housing units, creating 95,000 jobs annually and raising $100 billion in equity capital.
- Each state receives tax credits based on its population that it awards competitively to affordable housing developments. Developers sell the credits to investors to raise equity capital.
- The program has been very successful, with a low foreclosure rate of 0.65%, and it creates safe, decent affordable housing while also stimulating local economies and job growth.
- However, the need for affordable housing still outpaces production, with a shortage of over 5
EE in Affordable Rental Housing Brief_FINALAlise Newman
This study analyzed energy usage data from 15 low-income housing tax credit properties in Virginia to evaluate the impact of energy efficient design and construction. It found that apartments built to higher energy standards used 17% less energy than estimated. Residents saved an average of $648 per year on electricity bills. With over 13,000 such units certified in Virginia since 2007, total annual savings amount to over $8 million. However, resident surveys showed opportunities for further savings through better education on efficient energy behaviors.
The presentation summarized the District of Columbia's approach to affordable and mixed-income housing. It discussed defining affordable housing, population growth driving the need for more units, tools used to finance development like tax incentives and the Housing Production Trust Fund, and innovative programs promoting mixed-use development and tenant ownership. Challenges included slow delivery of inclusionary zoning units due to the economy and lack of staff to monitor affordability requirements. Moving forward, the mayor committed $287 million in additional funding with a goal of producing 10,000 affordable units by 2020.
The document summarizes a request for information from developers interested in an affordable housing development in College Station, Texas. It provides background on housing needs, current rental market conditions, and proposals received. One proposal, the Huntington at College Station, a 148-unit mixed-income elderly development, is discussed in detail. The developer, MGroup Holdings, is seeking city support for their competitive 9% housing tax credit application to the state. Staff recommends the city adopt a resolution of support and provide $100,000 in funding.
The Oklahoma Affordable Housing Act of 2014 established a state low-income housing tax credit to encourage the development and preservation of affordable rental housing. The tax credit is capped at $4 million annually and allocated by the Oklahoma Housing Finance Agency. To receive the credit, qualified projects must reserve federal low-income housing tax credits and be located in counties with populations under 150,000. The Act aims to increase the availability of affordable rental units while being reviewed every five years to ensure effectiveness.
The document provides background on the Affordable Housing Tax Credit program and discusses legislative changes that have impacted the program. It describes how the Housing and Economic Recovery Act of 2008 and American Recovery and Reinvestment Act of 2009 increased tax credits and other funding to boost affordable housing development during the economic downturn. It also outlines how Midwest Housing Equity Group invests in low-income housing tax credit projects to raise equity for development.
This document is a 16-page spreadsheet created in 1994 by William E. Bryant, CPA for projecting cash flows and valuations for low income housing tax credit developments. It includes assumptions, cash flow projections for 30 years, projected costs and tax credits, capital accounts, balance sheets, and graphs. It provides an example for clients to review and understand Bryant's analysis for these types of real estate projects.
Wha is the Low-Income Housing Tax Credit Program in ArizonaCharles Lotzar
The Low-Income Housing Tax credit program is a federal tax credit program that was created by the Tax Reform Act of 1986. Details about the Low-Income Housing Tax Credit Program (LIHTC) can be found in the Internal Revenue Code (IRC), Section 42.Learn more about low-income housing tax credit program in this presentation.
This document summarizes information presented by David Kunhardt on affordable housing in San Rafael, California. It discusses the housing continuum from homeownership to supportive housing solutions. It provides data on income levels and housing costs. It also outlines various federal housing programs and subsidies over time. Additionally, it highlights how the Low Income Housing Tax Credit program works to incentivize private investment in affordable rental housing. The document emphasizes that affordable housing benefits communities and outlines actions that can be taken to support more housing choices in Marin County.
General introductory information regarding Midwest Housing and the Low Income Housing Tax Credit. Information regarding using the Low Income Housing Tax Credit to assist in meeting CRA requirements.
Example of Low Income Housing Tax StructureWilliam Bryant
Organizational Chart showing the Tax Structure of the Entities in a Limited Partnership. Note the percentage of Ownership for the Limited Partner that is acquiring the Flow-Thru of the Low-Income Housing Tax Credits.
Ivan Kaufman gives insight on the Low Income Housing Tax Credit Program (LIHTC), including when it was founded, what it's main objective is, how it's administered, who is eligible to apply, and its reduction on taxes.
Low Income Housing Tax Credit Funds Investment Opportunities For BanksRod Medallion
This document discusses low-income housing tax credit funds as investment opportunities for banks. It provides biographies of speakers at an event on this topic, including the Comptroller of the Currency, representatives from the OCC, CAHEC, and Ernst & Young. The presentation covers how housing tax credits differ from tax deductions, reasons to invest in housing tax credits, typical housing tax credit investors, methods of fund investing, benefits of fund investing, CAHEC's funds and portfolio, how to evaluate fund managers and funds, how housing tax credits are calculated, and underwriting and pricing considerations.
The document summarizes changes to Connecticut's Low-Income Housing Tax Credit (LIHTC) program for 2015, including amendments to the Qualified Allocation Plan and procedures. Key points include $50 million available in tax credits, priorities for supportive housing and mixed-income developments, new scoring criteria, application deadlines in November 2015, and guidance on underwriting, construction requirements, and contacts for technical assistance.
Public Private Partnerships (Ppp) And Affordable Housing By David HoickaDavid Hoicka
Public Private Partnerships (PPP) and Affordable Housing by David Hoicka. Review of PPP as a £60 billion, $90 billion industry and its application to Affordable Housing
National Bank of Pakistan is the largest commercial bank in Pakistan with over 1,254 branches. It provides various commercial banking and financial services to individuals, corporations, and the government. NBP's business portfolio includes corporate investment banking, retail banking, agricultural financing, and treasury services. The bank faces some challenges like low internal controls, outdated organizational culture, and uneven work distribution. However, it maintains a strong position due to its large size, network across Pakistan, and role as an agent of the central bank.
The FCEDC 2011 Annual Report summarizes the organization's activities and accomplishments for the year. It discusses the opening of The Center for Enterprise Development business accelerator, recognition from IEDC as a high-performing organization, transition of leadership with Brenda Hicks-Sorensen accepting a new position and completion of the strategic plan. It also highlights business success stories like the expansion of Basic American Medical Products and the opening of Market Fresh Food Center in Waupun.
Fidelity National Information Services held an investor day on May 28, 2008 to discuss strategic initiatives and the planned spin-off of its Lender Processing Services segment. The presentation discussed the rationale for separating LPS, including that they have distinct businesses, limited ability to leverage each other, and competing investment needs. A timeline for the spin-off was also presented, with an estimated effective date of July 1.
Stornoway Presentation at the 2012 RBC Diamond Conference (w/ Appendix)Viral Network Inc
July 22, 2012: Corporate Presentation
Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Quebec’s first diamond mine. Stornoway also maintains an active diamond exploration program with both advanced and grassroots programs in the most prospective regions of Canada. Stornoway is a growth oriented company with a world class asset, in one of the world’s best mining jurisdictions, in one of the world’s great mining businesses.
Pre-Summit Workshop - New Markets Tax Credit Presentationkingdom1realty
What are New Markets Tax Credits?
First tax credit program to stimulate commercial investment in “low-income communities”
The program is administered by the US Treasury Department through a division call the CDFI Fund, in a unique public/private partnership with Community Development Entities (CDEs)
The document provides information about the Low Income Housing Tax Credit (LIHTC) program, including:
- It was established 28 years ago and has financed over 2.6 million affordable housing units, creating 95,000 jobs annually and raising $100 billion in equity capital.
- Each state receives tax credits based on its population that it awards competitively to affordable housing developments. Developers sell the credits to investors to raise equity capital.
- The program has been very successful, with a low foreclosure rate of 0.65%, and it creates safe, decent affordable housing while also stimulating local economies and job growth.
- However, the need for affordable housing still outpaces production, with a shortage of over 5
EE in Affordable Rental Housing Brief_FINALAlise Newman
This study analyzed energy usage data from 15 low-income housing tax credit properties in Virginia to evaluate the impact of energy efficient design and construction. It found that apartments built to higher energy standards used 17% less energy than estimated. Residents saved an average of $648 per year on electricity bills. With over 13,000 such units certified in Virginia since 2007, total annual savings amount to over $8 million. However, resident surveys showed opportunities for further savings through better education on efficient energy behaviors.
The presentation summarized the District of Columbia's approach to affordable and mixed-income housing. It discussed defining affordable housing, population growth driving the need for more units, tools used to finance development like tax incentives and the Housing Production Trust Fund, and innovative programs promoting mixed-use development and tenant ownership. Challenges included slow delivery of inclusionary zoning units due to the economy and lack of staff to monitor affordability requirements. Moving forward, the mayor committed $287 million in additional funding with a goal of producing 10,000 affordable units by 2020.
The document summarizes a request for information from developers interested in an affordable housing development in College Station, Texas. It provides background on housing needs, current rental market conditions, and proposals received. One proposal, the Huntington at College Station, a 148-unit mixed-income elderly development, is discussed in detail. The developer, MGroup Holdings, is seeking city support for their competitive 9% housing tax credit application to the state. Staff recommends the city adopt a resolution of support and provide $100,000 in funding.
The Oklahoma Affordable Housing Act of 2014 established a state low-income housing tax credit to encourage the development and preservation of affordable rental housing. The tax credit is capped at $4 million annually and allocated by the Oklahoma Housing Finance Agency. To receive the credit, qualified projects must reserve federal low-income housing tax credits and be located in counties with populations under 150,000. The Act aims to increase the availability of affordable rental units while being reviewed every five years to ensure effectiveness.
The document provides background on the Affordable Housing Tax Credit program and discusses legislative changes that have impacted the program. It describes how the Housing and Economic Recovery Act of 2008 and American Recovery and Reinvestment Act of 2009 increased tax credits and other funding to boost affordable housing development during the economic downturn. It also outlines how Midwest Housing Equity Group invests in low-income housing tax credit projects to raise equity for development.
This document is a 16-page spreadsheet created in 1994 by William E. Bryant, CPA for projecting cash flows and valuations for low income housing tax credit developments. It includes assumptions, cash flow projections for 30 years, projected costs and tax credits, capital accounts, balance sheets, and graphs. It provides an example for clients to review and understand Bryant's analysis for these types of real estate projects.
Wha is the Low-Income Housing Tax Credit Program in ArizonaCharles Lotzar
The Low-Income Housing Tax credit program is a federal tax credit program that was created by the Tax Reform Act of 1986. Details about the Low-Income Housing Tax Credit Program (LIHTC) can be found in the Internal Revenue Code (IRC), Section 42.Learn more about low-income housing tax credit program in this presentation.
This document summarizes information presented by David Kunhardt on affordable housing in San Rafael, California. It discusses the housing continuum from homeownership to supportive housing solutions. It provides data on income levels and housing costs. It also outlines various federal housing programs and subsidies over time. Additionally, it highlights how the Low Income Housing Tax Credit program works to incentivize private investment in affordable rental housing. The document emphasizes that affordable housing benefits communities and outlines actions that can be taken to support more housing choices in Marin County.
General introductory information regarding Midwest Housing and the Low Income Housing Tax Credit. Information regarding using the Low Income Housing Tax Credit to assist in meeting CRA requirements.
Example of Low Income Housing Tax StructureWilliam Bryant
Organizational Chart showing the Tax Structure of the Entities in a Limited Partnership. Note the percentage of Ownership for the Limited Partner that is acquiring the Flow-Thru of the Low-Income Housing Tax Credits.
Ivan Kaufman gives insight on the Low Income Housing Tax Credit Program (LIHTC), including when it was founded, what it's main objective is, how it's administered, who is eligible to apply, and its reduction on taxes.
Low Income Housing Tax Credit Funds Investment Opportunities For BanksRod Medallion
This document discusses low-income housing tax credit funds as investment opportunities for banks. It provides biographies of speakers at an event on this topic, including the Comptroller of the Currency, representatives from the OCC, CAHEC, and Ernst & Young. The presentation covers how housing tax credits differ from tax deductions, reasons to invest in housing tax credits, typical housing tax credit investors, methods of fund investing, benefits of fund investing, CAHEC's funds and portfolio, how to evaluate fund managers and funds, how housing tax credits are calculated, and underwriting and pricing considerations.
The document summarizes changes to Connecticut's Low-Income Housing Tax Credit (LIHTC) program for 2015, including amendments to the Qualified Allocation Plan and procedures. Key points include $50 million available in tax credits, priorities for supportive housing and mixed-income developments, new scoring criteria, application deadlines in November 2015, and guidance on underwriting, construction requirements, and contacts for technical assistance.
Public Private Partnerships (Ppp) And Affordable Housing By David HoickaDavid Hoicka
Public Private Partnerships (PPP) and Affordable Housing by David Hoicka. Review of PPP as a £60 billion, $90 billion industry and its application to Affordable Housing
National Bank of Pakistan is the largest commercial bank in Pakistan with over 1,254 branches. It provides various commercial banking and financial services to individuals, corporations, and the government. NBP's business portfolio includes corporate investment banking, retail banking, agricultural financing, and treasury services. The bank faces some challenges like low internal controls, outdated organizational culture, and uneven work distribution. However, it maintains a strong position due to its large size, network across Pakistan, and role as an agent of the central bank.
The FCEDC 2011 Annual Report summarizes the organization's activities and accomplishments for the year. It discusses the opening of The Center for Enterprise Development business accelerator, recognition from IEDC as a high-performing organization, transition of leadership with Brenda Hicks-Sorensen accepting a new position and completion of the strategic plan. It also highlights business success stories like the expansion of Basic American Medical Products and the opening of Market Fresh Food Center in Waupun.
Fidelity National Information Services held an investor day on May 28, 2008 to discuss strategic initiatives and the planned spin-off of its Lender Processing Services segment. The presentation discussed the rationale for separating LPS, including that they have distinct businesses, limited ability to leverage each other, and competing investment needs. A timeline for the spin-off was also presented, with an estimated effective date of July 1.
Stornoway Presentation at the 2012 RBC Diamond Conference (w/ Appendix)Viral Network Inc
July 22, 2012: Corporate Presentation
Stornoway is a leading Canadian diamond exploration and development company listed on the Toronto Stock Exchange under the symbol SWY. Our flagship asset is the 100% owned Renard Diamond Project, on track to becoming Quebec’s first diamond mine. Stornoway also maintains an active diamond exploration program with both advanced and grassroots programs in the most prospective regions of Canada. Stornoway is a growth oriented company with a world class asset, in one of the world’s best mining jurisdictions, in one of the world’s great mining businesses.
Cambridge Realty Capital Companies CEO Jeff Davis speaks at the Wisconsin Assisted Living
CEO Roundtable Discussions.
Follow him on Twitter: @jdaviscambridge
FCEDC assisted several businesses in 2010, including:
- Inter-Quest, a computer company that opened a new location in Fond du Lac with guidance from FCEDC on writing a business plan and identifying potential funding sources.
- Bootbiz.com/JGear, an online retailer of work boots that expanded its warehouse and opened a retail location with assistance from FCEDC on finalizing plans, finding space, and providing research.
- Integrity Saw & Tool, which Paul Reetz purchased from the previous owner with gap financing from FCEDC that allowed the business to remain local when other buyers wanted to relocate jobs out of the area.
The Ottawa County Improvement Corporation (OCIC) Business Plan outlines four key areas of focus: business retention and expansion, new business attraction, marketing, and professional/personal development. For business retention and expansion, the plan discusses implementing an economic gardening initiative in partnership with Sandusky County and maintaining relationships with local businesses. New business attraction efforts include participating in trade shows and maintaining an inventory of available land and buildings. The marketing section emphasizes adopting the state's branding strategy. The plan also stresses the importance of professional development for staff and board members.
12th Annual Canadian Private Equity SummitGied Hermsen
Building on the success of the past 11 years, the 12th Annual Canadian Summit Private Equity will provide you with the latest insights in Private Equity in North America. This event is an excellent opportunity to hear from industry leaders and a terrific opportunity for you to network with your peers. Mark your calendar for this must attend event!
Bank of America Corporation acquires Merrill Lynch & Co., Inc. PresentationQuarterlyEarningsReports3
This document summarizes the proposed merger between Bank of America and Merrill Lynch to create the premier financial services company. Some key points:
- Ken Lewis of Bank of America and John Thain of Merrill Lynch will lead the combined company.
- The merger combines Bank of America's retail banking franchise with Merrill Lynch's leading wealth management and investment banking businesses.
- The deal will diversify revenue streams and significantly enhance Bank of America's investment banking capabilities.
- Merrill Lynch brings over 20,000 financial advisors and $2.5 trillion in client assets to strengthen Bank of America's wealth management business.
This document provides information from Penn West Energy Trust's annual general meeting on June 8, 2010. It discusses Penn West's discovered petroleum initially-in-place volumes, forward-looking statements, and references to non-GAAP terms. The presentation focuses on restoring financial strength, emphasizing corporate responsibility, strengthening the management team, and prospects in key play areas like the Peace River and Cardium formations.
Forbes & Manhattan is a leading private merchant bank focused on building resource companies. It has a successful track record of identifying high quality assets and advancing them from discovery to production using a world-class team. Some of its past successes include growing Consolidated Thompson Iron Mines from $1 million to $4.9 billion at sale and turning around Avion Gold Corp's operations in Mali for significant value growth. The company focuses on disciplined investment and technical excellence to deliver superior returns for shareholders.
Secrets of Storytelling by Candace KleinGrow America
The document provides an overview of the 5-minute pitch for startups seeking funding. It outlines the key topics investors look for, including the products/services, market, sales strategy, management team, intellectual property, finances, and capital needs. The document also warns of common pitfalls to avoid, such as having no exit plan or unrealistic projections. An example pitch is then provided for a peer-to-peer commercial lending platform called SoMoLend, covering its market opportunity, management team, financial projections, capital raised and milestones.
This document summarizes an advisory board meeting to create an investor-driven agenda. It thanks the advisory board members for their time and input. It then provides an agenda for the two-day meeting, which includes panels on the global economy, the state of the hedge fund industry, best practices for risk management, and achieving non-correlated returns. The agenda also lists the panelists and moderators for each session.
The document provides an overview of Petaquilla Minerals Ltd., a gold mining company operating in Panama. Key points include:
1) Petaquilla Minerals reached commercial gold production in January 2010 and has been producing around 6,000 ounces of gold per month.
2) The company signed a $45 million prepaid gold purchase agreement with Deutsche Bank to deliver over 68,000 ounces of gold over 5 years.
3) Petaquilla Minerals owns and operates the producing Petaquilla gold mine in Panama along with exploration properties, and is developing infrastructure projects through its subsidiary Panama Development of Infrastructure.
Forbes & Manhattan is a leading private merchant bank focused on building resource companies globally. It has a successful track record of identifying high quality assets and advancing them from discovery to production. The company focuses on mining, energy, agriculture, and related sectors. It takes a disciplined approach to investments and provides strong management to build up assets. This has resulted in excellent returns, as shown through case studies of companies it founded and developed that achieved multibillion dollar market valuations.
This document provides an overview of Forbes & Manhattan, a leading private merchant bank focused on building resource companies. It discusses the company's business model, which involves identifying high quality resource assets and advancing them from discovery to production using a team of technical and financial professionals. Examples are given of past successful projects, such as developing an iron ore mine in Canada that was later sold for $4.9 billion, generating enormous returns. Contact information is provided for those interested in learning more or submitting potential investment opportunities.
Danny Moore is an entrepreneur and investor from Northern Ireland. He founded Lough Shore Investments after successfully growing and selling his previous company, Wombat, which was acquired by NYSE. Lough Shore aims to invest in and partner with high potential management teams to help them build great businesses and exit or IPO within 10 years. Moore discusses his background and experience with Wombat, the Northern Ireland business landscape, and provides advice to founders about fundraising, growth, and patience.
Forbes & Manhattan is a leading private merchant bank focused on building resource companies. It has a successful track record of identifying high quality assets and advancing them from discovery to production. The company uses a disciplined investment approach and builds assets through a world-class team with expertise in mining, energy, agriculture, and finance. It has delivered excellent returns for shareholders through building and exiting investments in natural resource companies.
Forbes & Manhattan is a leading private merchant bank focused on building resource companies. It has a successful track record of identifying high quality assets and advancing them from discovery to production. The company uses a disciplined investment approach and builds assets through a world-class team with expertise in mining, energy, agriculture, and finance. It has delivered excellent returns for shareholders through developing projects on time and on budget.
Similar to Introduction to Low Income Housing Tax Credits & MHEG (20)
Introduction to Low Income Housing Tax Credits & MHEG
1. Jim Rieker
President & Chief Executive Officer
Andrea Frymire
Executive Vice President
Oklahoma
Okl h
2. OUR MISSION & OBJECTIVE
Midwest Housing Equity Group, Inc. (MHEG) was created in 1993 under the
g q y p ( )
direction of then Governor Ben Nelson. The objective was to raise equity capital to
invest into affordable rental housing throughout Nebraska. MHEG later expanded,
starting in 2000, into Kansas, Iowa and Oklahoma. Our mission today:
Changing lives for a better tomorrow
by promoting the development and sustainability
of quality affordable housing.
housing.
We look for quality affordable properties that meet our mission and standards.
Important Fact:
Dollars raised in Oklahoma,
stay in Oklahoma!
2
3. OUR DEDICATION AND SUCCESS
TO DATE, MHEG HAS:
,
- raised over $570 million in equity
- developed over 240 projects in rural, suburban and urban communities
- created and renovated over 6,700 units of affordable rental housing
2009 HIGHLIGHTS:
- Closed $40 million in equity (13 deals) to date, with $49 million in pending deals for 2010
- Raised $41 million in equity
- $15 million in corporate organizational reserves
Our developments range from 6 to over 200 units and include:
- single family homes
- multi-unit and multi-building complexes
- duplexes
- hi t i l renovations
historical ti
- specialty needs developments: elderly, assisted living, transitional
homeless facilities, and developmentally disabled residents
3
4. MHEG PORTFOLIO
MHEG TOTALS NEBRASKA
- 29 Funds - 14 Funds
- $582 million raised - $292 million raised
- 247 projects closed - 131 projects closed
- 6,748
6 748 units created - 3,136
3 136 units created
IOWA OKLAHOMA
- 5 Funds - 3 Funds
- $105 million raised - $72 million raised
- 38 projects closed - 20 projects closed
- 1,347 units created - 864 total units created
KANSAS
- 7 Funds
- $113 million raised
- 58 projects closed
- 1,401 units created
4
5. EQUITY RAISED & PORTFOLIO GROWTH CHART
* As of 1/15/2010
Total Equit Raised i n Millions
Total Units Cre ated
ty
5
6. OKLAHOMA PORTFOLIO
OEF I L.P.
I, L P
- $25.81 million raised*
- 13 projects closed
- 564 units created
OEF II, L.P.
- $40 million raised
- 7 projects closed
- 300 units created
OF III, L.P.
III L P
- currently open
* Equity raised total also includes side-by-side investments or direct investments
6
7. HOUSING UNITS BY COUNTY – OKLAHOMA
Total Housing Units in OK 864
Type of Units
Multifamily
Senior
Single Family
Special Needs
Transitional 7
8. ORGANIZATIONAL CHART
MHEG Board
of Directors
Audit / Investment
President/CEO Committee
Iowa Operations
CFO/COO
& Investment
Committee
Executive Vice Kansas Operations
Accounting President(s) of
( ) & Investment
Department State Operations Committee
Development & Oklahoma Operations
Asset Management Underwriting & Investment
Department Department Committee
Information
Management Due Diligence
Department Department
IT Department
MHEG has 30 full-time employees and 2 part-
Compliance
Department
time employees with offices in Iowa, Kansas,
Nebraska d Oklahoma.
N b k and Okl h
*as of 1/2010
8
9. BOARD OF DIRECTORS
Sister Marilyn Ross Richard Schenck Stephen Bodner David Fisher Dick Hoiekvam
Chairperson Vice Chairperson
U.S. Bank p
FHLBank Topeka Deloitte & Touche
Holy Name Housing Wells Fargo CDC
Corporation
Rick Jackson Brad Krieger James Laphen Barry Sandstrom Jim Rieker
Capitol Federal Arvest TierOne Bank Home Federal Midwest Housing
Savings Bank Savings & Loan Equity Group
MHEG is governed by a Board of Directors with the President being responsible for the day-to-day operations.
9
10. OPERATIONS & INVESTMENT COMMITTEE
Roger Beverage Dennis Brand Brad Krieger
Oklahoma Bankers Association BancFirst Arvest
Kenyon Morgan Bob Spinks Jim Rieker
Prime Time Environments, LLC United Way of Oklahoma City Midwest Housing
Equity Group
q y p
The Operations and Investment Committee is an appointed sub-committee of the MHEG Board
with the Executive Vice President being responsible for the day-to-day operations of Oklahoma. 10
11. BEHIND THE SCENES: BENEFITS MHEG PROVIDES
- Underwriting-financial feasibility
- Identifying sources of potential financing
- Assist with/Reviewing applications for funding
- Compliance with Section 42 and other financing sources
- Accounting for construction/rehab period and then for ongoing operations
- Preparation of carryover forms and cost certification
-A
Annual audit and t return preparation
l dit d tax t ti
- Partnership with MDHF, a CDFI set up to offer a variety of predevelopment loans and
permanent loans
- Training for development and management
11
12. CRA BENEFITS FOR BANK PARTICIPANTS
- Allows for CRA credit regardless of project locations as long as it is within the
g g
fund’s trade territory (i.e. a Tulsa bank can receive credit for a project in Oklahoma
City)*
- Regulators do vary on the scope of inclusion. Please check with your Regulator for their interpretation.
- See OCC report dated 2/08 – further adopted by FDIC and Federal Reserves
- By purchasing tax credits in a MHEG fund banks can potentially fulfill the
Investment portion of the CRA exam, typically the most difficult portion for most
banks to meet, as well as opportunities to meet the lending and service tests.
- All documentation that the Examiners require is provided by MHEG.
12
13. BENEFITS TO EACH STATE
- Capacity Building: In addition to working with established developers and sponsors,
g
MHEG also works with rural housing authorities, Community Housing Development
Organization’s, Community Action Program’s and other small developers that are
developing tax credit properties in their own communities.
- Housing Where it’s Needed the Most: We fund projects that are really needed but are
sometimes more expensive and difficult to put together, such as small rural properties,
inner city, i fill and special needs projects
i it infill d i l d j t
- No Extra Risk: By investing in smaller properties with local developers, we do not accept
any more risk than national syndicators. In fact we are able to spend much more time on
an investment and mitigate our risk.
MHEG Funds are right in your back yard
and are strictly state specific!
13
14. UNDERWRITING GUIDELINES
- Geographical location
- Size of investment (% of total of Fund)
- Guarantees
- Reserve accounts
- Structure of debt to property
- Experience and strength of development team, general partner and property manager
- Project site-zoning, stability, accessibility
- Market Study/Analysis
- Title and Survey
- Insurance: property, contractor (insurance and bonds)
-QQuarterly risk rating f lif of i
l i k i for life f investment
- Environmental studies: Phase I mandatory, Phase II if needed
- Reasonable and substantiated operating assumptions: rent levels, vacancy factors,
expense estimates, level of must pay debt, and lease-up period
estimates debt lease up
- Construction parameters and oversight
- Rent Level Analysis
- Operating Expense Comparison and Analysis to MHEG’s extensive database
MHEG s
14
15. TAX CREDIT CALCULATION
$1,000,000 Total Project Cost
$ 200,000 Project Cost Not Eligible for Credits
$ 800,000 Eligible Basis for C ed ts
g b e as s o Credits*
x 9% Tax Credit Percentage
$ 72,000 Credits Received/year
x 10 Years credits are received
$ 720,000 Credits received
x .70 Price paid for credits
$ 504,000 Equity into project from MHEG
Allows for low debt on project enabling developers
to keep rents affordable
* States may allow 130% basis boost (not shown here)
here).
15
16. TYPICAL DEAL STRUCTURE
Tax Credit Equity
Soft Debt / GP Equity
55% (70% with basis 25%*
boost)
Hard Debt
< 20%
* Funded By:
F d dB
AHP
HOME
TCAP
Exchange
Developer Fee
Various Contributions
Certain Grants
16
17. WHAT IS THE REAL RISK?
- Ownership risks of multifamily low-income rental housing p
p y g pools
Mitigated by MHEG’s investment policies, ongoing management and financial
oversight, as well as MHEG’s financial strength
- Compliance risk
Mitigated by MHEG’s continuing compliance practices and oversight
- Changes in current law
Highly improbable any law change would affect any current investments
- Reputation Risk
We take “the high road”, we know that we represent our fund participants who are
financial pillars of th i communities
fi i l ill f their iti
17
18. MHEG FUND PARTICIPANTS vs. DIRECT PARTICIPANTS
WHAT ARE THE ADVANTAGES:
- Pool of projects diversifies risk
- Structured for strong reserves at the project and fund level, with additional
reserves at MHEG
- Disciplined and conservative underwriting guidelines
- Investment decisions lie with investors
- MHEG professional staff manage all aspects of investment
- Comprehensive quarterly reporting to fund participants – available in electronic
format
- Independent financial audits performed at the project and fund level
- Legal documents uniform and comprehensive
- Delayed investment pay-in schedule increases yield
- MHEG tax credit purchasers could take minimal construction risk
- MHEG Fund participants do not need an expert tax credit specialist on staff,
MHEG’s staff provides tax credit expertise
18
19. PROJECT SELECTION PROCESS
After a developer presents a potential deal to MHEG, the project goes through several
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steps to ensure the deal meets our standards and approval.
- Development/Underwriting & Due Diligence Departments review project
e e op e t/U de t g ue ge ce epa t e ts e e p oject
- SCRUB Meeting: internal loan and project committee examine potential project
- Technical Review: technical advisors, tax lawyers & accountants assess potential project
- F d Participant Approval
Fund P ti i tA l
- MHEG Board / Investment Committee approval
19
20. WHAT DO YOU GET IN RETURN???
- Optimal Tax Planning Strategy
- 10 full years of federal tax credits
- 15 full years of depreciation and other passive deductions
- Periodic Write-down of Paid in Capital
- CRA Investment Credit, if applicable
- Marketing and PR opportunities
- Stabilizing and Investing in your local communities
- Stable proven track record of a performing asset class
- Accurately forecasted tax benefits
- Quarterly Reporting and Asset Management update
20
21. POINTS TO CONSIDER
- MHEG does not want the capital you need for normal operations.
- The dollars you are considering placing with MHEG are actually dollars you owe to the IRS as
a result of your successful operations.
- You receive no monetary return with your payment to the IRS.
- You will receive an above market return and a CRA Investment Credit, if applicable, when you
purchase tax credits with MHEG.
- Your participation benefits the community and you receive a monetary return without
jeopardizing your normal business capital
capital.
21
22. WHAT TO EXPECT IN THE FUTURE
- At the end of the 15-year tax credit compliance period, our goal is to exit the partnership in
a manner that allows the property to continue to comply with the states extended
compliance period.
- Th general partner or managing member i most cases h a right of fi t
The l t i b in t has i ht f first
refusal to purchase our interest for an amount stipulated in the IRS code.
- Since the project still has restricted rents it will not be able to refinance m ch additional
rents, ill much
debt. Our exit usually does not generate significant cash or create a tax event. Therefore,
we do not include any residual value in our analysis of return to investors.
(note: this narrative is greatly oversimplified, but does represent the results of a typical exit)
22
23. SHARE OPTIONS
Deferred Pay-In over 6 years (Class “A” Shares)
- By choosing the deferred pay-in method you will pay in a smaller portion of the capital
commitment as each project closes and then pay the remainder in over the remaining
term of the capital contribution
contribution.
BIG ADVANTAGE – your new quarterly tax estimate plus capital contribution payment
could be less than your old quarterly tax estimates, which equates to little or no cash
flow impact and higher internal rate of return (IRR).
One Time Pay-In (Class “B” Shares)
- Capital is called on a pro-rate share of the capital commitment as each project is
closed , with the total capital commitment paid-in within approximately 18-24 months.
23
24. MHEG ASSOCIATIONS:
The National Association of State and Local Equity Funds (NASLEF) is a
professional, nonprofit association formed in 1994 to promote the efficient
management of state and local equity funds.
- All State and Local Equity Funds belong (currently 16 members, representing 41 states)
- Members do not compete with each other, each represents certain states
- Members share information from how they operate to what they learn
- Collectively, NASLEF Members are one of the nation’s largest and leading tax credit
syndicators:
- have raised over $6.5 billion in equity
- invested in over 100,000 affordable housing units
- Many large, national tax credit purchasers prefer NASLEF members over other national
syndicators because of:
- local presence
- stronger portfolio
- better fund oversight
MHEG IS A CHARTER MEMBER OF NASLEF! 24
25. Visit our website at
www.mheginc.com
h i
to learn more about MHEG
and view our properties.