UC Real Estate Professional Development: Financing ToolsThe Port
Financing tools workshop: an overview of new and bedrock tools of development finance, presented March 24, 2015 at University of Cincinnati Real Estate Center
by Susan E. Thomas, Port of Greater Cincinnati Development Authority and Matt Staarmann of Ross, Sinclaire and Associates
Fundamental Skills for Real Estate Development Professionals I. Financial An...Virtual ULI
This document provides an overview of the real estate development process and financial analysis techniques. It begins with an agenda for a training on fundamental skills for real estate professionals, including sessions on financial analysis, site selection, structuring deals, and project approvals. The document then covers various topics in financial analysis for real estate development projects, including financing phases and types, evaluation tools, the time value of money, risk and return calculations, and methods for calculating project value such as net present value, internal rate of return, and capitalization rate. It also discusses the capital stack of debt and equity used to finance development projects.
Fundamental Skills for Real Estate Development Professionals I. Site Selecti...Virtual ULI
This document provides an overview of a presentation on site selection and due diligence for real estate development projects. The presentation covers managing risk in the development process, determining maximum supported investment and residual land value, and the six key areas of focus for due diligence: site conditions, market analysis, project design, construction costs, entitlement process, and financial analysis. It emphasizes the importance of thorough due diligence upfront to understand a site, control costs and risks, and determine appropriate land acquisition terms.
Fundamental Skills for Real Estate Development Professionals I – Site Selecti...Virtual ULI
This document summarizes a presentation on site selection and due diligence for real estate development professionals. The presentation covers managing risk during site acquisition, determining the maximum supported investment and residual land value, and six areas of focus for due diligence. It emphasizes that the majority of a project's value is created during the pre-development phase through proper site selection, due diligence, and risk management.
Fundamental Skills for Real Estate Development Professionals II. Structuring ...Virtual ULI
The document discusses various techniques for structuring real estate deals to be profitable, as presented by Dr. Wayne Falbey. Some key techniques discussed include:
1. Using option contracts to control land while minimizing upfront costs.
2. Entering joint ventures where the landowner contributes land in exchange for equity, and the developer contributes expertise and financing.
3. Obtaining seller financing through purchase money mortgages which allow the buyer to make a smaller down payment and pay the seller directly over time.
The document provides details on how each technique works, their advantages, and tactical considerations for using them to acquire land and structure profitable deals.
As the markets for real estate usually remain stable in many areas of in the world, opportunities continue to exist for the development of real estate projects. This lecture is designed to analyze the real estate development process primarily from the perspective of the developer. The lecture concentrates on the development of a real estate project from its conceptual ideas until the operational start-up, and from the initiation of the concept designs until the project is defined.
The lecture examines most of the phases of the development process, from idea inception through studying the various available options for the use of the lands and estimating the projects' costs and income to determine the best and optimum commercial use of the lands. This includes an overview about the development of the project's financial feasibility of real estate development, which involves the identification and evaluation of critical assumptions related to the creation, construction, and operation of economically viable commercial real estate projects.
The lecture is introductory in scope and assumes attendants have little or no experience with the development process.
An understanding of the real estate development process benefits not only potential developers, but investors, lenders, builders, public sector participants, and end-users of the products as well.
This document summarizes an agenda for an EB-5 financing forum. It provides background on the EB-5 visa program, including its history, investment requirements, and the typical structure of EB-5 deals. EB-5 visas allow foreign nationals to obtain permanent residency by investing in job-creating US businesses. Typical EB-5 deals are arranged through regional centers and involve debt or preferred equity investments of $500k-$1M. Funds are released from escrow once certain approvals are received. Regional centers facilitate EB-5 investments and compliance, while project partners work with regional centers on fundraising and job creation requirements. The majority of EB-5 investors are high-net-worth individuals from China seeking education
UC Real Estate Professional Development: Financing ToolsThe Port
Financing tools workshop: an overview of new and bedrock tools of development finance, presented March 24, 2015 at University of Cincinnati Real Estate Center
by Susan E. Thomas, Port of Greater Cincinnati Development Authority and Matt Staarmann of Ross, Sinclaire and Associates
Fundamental Skills for Real Estate Development Professionals I. Financial An...Virtual ULI
This document provides an overview of the real estate development process and financial analysis techniques. It begins with an agenda for a training on fundamental skills for real estate professionals, including sessions on financial analysis, site selection, structuring deals, and project approvals. The document then covers various topics in financial analysis for real estate development projects, including financing phases and types, evaluation tools, the time value of money, risk and return calculations, and methods for calculating project value such as net present value, internal rate of return, and capitalization rate. It also discusses the capital stack of debt and equity used to finance development projects.
Fundamental Skills for Real Estate Development Professionals I. Site Selecti...Virtual ULI
This document provides an overview of a presentation on site selection and due diligence for real estate development projects. The presentation covers managing risk in the development process, determining maximum supported investment and residual land value, and the six key areas of focus for due diligence: site conditions, market analysis, project design, construction costs, entitlement process, and financial analysis. It emphasizes the importance of thorough due diligence upfront to understand a site, control costs and risks, and determine appropriate land acquisition terms.
Fundamental Skills for Real Estate Development Professionals I – Site Selecti...Virtual ULI
This document summarizes a presentation on site selection and due diligence for real estate development professionals. The presentation covers managing risk during site acquisition, determining the maximum supported investment and residual land value, and six areas of focus for due diligence. It emphasizes that the majority of a project's value is created during the pre-development phase through proper site selection, due diligence, and risk management.
Fundamental Skills for Real Estate Development Professionals II. Structuring ...Virtual ULI
The document discusses various techniques for structuring real estate deals to be profitable, as presented by Dr. Wayne Falbey. Some key techniques discussed include:
1. Using option contracts to control land while minimizing upfront costs.
2. Entering joint ventures where the landowner contributes land in exchange for equity, and the developer contributes expertise and financing.
3. Obtaining seller financing through purchase money mortgages which allow the buyer to make a smaller down payment and pay the seller directly over time.
The document provides details on how each technique works, their advantages, and tactical considerations for using them to acquire land and structure profitable deals.
As the markets for real estate usually remain stable in many areas of in the world, opportunities continue to exist for the development of real estate projects. This lecture is designed to analyze the real estate development process primarily from the perspective of the developer. The lecture concentrates on the development of a real estate project from its conceptual ideas until the operational start-up, and from the initiation of the concept designs until the project is defined.
The lecture examines most of the phases of the development process, from idea inception through studying the various available options for the use of the lands and estimating the projects' costs and income to determine the best and optimum commercial use of the lands. This includes an overview about the development of the project's financial feasibility of real estate development, which involves the identification and evaluation of critical assumptions related to the creation, construction, and operation of economically viable commercial real estate projects.
The lecture is introductory in scope and assumes attendants have little or no experience with the development process.
An understanding of the real estate development process benefits not only potential developers, but investors, lenders, builders, public sector participants, and end-users of the products as well.
This document summarizes an agenda for an EB-5 financing forum. It provides background on the EB-5 visa program, including its history, investment requirements, and the typical structure of EB-5 deals. EB-5 visas allow foreign nationals to obtain permanent residency by investing in job-creating US businesses. Typical EB-5 deals are arranged through regional centers and involve debt or preferred equity investments of $500k-$1M. Funds are released from escrow once certain approvals are received. Regional centers facilitate EB-5 investments and compliance, while project partners work with regional centers on fundraising and job creation requirements. The majority of EB-5 investors are high-net-worth individuals from China seeking education
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.
The document provides an overview of economic development financing, outlining the typical steps involved: 1) understanding the business and project, 2) assessing available private financing, 3) identifying any financing gaps, 4) leveraging various public sector programs to fill gaps, and 5) closing the deal. It describes different types of private financing sources and public sector programs like loans, loan guarantees, bonds, and tax incentives. The roles of organizations like JobsOhio, local governments, and regional partners in providing financing and incentives are also summarized.
The New Markets Tax Credit program provides tax credits to investors in community development entities to encourage investment in low-income communities. The tax credits total 39% of the investment amount over a 7 year period. Qualified low-income community investments must be in operating businesses or real estate projects located in qualified low-income census tracts. The structure often involves a CDE obtaining an investment and using the funds to provide financing to projects, with tax credits going to investors and benefits to borrowers in the form of below-market interest rates and partial loan forgiveness.
Otan Property Funds Management Ltd was established to capitalize on opportunities in the Western Australian property market. It has a retail AFSL license and will provide investors exposure to residential and commercial property developments and acquisitions primarily in Western Australia. Key types of developments include apartments, housing subdivisions, and commercial projects. Otan aims to maximize returns for investors using economic cycles while managing risk through strategies like pre-sales and non-recourse debt. It is backed by experienced directors and a partnership with Pindan Constructions. Current and upcoming Otan fund investments are outlined.
In this webinar, the speakers discuss the charter school facilities landscape and how to properly plan a facilities project. They touch on how to balance your team’s facility dreams with your budget and even share some pitfalls you can avoid so you can take away actionable insights on what considerations you need to make when planning a facility project for your school.
This document provides an overview of Triventus Consulting, a European wind power consulting firm. It discusses trends in the financing of wind power projects, particularly the increasing difficulty of obtaining financing in Europe. Specific challenges for developing wind projects in Nordic countries like Norway and Sweden are also examined, such as cold climates reducing production and increasing costs. The document emphasizes that only top-quality projects with strong cash flows, credible management, and a long-term commitment will be able to secure necessary financing.
The Essential Handbook For Raising Capital Part III & IV: Term Sheets, Due Di...Sankalp Forum
Investors analyze businesses through a rigorous due diligence process. This presentation explains how investment bankers go through business and legal & accounting due diligence before starting negotiations. It explains what entrepreneurs and startup companies should expect: extensive field visits, in depth evaluation of financial plans, and explains what goes into a Term Sheet.
Presented by leading social advisory firm Intellecap, this slide deck was prepared for Sankalp Forum. The Forum is an enabler of socially oriented early-stage businesses, and catalyzes investments, mentors and international networks to do so.
Read more about Sankalp at www.sankalpforum.com
New Opportunities in Property Assessed Clean Energy (PACE)Abby Johnson
PACE Financing is an innovative financial product where commercial building owners can upgrade their properties with energy efficiency and clean energy solutions with no money down for up to 20 years.
This document provides an overview of Virginia's capital outlay funding processes. It discusses the evolution of capital funding, the capital budget development process, the capital pool process, equipment funding requests, non-pool projects, maintenance reserve eligibility, capital leases, emergency projects, and ESCO projects. The capital pool process involves agencies submitting capital budget requests, BCOM reviewing costs, and the governor and legislature approving funding. Other types of capital projects like equipment and non-pool projects follow different processes.
A new approach to infrastructure financing in Colombiapc1619
Clemente del Valle, president of FDN, outlines Colombia's world-class infrastructure program which includes 40 projects worth USD 27 billion developing over 8,000 km of infrastructure. Corruption, inadequate infrastructure supply, and inefficient government bureaucracy are among the top problems for doing business in Colombia. FDN, Colombia's development bank, aims to mobilize USD 2.5 billion for infrastructure financing by the end of 2015 through financial products, regulatory changes, and pilot projects.
The basics of development financing for real estate development and businesses, from how banks make loan decisions to how SBA and other programs work to help create and retain jobs. Presented at the 2016 Ohio Basic Economic Development Course.
Capitalism has a long history of boom and bust, we have to continue to learn by every crisis. Two key problems arose especial in Mega Developments in the region with the soft economy and mix use / market shift, the first being most developments are designed for continuous construction rather than phased and the second most master plans could not be phased efficiently with sustainability issues pushes to the forefront. The Presentation focuses on Developers dilemmas and lessons learned and highlight some of the solutions including cost share and cost recovery mechanisms adopted through a project case study.
OEDA Infrastructure Puzzle Power Point 3-3-15David Robinson
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses techniques like loan loss reserves, subordinated debt, and performance incentives to enhance these products and attract private capital at lower costs. This allows more homeowners to adopt solar and transitions the market from relying on subsidies to sustainable financing.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses credit enhancements like loan loss reserves and subordinated debt to attract private capital at lower costs and enable more favorable financing terms that expand access to solar for homeowners.
Mark Lundine, Ohio Department of Development, presented this presentation at the Heritage Ohio Historic Tax Credit Workshop in Springfield, Ohio on May 6, 2011.
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTSiQHub
CCUS is critical to meeting net-zero goals by reducing emissions from hard-to-abate sectors and enabling negative emissions. Financing CCUS requires over 10x growth by 2030 but evolving business models, policy support, and revenue streams are helping scale adoption and projects. Key provisions in the Inflation Reduction Act expand and enhance the 45Q tax credit, lower qualifying thresholds, and allow direct pay to improve CCUS project financeability.
A Banking Perspective on Historic Tax Credits - Michael TaylorHeritage Ohio
Michael Taylor of PNC Bank discusses the banking perspective on historic tax credits at the Heritage Ohio Historic Tax Credit Workshop in Toledo, Ohio on March 25, 2011
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.
The document provides an overview of economic development financing, outlining the typical steps involved: 1) understanding the business and project, 2) assessing available private financing, 3) identifying any financing gaps, 4) leveraging various public sector programs to fill gaps, and 5) closing the deal. It describes different types of private financing sources and public sector programs like loans, loan guarantees, bonds, and tax incentives. The roles of organizations like JobsOhio, local governments, and regional partners in providing financing and incentives are also summarized.
The New Markets Tax Credit program provides tax credits to investors in community development entities to encourage investment in low-income communities. The tax credits total 39% of the investment amount over a 7 year period. Qualified low-income community investments must be in operating businesses or real estate projects located in qualified low-income census tracts. The structure often involves a CDE obtaining an investment and using the funds to provide financing to projects, with tax credits going to investors and benefits to borrowers in the form of below-market interest rates and partial loan forgiveness.
Otan Property Funds Management Ltd was established to capitalize on opportunities in the Western Australian property market. It has a retail AFSL license and will provide investors exposure to residential and commercial property developments and acquisitions primarily in Western Australia. Key types of developments include apartments, housing subdivisions, and commercial projects. Otan aims to maximize returns for investors using economic cycles while managing risk through strategies like pre-sales and non-recourse debt. It is backed by experienced directors and a partnership with Pindan Constructions. Current and upcoming Otan fund investments are outlined.
In this webinar, the speakers discuss the charter school facilities landscape and how to properly plan a facilities project. They touch on how to balance your team’s facility dreams with your budget and even share some pitfalls you can avoid so you can take away actionable insights on what considerations you need to make when planning a facility project for your school.
This document provides an overview of Triventus Consulting, a European wind power consulting firm. It discusses trends in the financing of wind power projects, particularly the increasing difficulty of obtaining financing in Europe. Specific challenges for developing wind projects in Nordic countries like Norway and Sweden are also examined, such as cold climates reducing production and increasing costs. The document emphasizes that only top-quality projects with strong cash flows, credible management, and a long-term commitment will be able to secure necessary financing.
The Essential Handbook For Raising Capital Part III & IV: Term Sheets, Due Di...Sankalp Forum
Investors analyze businesses through a rigorous due diligence process. This presentation explains how investment bankers go through business and legal & accounting due diligence before starting negotiations. It explains what entrepreneurs and startup companies should expect: extensive field visits, in depth evaluation of financial plans, and explains what goes into a Term Sheet.
Presented by leading social advisory firm Intellecap, this slide deck was prepared for Sankalp Forum. The Forum is an enabler of socially oriented early-stage businesses, and catalyzes investments, mentors and international networks to do so.
Read more about Sankalp at www.sankalpforum.com
New Opportunities in Property Assessed Clean Energy (PACE)Abby Johnson
PACE Financing is an innovative financial product where commercial building owners can upgrade their properties with energy efficiency and clean energy solutions with no money down for up to 20 years.
This document provides an overview of Virginia's capital outlay funding processes. It discusses the evolution of capital funding, the capital budget development process, the capital pool process, equipment funding requests, non-pool projects, maintenance reserve eligibility, capital leases, emergency projects, and ESCO projects. The capital pool process involves agencies submitting capital budget requests, BCOM reviewing costs, and the governor and legislature approving funding. Other types of capital projects like equipment and non-pool projects follow different processes.
A new approach to infrastructure financing in Colombiapc1619
Clemente del Valle, president of FDN, outlines Colombia's world-class infrastructure program which includes 40 projects worth USD 27 billion developing over 8,000 km of infrastructure. Corruption, inadequate infrastructure supply, and inefficient government bureaucracy are among the top problems for doing business in Colombia. FDN, Colombia's development bank, aims to mobilize USD 2.5 billion for infrastructure financing by the end of 2015 through financial products, regulatory changes, and pilot projects.
The basics of development financing for real estate development and businesses, from how banks make loan decisions to how SBA and other programs work to help create and retain jobs. Presented at the 2016 Ohio Basic Economic Development Course.
Capitalism has a long history of boom and bust, we have to continue to learn by every crisis. Two key problems arose especial in Mega Developments in the region with the soft economy and mix use / market shift, the first being most developments are designed for continuous construction rather than phased and the second most master plans could not be phased efficiently with sustainability issues pushes to the forefront. The Presentation focuses on Developers dilemmas and lessons learned and highlight some of the solutions including cost share and cost recovery mechanisms adopted through a project case study.
OEDA Infrastructure Puzzle Power Point 3-3-15David Robinson
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses techniques like loan loss reserves, subordinated debt, and performance incentives to enhance these products and attract private capital at lower costs. This allows more homeowners to adopt solar and transitions the market from relying on subsidies to sustainable financing.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses credit enhancements like loan loss reserves and subordinated debt to attract private capital at lower costs and enable more favorable financing terms that expand access to solar for homeowners.
Mark Lundine, Ohio Department of Development, presented this presentation at the Heritage Ohio Historic Tax Credit Workshop in Springfield, Ohio on May 6, 2011.
THE CURRENT STATE OF TAX EQUITY INVESTMENT IN CCUS PROJECTSiQHub
CCUS is critical to meeting net-zero goals by reducing emissions from hard-to-abate sectors and enabling negative emissions. Financing CCUS requires over 10x growth by 2030 but evolving business models, policy support, and revenue streams are helping scale adoption and projects. Key provisions in the Inflation Reduction Act expand and enhance the 45Q tax credit, lower qualifying thresholds, and allow direct pay to improve CCUS project financeability.
A Banking Perspective on Historic Tax Credits - Michael TaylorHeritage Ohio
Michael Taylor of PNC Bank discusses the banking perspective on historic tax credits at the Heritage Ohio Historic Tax Credit Workshop in Toledo, Ohio on March 25, 2011
The presentation covers infrastructure project financing, typical configurations, key project parties, project contracts, It explains financing of a power project, security mechanism, SPV payment hierarchy and risk mitigation mechanism
This document provides an overview of project finance. It discusses that project finance involves creating a legally independent entity to own a single industrial asset, financed primarily with non-recourse debt. Key points:
- Project finance is used for large infrastructure projects and had over $220 billion in capital expenditures globally in 2001.
- Projects have unique risks like technology failure, regulatory changes, and government expropriation that require customized capital structures.
- Project structures have high debt levels (over 70% on average), concentrated equity ownership, and extensive contracting to govern inputs, off-take agreements, and operations.
- This structure aims to reduce agency problems and opportunistic behavior through mechanisms like cash flow prioritization,
This document provides an overview of project finance. It begins by discussing the Modigliani-Miller proposition that capital structure is irrelevant. It then defines what constitutes a project and describes the unique risks projects face.
Project finance is defined as involving a corporate sponsor investing in and owning a single purpose asset through a legally independent entity financed with non-recourse debt. Project structures are discussed, including their independence, contracting, ownership, and high debt levels. Motivations for project finance include addressing agency costs, debt overhang, risk contamination, and risk mitigation. Various risk mitigation approaches are also outlined.
The document concludes by covering financing choices such as portfolio theory, options theory, equity vs debt,
The UK experience in using the 5 Case Model approach for the preparation, a...Caribbean Development Bank
The document provides an overview of the 5 Case Model approach used in the UK for preparing, appraising, and approving infrastructure investment proposals. It discusses the genesis and characteristics of the 5 Case Model, which includes the Strategic Case, Economic Case, Commercial Case, Financial Case, and Management Case. Each case is developed iteratively through three main stages: the Strategic Outline Case, Outline Business Case, and Full Business Case. The 5 Case Model provides a standardized, structured process for transparently selecting and delivering projects that offer the best value for money. It has been internationally recognized as a leading practice and adopted by several countries and organizations.
This document provides an overview of historic tax credits from the perspective of PNC Community Development Banking. It discusses project structuring needs, the evaluation process, calculating the credits, pricing considerations, syndication structuring, guarantee requirements, and new markets tax credits. Common pitfalls for first-time users are also listed.
African American Chamber & The Port Real Estate ForumThe Port
This quarterly forum provided organizational overviews and updates on neighborhood developments and revitalization efforts. The Port discussed its involvement in the West End neighborhood, including a community benefits agreement and memorandum of understanding with Seven Hills Neighborhood Houses regarding housing developments. Plans were outlined for a housing study and community engagement process to gather input and make recommendations. Updates were also provided on residential and commercial real estate projects throughout Cincinnati neighborhoods.
Historic Restoration & Stabilization by The PortThe Port
The Hamilton County Landbank operates a Historic Structure Stabilization Program to preserve vacant historic buildings. It is funded annually with $200,000-$400,000 from the Landbank combined with city funds. A board selects properties for stabilization, which can be formally designated or not. Stabilization makes properties compliant with maintenance standards to ready them for redevelopment. Several examples of stabilized historic properties are provided.
Neighborhood Redevelopment Projects - Evanston & Walnut HillsThe Port
The Port's Director of Commercial Development Robert Sanders and Senior Planning Associate Will Basil shared The Port's neighborhood revitalization initiatives in City of Cincinnati neighborhoods Evanston and Walnut Hills.
How Cincinnati Addresses Urban RevitalizationThe Port
The Redevelopment Authority presented our urban revitalization work at the Council of Development Finance Agencies Urban Finance Forum in Cleveland on June 7, 2018.
Neighborhood Revitalization: Funding Model for Historic Structure StabilizationThe Port
President & CEO Laura Brunner shared the Redevelopment Authority's historic stabilization funding strategy at the National Preservation Partners Network Spring Meeting 2018 in Cincinnati.
African American Chamber of Commerce (AACC) & GCRA Quarterly Forum Presentati...The Port
The quarterly forum covered neighborhood revitalization, industrial revitalization, and public finance projects. Updates were provided on several in-progress projects including renovations of 15 homes, the REACH program building homes in multiple neighborhoods, and industrial site redevelopments in Bond Hill and Queensgate. Opportunities for contractors were highlighted for upcoming construction work. The Court and Walnut mixed-use development featuring apartments, a grocery store, and parking garage was featured, with construction to be completed in 2019.
Redevelopment Authority Economic Impact in City of CincinnatiThe Port
The Greater Cincinnati Redevelopment Authority joined Regional Economic Development Partners REDI Cincinnati and the Cincinnati USA Regional Chamber of Commerce to share the Economic State of the City with the Economic Growth & Zoning Committee of City of Cincinnati City Council.
Hamilton County Planning Partnership / First Suburbs Consortium: Tools and Pr...The Port
The Hamilton County Landbank uses several programs and tools to return vacant properties to productive use, stabilize neighborhoods, and support redevelopment. These include a focus neighborhood strategy that provides demolition grants and housing redevelopment plans for priority areas, historic stabilization projects, and partnerships with community groups. Challenges to redevelopment in Cincinnati neighborhoods include issues like topography, density, and affordability. The Landbank works closely with the Port Authority and aims to promote economic inclusion in its projects.
The Hamilton County Landbank uses various tools and programs to return vacant properties to productive use. These include acquiring vacant properties through tax foreclosure and donations, then leveraging partnerships to redevelop properties through programs like demolition grants, historic stabilization projects, and a focus neighborhood strategy. The focus neighborhood strategy involves selecting communities based on factors like foreclosures and code violations, then developing housing and revitalization plans through engagement with local groups.
Panel participant on Multi-modal Integration: Freight, Transit and Passenger, part of day-long Regional Summit on Rail & Transit, by Hamolton County and City of Cincinnati.
Feb. 20, 2014
The Breakfast Lecture Series at the Cincinnati Masonic Center with Port Autho...The Port
The document discusses the Port Authority's role in regional growth and redevelopment through several projects and strategies. It outlines the Port Authority's focus on redeveloping neighborhoods like Bond Hill and Evanston by working with partners to stabilize historic buildings, preserve neighborhood character, and return vacant properties to productive use. It also discusses strategies to develop transportation and industrial corridors to attract businesses and jobs through developments like Seymour Plaza and Queensgate 100.
The Port Authority of Greater Cincinnati was established in 2000 and reformed in 2008 to expand its public financing abilities and revitalize communities. It works with the Hamilton County Land Reutilization Corporation (Land Bank) to return vacant properties to productive use. They focus on key areas and work with partners to redevelop challenging "broken" sites through tools like grants, infrastructure funding, and assembling development teams. Their goal is to stabilize neighborhoods through housing rehabilitation, demolition of blighted buildings, and partnering with community organizations on targeted strategies.
The Landbank's Role in Driving Redevelopment, UC DAAP by Chris RechtThe Port
The document discusses the role of the Hamilton County Land Reutilization Corporation (HCLRC) in facilitating redevelopment of vacant properties. It describes HCLRC as a quasi-governmental organization with powers to assemble land, provide financing, and coordinate capital for projects. HCLRC works to return vacant properties to productive use through tools like acquiring clean title and holding tax-free. It focuses redevelopment efforts on specific neighborhoods through partnerships and strategies like demolition, acquisition, and public-private partnerships. The document provides examples of HCLRC's redevelopment projects in neighborhoods such as Evanston.
Leadership cincinnati 2014-hall- leadingeconomicvibrancyThe Port
This document summarizes a presentation about the MidPointe Crossing development in Cincinnati, Ohio. It discusses three focus areas for growth and opportunity in the region. Specifically, it focuses on the Seymour/Reading Corridor, describing the demographics of over 136,000 people from four neighborhoods, over 32 major commercial and civic stakeholders employing over 75,000 people earning $4.2 billion annually. It provides data on traffic, real estate investments creating over 1,350 jobs, and unmet retail demand, positioning MidPointe Crossing as a key site for future economic development.
Update: Projects & Partnerships, to Neighborhoods Committee, Cincinnati City ...The Port
Update: Projects & Partnerships, to the Cincinnati City Council Neighborhoods Committee, from the Port of Greater Cincinnati Development Authority and the Hamilton County Landbank, January 27
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
Kumar Codename Fireworks at Hadapsar Link Road, Pune - PDF.pdfmonikasharma630
Codename Fireworks developed by Kumar Properties is a new residential development that offers 2/3 BHK premium residences with easy access to proposed ring road, airport, metro station.
For More Details:
Visit Here: kumar.developerprojects.com
Anilesh Ahuja Pioneering a Paradigm Shift in Real Estate Success.pptxneilahuja668
Anilesh Ahuja journey is a testament to the power of vision, resilience, and unwavering determination. As a visionary leader, he continues to inspire and empower others to dream big and challenge the status quo. His legacy extends far beyond the realm of real estate, leaving an indelible mark on the industry and the world at large.
Living in an UBER World - June '24 Sales MeetingTom Blefko
June 2024 Lancaster County Sales Meeting for Berkshire Hathaway HomeServices Homesale Realty covering the following topics: 1. VA Suspends Buyer Agent Payment Plan (article), 2. Frequently Used Terms in title, 3. Zillow Showcase Overview, 4. QuickBuy commission promotion, 5. Documenting Cooperative Compensation, 6. NAR's Code of Ethics - Mass Media Solicitations, 7. Is it really cheaper to rent? 8. Do's and Don't's when Terminating the Agreement of Sale, 9. Living in an UBER World
Stark Builders: Where Quality Meets Craftsmanship!shuilykhatunnil
At Stark Builders our vision is to redefine the renovation experience by combining both stunning design and high quality construction skills. We believe that by delivering both these key aspects together we are able to achieve incredible results for our clients and ensure every project reflects their vision and enhances their lifestyle.
Although we are not all related by blood we have created a team of highly professional and hardworking individuals who share the common goal of delivering beautiful and functional renovated spaces. Our tight nit team are able to work together in a way where we pour our passion into each and every project as we have a love for what we do. Building is our life.
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
UC-PNC Outlook: Debt Markets - Port Authority tools
1. UC/PNC Outlook 2015:
Real Estate Debt Markets
Laura Brunner
President & CEO
Port of Greater Cincinnati
Development Authority
March 6, 2015
1
2. Private Sector
Practices
• Risk Tolerance
• Market Focus
• Sense of Urgency
Public Sector
Tools
• Resources / Tools
• Credibility
• Long Term
Perspective
Value Creation
• Jobs
• Property Values
• Residents
PLANNING
STRATEGY
STEWARDSHIP
2
OUR STRATEGY: TO BE THE MOST SOUGHT
AFTER DEVELOPMENT PARTNER
3. 3
Stage of Growth and Risk Profile
DesperateStart-Up
Established &
Looking to Grow
Port Authority Tools
Port Authority tools are primarily debt-related
• Reduce cost of capital or construction costs
• Access to capital on more attractive terms
Commercialize
Finding the right tools:
4. Freedom Center
4
$539 million for 15 financing projects
Development Bond Financing
Freedom Center
Red Bank Village
Queen City Square
Oakley Station
7. Port Authority EB-Program: Roles
Partnership with the Cleveland International Fund (CiF)
Start with the Port Authority
Port Authority
• Market program locally
• Pipeline generation
• Preliminary due diligence
• Offer bond financing to EB-5 projects when appropriate
Regional Center (CiF)
• Loan and EB-5 underwriting
• Solicit foreign investment
• Manage investors and immigration process
• Program compliance
8. Most common in EB-5 investments
• Over 90% of EB-5 applications via Regional Centers
• Investors invest in the Regional Center, which then invests in the
project, rather than direct investment into projects or companies
• Operates within a defined geographic region, although does not
have exclusivity to any given region
Benefits:
• Can do other types of financing
(i.e. flexible, senior debt, and mezzanine financing)
• Can use Economic Modeling to estimate job creation,
counts both direct and indirect jobs
• Can aggregate funds to do larger scale investments
8
Regional Center Model
9. EB-5 for Development Finance
• Works best as a portion of the capital stack
– Senior debt at higher LTV and/or lower interest rates
than traditional debt
– Mezzanine debt to fill a financing gap
• Works with a variety of asset types
• Projects with public sector participation are more
significant to foreign investors
• Can be combined with TIF, New Markets Tax Credits, other
9
10. • Minimum $30 million project
• Senior Mortgage or Mezzanine Debt
• 5 Year Term, Interest Only
• Office, Retail, Hotel, Multifamily, Industrial,
Infrastructure
• Anywhere in Hamilton County,
urban areas of Hamilton and Middletown
10
Port Authority EB-5 Requirements
11. Case Study: The Flats East Bank
11
Centered on the construction of the
Ernst & Young office tower,
attached Aloft Hotel,
and space for retail and restaurants.
Phase 1 completed in 2013.
Total EB-5 Investment: $45 million
Total Project: $275 million
EB-5 Investors: 90
Job Creation: Estimated 1,800+
Status: Closed | Fully Funded
12. • $65 million office development
• Maximum EB-5 investment of $16 – 20 million
• Senior Debt or Mezzanine Debt, as opposed to
Equity position
Examples
13. Recent Ohio projects financed with
Lease Structure:
CLEVELAND:
- Flats East Banks
- Eaton
TOLEDO:
-The Andersons
COLUMBUS:
- Lane Avenue Development
13
CONSIDER:
15. • Port Authority not required to pay state and local sales
tax on construction materials – even if the project is for
economic development purposes
• To use this incentive, Port Authority must have an
ownership interest in the project – even if those
properties are leased to private entities
• Property transfer and lease arrangements
made on a case-by-case basis
15
Structured Lease
16. $25 million new construction project (hard costs)
• Assume 50% of hard cost for construction materials
• Hamilton County sales tax 6.75%
• Goal: 80% of savings retained by client post transaction fees & expenses
• Total savings to client: $675,000
$5 million new construction project (hard costs)
• Add on to a project where the Port Authority has another role
• Assume 50% of hard cost is for construction materials
• Hamilton County sales tax of 6.75%
• Goal: 80% of savings retained by client post transaction fees & expenses
• Total savings to client: $135,000
16
Structured Lease - Examples
17. Structured Lease - Bond Financing
• Port Authority specific financing option
– capital or operating lease
• Port Authority purchases or constructs the facility;
leases facility to a master lessee who makes lease payments to
cover debt service on the bonds
• Master lessee can be a developer or an end user
• The bondholder has recourse only to the lease payments made by
the lessee or any guarantor or to the asset leased or financed
• Lease bond financings are credit dependent
17
22. What is PACE?
• Innovative financing to support energy efficiency
and renewable energy upgrades
• Property requests assessment on property tax bill
to raise capital for improvements
Benefits
• No net out-of-pocket expense
• 100% of project costs can be financed
• Debt terms extended to 15 years,
to achieve positive cash flow on retrofits
What type of Project qualifies?
• Demonstrated cost savings; reduced energy consumption or generation
• End-of-Life cycle equipment replacement
22
Property Assessed Clean Energy (PACE)
23. Five Ohio Bond Funds have financed
more than 100 deals for $400 million
None in Cincinnati
23
CONSIDER:
25. Southwest Ohio Regional Bond Fund:
Eligible Borrows and Projects
Eligible Borrowers:
• Industrial or commercial companies including manufacturing,
distribution, housing, education
• Infrastructure projects (TIF & Special Assessment Projects, PACE)
• Non-profit or 501 c(3) entities
• Governmental
Eligible Projects:
• Acquisition and/or renovation of existing buildings
• Construction of new buildings
• Acquisition of land
• Purchase and installation of equipment
• Financing costs and soft costs
26. Upcoming Event:
Innovative Real Estate Finance Tools
26
UC Real Estate Center
Professional Development Series
March 24, 2015
7:30am-11:00am
Susan Thomas, Vice President of Public Finance,
Port of Greater Cincinnati Development Authority
Matt Staarmann, Managing Director,
Ross, Sinclaire & Associates
Public finance and other non-traditional funding sources for real estate development
27. Thank you
UC/PNC Outlook 2015:
Real Estate Debt Markets
Laura Brunner
President & CEO
Port of Greater Cincinnati
Development Authority
lbrunner@cincinnatiport.org
cincinnatiport.org @PGCDA
Editor's Notes
Our role – leveraging expertise across multiple initiatives
CiF:
Total EB-5 Loan Commitments: $232 million
Total EB-5 Raised: $210.5 million
Total Project Cost: $1.697 billion
Job Creation Calculation
EB-5 Investment Capital requires Job Creation
Amount of EB-5 investment a project can support is based on job calculations
Multiple allowable techniques to calculate jobs
Direct jobs (head count) difficult to track, limits investment size
Economic modeling using development expenditures to determine direct, indirect, and induced jobs
Typically can finance 25-30% of total project costs
Can count expenses and revenues for entire project, not just EB-5 funded portion
Project certainty very important
EB-5 Underwriting Criteria
Located in a Targeted Employment Area (TEA)
Job coverage ratio
Size/scale
Strength of the developer or end-user
Public involvement
Ability to refinance EB-5 debt
Complete capital stack
Certainty of execution
High Density, Mixed-Use project on Cleveland’s downtown waterfront
$275 Million Project
18-story tower
450,000 square feet of Class A office space
Attached Aloft hotel with 150 beds
Commercial space for restaurants
Broke ground in 2010, tenants began moving in in 2013
Complex project with over 30 sources in the capital stack
EB-5 provided $45 Million, from a total of $117 Million, in First Mortgage debt
EB-5 addressed a critical gap in the capital market
Hotel – no other lenders at that time
Office – Expanded First Mortgage capacity
$125 million mixed use development
$30MM Hotel
$55MM Office
$25MM Residential
$15MM Parking Garage
Maximum EB-5 Investment of $31-37MM
Could direct all EB-5 investment to components that are more difficult to otherwise finance
Hotel, lower pre-leasing requirements for office/retail, Mezz debt to bring senior mortgage LTV low enough to eliminate personal/corporate guaranty requirements
Port Authority specific financing option – capital or operating lease
Port Authority purchases or constructs the facility. Port Authority leases facility to a master lessee who makes lease payments sufficient to cover debt service on the bonds that financed the facility
Master lessee can be a developer or an end user
The bondholder has recourse only to the lease payments made by the lessee or any guarantor or to the asset leased or financed
Lease bond financings are credit dependent
CONSIDER:
Toledo-Lucas County Port Authority: over $30 million in energy efficiency projects, approximately $18 million of which were PACE projects.
Source: Setting the Pace: Financing Commercial Retrofits; Institute for Building Efficiency; Feb 2013 citing Energy Efficiency Indicator Survey, Institute for Building Efficiency, Johnson Controls, 2012.
The Energy Special Improvement District was established to promote economic development through PACE financing – which stands for Property Assessed Clean Energy financing.
We helped establish this program with the City and Greater Cincinnati Energy Alliance – it is a regional program by which building / property owners can finance energy efficiency and renewal improvements through voluntary assessments on its real estate tax bill.
Cooperative Arrangement with Dayton Port Authority
A credit-enhancement vehicle supported by a system of common program reserves and designed to achieve an investment grade rating.
The fund can be used to provide unrated but credit-worthy businesses, both large and small, access to long-term, low cost, fixed-rate financing to fund expansions and create jobs.
Additionally, Tax Increment Financing (TIF) backed infrastructure bonds of less than $6 million could become financially viable if issued to the fund.
Partners well with other Port Authority Bond Funds and the Ohio Enterprise Bond Fund.
Goodyear Project Cost: $22 million
Source Funds:$5,500,000 - DFA Jobs & Investment Fund Bonds$4,125,000 - Cleveland-Cuyahoga County Port Authority Bonds$7,860,000 - Ohio Enterprise Bond Fund$4,500,000 - Ohio Department of Development R&D Loan--------------$ 21,985,000 - Total