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Live Make - PAB Application - 8-6-2021 - FINAL

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AHFC APPLICATION FOR BOND FINANCING Live Make Apartments 1127 Tillery Street, Austin, Texas 78702 Submitted by: Live Make Housing Partners, LP Contact-Teresa Bowyer (806) 543-8645 citrinedev@gmail.com Live Make Apartments 1127 Tillery Street, Austin, Texas 78702 APPLICATION FORM Austin Housing Finance Corporation P.O Box 1088, Austin, TX 78767-1088 Application for Financing Qualified Multifamily Residential Rental Project Please read the instructions before completing and submitting this application Section A Application Summary Name, Address, telephone and fax numbers of Applicant Name, address, telephone number, fax number and email address for Applicant’s contact person Live Make Housing Partners LP 4926 E Cesar Chavez St, Unit C, Austin, TX 78702 512-554-2406 Teresa Bowyer 806-543-8645 citrinedev@gmail.com 2814 Inridge Drive, Austin, Texas 78745 Amount of Tax-Exempt Bond Issuance Requested? $9,000,000 X X What type of bond financing is being requested for this development? Private Activity Bonds 501(c) If Private Activity Bonds, which Priority Election? Brief description of project Live Make will provide 66 units of affordable housing in an amenity- and servicerich development of GP , Manager of GP Section B Applicant Information What is the legal form of the Applicant (please check one) Sole Proprietorship General Partnership X Business Corporation Limited Partnership 501(c)3 Corporation Limited Liability Company Is the Applicant a “to be formed” entity? No Participants in the Application Please attach an organizational chart identifying the Participants in the Application and identify it at “Attachment A” The purpose of this section is to identify and describe the organizations or persons that will own, control and benefit from the Application to be funded with AHFC assistance The Applicant’s ownership structure must be reported down to the level of the individual Principals (natural persons) Persons that will exercise control over a partnership, corporation, limited liability company, trust or any other private entity should be included in the organizational chart Nonprofit entities, public housing authorities, housing finance corporations and individual board members must be included in this chart Has the Applicant, any of its officers or directors, or any person who owns a 10% of greater interest in the Applicant ever been found in violation of any rules or regulations of HUD or of any other federal or state agency or been the subject of an investigation by HUD or of any other federal or state agency? If yes, attached a full explanation Yes X No Development Team Members Please attach a list with the name, address, telephone number, fax number and email address of Applicant’s professional development team members This should include, but is not limited to, legal counsel, financial adviser, investment banker, mortgage banker, architect, general contractor, etc This should be identified as “Attachment B” Previous Experience Please attach a summary of the Applicant’s (or its principal’s) development experience in terms of project types and dates, cost, locations and methods of financing This should be identified as “Attachment C” Financial Capacity Please attach copies of the Applicant’s most recent audited financial statements including balance sheet and profit and loss statements This should be identified as “Attachment D” Section C Development Information X Is this Application for (please check one)? New Construction Acquisition/Rehabilitation Describe the location of the project site, including the zip code and its street address (if available) This description will be used in the public hearing advertisement and must be complete enough to permit someone interested in the project to find the site 1127 Tillery Street, Austin, Texas 78702 [Note the development site is the southern portion of the site Live Make will not disturb the orchard on the northern approx 2.5 acre portion of the site.] Project Location Please attach a (1) legal description of the site boundaries and (2) map showing the site and surrounding area Mark on the map any schools, churches, public parks, shopping centers and other relevant services within a half-mile radius of the site This information should be identified as “Attachment E” If the proposed site is located in a Qualified Census Tract, please give the tract number 48453000801 If the Applicant owns the project site, please provide the: N/A Purchase date Purchase price Balance of existing mortgage Name of existing mortgage holder If the Applicant holds an option or contract to purchase the project site, attach a copy of the Agreement This should be identified as “Attachment E” Please indicate the total number of units in the development and the number of units that will be rent and income restricted 66 66 Total number of units Number of restricted units Please attach a financing proposal information package that includes at a minimum: A Rent Schedule B Utility Allowance Sheet C Annual Operating Expense Schedule D Development Cost Schedule (budget) E Sources and Uses of Funds Schedule F 30 year proforma G Financing narrative detailing your development plan This information package should be identified as “Attachment F” 10 X X X Please check which of the following furnishings and equipment will be included in the individual apartment units: Air conditioning Range X Disposal Carpet Refrigerator Dishwasher X Fireplace Cable TV Washer/Dryer Other (describe) 10 Please check which of the following utilities development tenants will be required to pay for on an individual basis: X Electricity Water and wastewater X Gas Garbage pickup X Other (describe) X 11 Describe any additional facilities to be included in the project For example: covered parking, laundry, community space in clubhouse, swimming pool, playground, etc The development will include approximately 8,000 sf of leasing office and clubhouse amenities, including creative studio space 12 Describe any restrictions the Applicant intends to impose on project tenants, such as family size, pets, etc Property Management will implement AHFC 's Right to Stay/Return Preference Policy as well as RHDA tenant selection policies There will be a pet weight limit and pet deposit Standard occupancy rules will apply 13 Do you intend to set aside 5% of the units for occupancy by the elderly? Yes No 14 Do you intend to pay the Texas Department of Aging at closing a one-time fee equal to 0.10% of the total principal amount of the bond issue? Yes No X 15 Has construction or rehabilitation work on the project begun? X Yes No X If yes, give the beginning and estimated completion date: N/A If no, give the anticipated beginning date and completion date: Construction is expected to begin in Q3 of 2022, immediately after financing/ground lease closing, and will be completed within 14 months 16 Please give the total cost expended or incurred with respect the project up to the date of this application $60k 17 Please describe briefly the anticipated arrangements for the development management Attach a resume for the proposed management company and estimate the monthly management fee to be paid The management company resume should be identified as “Attachment G” IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed as of the date first written above by their respective officers thereunto duly authorized AUSTIN HOUSING FINANCE CORPORATION By: Name: Rosie Truelove Title: Treasurer IMAGINE ART By: Name: Deborah Kizer Title: CEO MRE CAPITAL, LLC By: Name: Daniel Sailler, III Title: Manager CITRINE DEVELOPMENT, LLC By: Name: Teresa Bowyer Title: Manager/Member IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed as of the date first written above by their respective officers thereunto duly authorized AUSTIN HOUSING FINANCE CORPORATION By: Name: Rosie Truelove Title: Treasurer IMAGINE ART By: Name: Deborah Kizer Title: CEO MRE CAPITAL, LLC By: Name: Daniel Sailler, III Title: Manager CITRINE DEVELOPMENT, LLC By: Name: Teresa Bowyer Title: Manager/Member             Live Make Apartments  1127 Tillery Street, Austin, Texas 78702    ATTACHMENT F  FINANCING PROPOSAL/INFORMATION    Note: The following worksheets are provided ‐   Rent Schedule   Utility Allowance Sheet   Sources and Uses of Funds (RHDA)   Development Cost Schedule   15 year Pro‐Forma      Financial Narrative  This development will be financed by 2022 tax‐exempt bonds, 4% housing tax credits, and RHDA gap  funds. For debt, we are exploring a construction to perm loan product with an 18 year term, a 40 year  amortization and an interest rate of 4.5%. The RHDA gap financing will total $3,797,000, including an  existing $297,000 predevelopment loan, and will be a forgivable, 0% construction‐to‐perm loan. For  equity, we have assumed that the tax credits will sell for $.91.        Rent Schedule Self Score Total: Unit types must be entered from smallest to largest based on “# of Bedrooms” and “Unit Size”, then within the same “# of Bedrooms” and “Unit Size” from lowest to highest “Rent Collected/Unit” You are not Private Activity Bond Priority (For Tax-Exempt required to distinguish the HC or AV Units from other Units that are the same size/floor plan Bond Developments ONLY): If MFDL only or MFDL is the only permanent financing, there cannot be ANY market rate Units Rent Designations (select from Drop down menu) HTC Units MFDL HOME Units MFDL -NHTF TDHCA MRB Units Units Other/ Subsidy Units # of Units # of Bed- # of rooms Baths Unit Size (Net Total Net Tenant Paid Rent Program Rentable Sq Rentable Utility Collected Rent Limit Ft.) Sq Ft Allow /Unit (E) (B) (A) x (B) 550 4,950 519 155 364 Total Monthly Rent (A) 1.0 TC 50% TC 60% 13 1.0 866 155 711 9,243 1.0 550 550 7,150 4,400 1,039 155 884 7,072 TC 30% 1.0 650 1,300 556 164 392 784 TC 50% 1.0 650 5,850 928 164 764 6,876 TC 60% 1.0 650 5,200 1,113 164 949 7,592 TC 30% 2.0 880 880 668 198 470 470 TC 50% 2.0 880 3,520 1,113 198 915 3,660 TC 60% 2.0 880 6,160 1,336 198 1,138 7,966 TC 30% 2.0 1250 1,250 771 236 535 535 TC 50% 2.0 1250 1,250 1,286 236 1,050 1,050 TC 60% 3 2.0 1250 3,750 1,543 236 1,307 3,921 TC 30% TOTAL Non Rental Income Non Rental Income Non Rental Income 66 $0.00 per unit/month for: 0.00 per unit/month for: 0.00 per unit/month for: + TOTAL NONRENTAL INCOME $0.00 per unit/month = POTENTIAL GROSS MONTHLY INCOME - Provision for Vacancy & Collection Loss - Rental Concessions (enter as a negative number) = EFFECTIVE GROSS MONTHLY INCOME x 12 = EFFECTIVE GROSS ANNUAL INCOME 132233 If a revised form is submitted, date of submission: (A) x (E) 3,276 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 45,660 % of Potential Gross Income: Enter as a negative value 52,445 52,445 52,445 629,340 8/6/2021 Rent Schedule (Continued) % of LI % of Total TC20% HOUSING TAX CREDITS BEDROOMS % of Total MRB20% MRB30% MRB40% 0 MRB50% MRB60% TC30% TC40% 20% 20% 13 TC50% 41% 41% 27 TC60% 39% 39% 26 MORTGAGE REVENUE TC70% MRB70% TC80% MRB80% MRB LI Total HTC LI Total 66 BOND EO MRBMR MR MRBMR Total MR Total MRB Total 30% Total HTC Units DIRECT LOAN (NHTF) % of LI 66 HTF30% NHTF LI Total MR MR Total HTF Total 0 0 40% LH/50% DIRECT LOAN (HOME, HH/60% HH/80% TCAP RF, and/or NSP1 Direct Loan LI Total PI) EO MR MR Total Direct Loan Total OTHER Total OT Units 30 ACQUISITION + HARD 19 12 5 0 Cost Per Sq Ft HARD Cost Per Sq Ft BUILDING Cost Per Sq Ft $ - $ - $ - 0 0 0 0 0 DO NOT USE THIS CALCULATION TO SCORE POINTS UNDER 11.9(e)(2) At the end of the Development Cost Schedule, you will have the ability to adjust your eligible costs to qualify Points will be entered there 8/6/2021 Utility Allowance Schedule U.S Department of Housing and Urban See Public Reporting and Instructions on back Office of Public and Indian Housing The following allowances are used to determine the total cost of Date (mm/dd/yyyy): Locality: Unit Type: Multi-Family tenant-furnished utilities and appliances Housing Authority of the City of Austin, TX BR Utility or Service: Heating OMB Approval No 25577-0169 Development BR exp.7/31/2022 Effective Date: June 1, 2021 BR (Elevator) BR BR Monthly Dollar Allowances BR a Natural Gas $9.00 $10.00 $12.00 $12.00 $14.00 $15.00 c Electric $6.00 $7.00 $9.00 $10.00 $12.00 $13.00 Natural Gas $2.00 $2.00 $4.00 $4.00 $6.00 $7.00 $3.00 $4.00 $5.00 $7.00 $8.00 $10.00 $22.00 $24.00 $29.00 $34.00 $40.00 $45.00 $9.00 $11.00 $15.00 $20.00 $24.00 $28.00 b Bottle Gas/Propane d Oil Cooking a b Bottle Gas/Propane c Electric Other Electric & Cooling Other Electric (Lights & Appliances) (Includes Monthly Charge) Air Conditioning Water Heating a Natural Gas $4.00 $5.00 $7.00 $9.00 $12.00 $14.00 c Electric $7.00 $8.00 $10.00 $13.00 $15.00 $17.00 Water $37.00 $38.00 $45.00 $53.00 Trash Collection $28.00 $28.00 $28.00 $29.00 b Bottle Gas/Propane d Oil Water, Sewer, Trash Collection Sewer Tenant-supplied Appliances $71.00 Range / Microwave Tenant-supplied Refrigerator Tenant-supplied Other specify: Monthly Charges Natural Gas Charge $18.59 Actual Family Allowances $72.00 Name of Family Address of Unit Number of Bedrooms $60.00 $67.00 $99.00 $112.00 $126.00 $29.00 $35.00 $11.00 $11.00 $11.00 $11.00 $11.00 $11.00 $19.00 $19.00 $19.00 $19.00 $19.00 $19.00 $12.00 $12.00 To be used by the family to compute allowance Complete below for the actual unit rented $85.00 $12.00 $12.00 Utility or Service Heating Cooking Other Electric Air Conditioning Water Heating Water Sewer Trash Collection Range / Microwave Refrigerator Other Other Total The Nelrod Company 1/2021 Update $12.00 $ $ $ $ $ $ $ $ $ $ $ $ $ $12.00 per month cost adapted from form HUD-52667 (7/2019) Project Summary Form 1) Project Name 2) Project Type Live Make Apartments 3) New Construction or Rehabilitation 100% Affordable New Construction 4) Address(s) or Location Description 5) Mobility Bond Corridor Approx 2.65 Ac of approx 5.15 Ac at 1127 Tillery St 6) Census Tract 8.01 7) Council District 8) Elementary School District 10) Type of Structure Airport Blvd GOVALLE EL 11) Occupied? Multi-family 9) Affordability Period 55 years 12) How will funds be used? No Construction 13) Summary of Rental Units by MFI Level Income Level Up to 20% MFI Up to 30% MFI Up to 40% MFI Up to 50% MFI Up to 60% MFI Up to 80% MFI Up to 120% MFI No Restrictions Total Units Income Level Up to 60% MFI Up to 80% MFI Up to 120% MFI No Restrictions Total Units Efficiency One Bedroom Two Bedroom Three Bedroom 1 13 10 30 19 12 14) Summary of Units for Sale at MFI Level Four (+) Bedroom Efficiency One Two Three Four (+) 0 0 15) Initiatives and Priorities (of the Affordable Units) Initiative Accessible Units for Mobility Impairments Accessible Units for Sensory Impairments # of Units 10 Initiative Continuum of Care Units Use the City of Austin GIS Map to Answer the questions below 16) Is the property within 1/2 mile of an Imagine Austin Center or Corridor? 17) Is the property within 1/4 mile of a High-Frequency Transit Stop? 18) Is the property within 3/4 mile of Transit Service? 19) The property has Healthy Food Access? 20) Estimated Sources and Uses of funds Sources Debt 3,600,000 Equity 5,790,000 Grant Other Deferred Developer Fee 298,000 Previous AHFC Funding 297,000 Current AHFC Request 3,500,000 Total $ 13,485,000 Total 13 25 28 0 66 Total 0 0 # of Units 15 Yes Yes Yes Yes Uses Acquisition 40,000 Off-Site Site Work 914,500 Sit Amenities Incl in Site Work Building Costs 7,120,000 Contractor Fees 1,326,000 Soft Costs 884,500 Financing 1,700,000 Developer Fees 1,500,000 Total $ 13,485,000 Development Budget Total Project Cost Requested AHFC Funds Description Pre-Development Appraisal Environmental Review Engineering Survey Architectural Subtotal Pre-Development Cost Acquisition Site and/or Land Structures Other (specify) Construction 20,000 5,000 155,000 65,900 323,065 $568,965 Incl Market Study In Contractor Budget; Incl Geotech $0 40,000 Subtotal Acquisition Cost $40,000 $0 Infrastructure Site Work Demolition Concrete Masonry Rough Carpentry Finish Carpentry Waterproofing and Insulation Roofing and Sheet Metal Plumbing/Hot Water HVAC/Mechanical Electrical Doors/Windows/Glass Lath and Plaster/Drywall and Acoustical Tiel Work Soft and Hard Floor Paint/Decorating/Blinds/Shades Specialties/Special Equipment Cabinetry/Appliances Carpet Other (specify) Construction Contingency Subtotal Construction Cost Soft & Carrying Costs Legal Audit/Accounting Title/Recordin Architectural (Inspections) Construction Interest Construction Period Insurance Construction Period Taxes Relocation Marketing Davis-Bacon Monitoring Developer Fee Other (specify) 862,100 435,500 197,800 1,274,200 Woods & Plastics Includes Roof Covering Metals 493,800 126,200 Includes Plumbing 1,362,400 705,200 308,800 Furnishings 421,400 352,400 936,200 120,600 1,509,125 $9,105,725 Finishes Elevator 3,500,000 5% Contingency & Contractor Fees (6/2/6) $3,500,000 Bond, Perm, Issuer Counsel Fees & Local Opinion & Org Costs Includes Lender & HFA Fees & HFC Fees 300,000 365,350 70,000 26,400 831,740 67,736 25,000 468,774 16,500 Op Reserves & Service Reserves Subtotal Soft & Carrying Costs 1,500,000 98,810 $3,770,310 $0 TOTAL PROJECT BUDGET $13,485,000 $3,500,000 Soft Cost Contingency & Green & Interior Design 15 Year Rental Housing Operating Pro Forma (RHDA) The pro forma should be based on the operating income and expense information for the base year (first year of stabilized occupancy using today’s best estimates of market rents, restricted rents, rental income and expenses), and principal and interest debt service The Department uses an annual growth rate of 2% for income and 3% for expenses Written explanation for any deviations from these growth rates or for assumptions other than straight-line growth made during the proforma period should be attached to this exhibit INCOME POTENTIAL GROSS ANNUAL RENTAL INCOME Secondary Income POTENTIAL GROSS ANNUAL INCOME Provision for Vacancy & Collection Loss Rental Concessions EFFECTIVE GROSS ANNUAL INCOME EXPENSES General & Administrative Expenses Management Fee Payroll, Payroll Tax & Employee Benefits Repairs & Maintenance Electric & Gas Utilities Water, Sewer & Trash Utilities Annual Property Insurance Premiums Property Tax Reserve for Replacements Other Expenses TOTAL ANNUAL EXPENSES NET OPERATING INCOME DEBT SERVICE First Deed of Trust Annual Loan Payment Second Deed of Trust Annual Loan Payment Third Deed of Trust Annual Loan Payment Other Annual Required Payment Other Annual Required Payment ANNUAL NET CASH FLOW CUMULATIVE NET CASH FLOW Debt Coverage Ratio YEAR YEAR YEAR YEAR YEAR YEAR 10 YEAR 15 $629,340 $15,840 $645,180 -$45,163 $0 $600,017 $641,927 $15,840 $657,767 -$46,044 $0 $611,723 $654,765 $15,840 $670,605 -$46,942 $0 $623,663 $667,861 $15,840 $683,701 -$47,859 $0 $635,842 $681,218 $15,840 $697,058 -$48,794 $0 $648,264 $752,120 $17,489 $769,608 -$56,566 $0 $713,043 $830,401 $19,309 $849,710 -$65,575 $0 $784,135 $25,940 $36,001 $98,562 $48,510 $14,850 $24,750 $30,888 $66,000 $19,800 $0 $365,301 $234,717 $26,718 $37,081 $101,518 $49,965 $15,296 $25,493 $31,815 $67,980 $19,800 $0 $375,666 $236,058 $27,520 $38,194 $104,564 $51,464 $15,754 $26,257 $32,769 $70,019 $19,800 $0 $386,342 $237,321 $28,345 $39,339 $107,701 $53,008 $16,227 $27,045 $33,752 $72,120 $19,800 $0 $397,338 $238,504 $29,196 $40,519 $110,932 $54,598 $16,714 $27,856 $34,765 $74,284 $19,800 $0 $408,664 $239,600 $33,846 $46,973 $128,600 $63,295 $19,376 $32,293 $40,302 $86,115 $19,800 $0 $470,600 $242,443 $39,237 $54,455 $149,083 $73,376 $22,462 $37,437 $46,721 $99,831 $19,800 $0 $542,401 $241,734 $194,211 $0 $0 $0 $0 $40,506 $40,506 1.21 $194,211 $0 $0 $0 $0 $41,846 $82,352 1.22 $194,211 $0 $0 $0 $0 $43,110 $125,462 1.22 $194,211 $0 $0 $0 $0 $44,293 $169,755 1.23 $194,211 $0 $0 $0 $0 $45,389 $215,143 1.23 $194,211 $0 $0 $0 $0 $48,231 $449,193 1.25 $194,211 $0 $0 $0 $0 $47,523 $688,579 1.24             Live Make Apartments  1127 Tillery Street, Austin, Texas 78702    ATTACHMENT G  PROPERTY MANAGEMENT INFORMATION    Annual Management Fee: 6% of EGI, estimated at $36,001 in Year MetroPlains Management, LLC  MetroPlains  Management,  LLC  has  over  25  years  of  experience,  dedication,  and  quality  service  that  allows  the  firm  to  strive  professionally  through  managing  commercial,  retail  or  residential  properties.  MetroPlains  Management’s,  LLC  top  leadership  has  been  distinguished  with  the  Certified  Property  Manager  (CPM®)  designation  from  the  Institute  of  Real  Estate  Management  (IREM®).  Dedicated  to  setting  the  standard  in  all  phases  of  the  real  estate  business,  the  MetroPlains Management, LLC team is knowledgeable in critical areas and capable of responding  quickly and effectively. Their success is founded on a dedication to excellence and a commitment  to creating value for all clients served.  MetroPlains  Management’s,  LLC  compliance  team  specializes  in  managing  properties  that  are  mixed‐income financed with housing programs such as Housing Tax Credits, Historic Tax Credits,  Rural Development, HOME, and Department of Housing and Urban Development.   During  the  lease‐up  process,  MetroPlains  Management,  LLC  will  review  all  Housing  Tax  Credit  (HTC) tenant files that make up the project’s initial qualified basis to achieve eligibility.  MetroPlains  currently  manage  one  HUD  property  that  serves  low‐income  individuals  with  intellectual  and  developmental  disabilities.  The  nonprofit  owner  provides  services  for  this property. They also manage a 43 unit property for persons transitioning from homelessness.  The nonprofit  owner  provides  services  for  the  property.  They  have  six  other  properties  that  have  mixed units with both long‐term housing and LIHTC units.  A corporate profile is attached Years On Your Side MetroPlains Management, LLC Stats: Founded in 1983, MetroPlains Management, LLC has grown to become the Upper Midwest’s leading provider in the affordable housing industry • Manages more than 3,500 housing units and approximately 435,000 sq feet of commercial space throughout Minnesota, North Dakota, Kansas and Oklahoma • MetroPlains Management, LLC remains a financially stable leader in the property management industry by owning and investing in 65% of it’s managed portfolio At MetroPlains Management, LLC we believe commitment, trust, reliability and communication should be the foundation of every client relationship We take pride in our work and are committed to creating a customized solution to satisfy each client’s individual needs Our Workforce MetroPlains Management, LLC workforce team is made up of accomplished, investor-driven industry professionals such as: • • • • • • Certified Public Accountants (CPA®) Certified Property Manager (CPM®) Attorneys Financers National Apartment Leasing Professionals (NALP) Certified Credit Compliance Professionals (C3P) • • • • • Certified Occupancy Specialist (COS) Human Resource Managers Property Managers Building Engineers Construction Manager Our Clients We partner with a broad range of clients, including: • Partnerships and Individual Owners • Small to Mid-sized City Housing Authorities • Community Groups • Non Profit Organizations • Supportive Housing Providers Celebrating Over 25 Years of Service Excellence 1600 University Ave • Suite 212 • St Paul, MN 55104-3825 (p) 651.646.7848 • (f) 651.646.8947 223 4th Avenue NE • Suite A • Devils Lake, ND 58301-0910 (p) 701.662.4776 • (f) 701.662.2987 metroplainsmanagement.com INTEGRATED PARTNERSHIPS BUILT TO LAST metroplainsmanagement.com MetroPlains Management is a professional management company with a dedicated, courteous staff who will serve you, your customers and the community’s needs MetroPlains Management, LLC MetroPlains Management, LLC has over 25 years of experience, dedication, and quality service that allows us to strive professionally through managing commercial, retail or residential properties MetroPlains Management’s, LLC top leadership has been distinguished with the Certified Property Manager (CPM®) designation from the Institute of Real Estate Management (IREM®) Time and time again, owners and investors turn to MetroPlains Management, LLC for their comprehensive property management expertise and ethical standards Dedicated to setting the standard in all phases of the real estate business, the MetroPlains Management, LLC team is knowledgeable in critical areas and capable of responding quickly and effectively As a result, we can adjust quickly to an ever-changing local marketplace with a focus on action and results Our success is founded on a dedication to excellence and a commitment to creating value for all clients served specialty services Market Analysis MetroPlains Management, LLC can assist your asset manager by reviewing leasing staff’s performance by conducting shop visits both by telephone and on site as well as prepare marketing surveys for a specified area Accounting Our accounting team works closely with outside accounting firms in the production of third-party audited financial statements and income tax filings as required MetroPlains Management, LLC can offer accounting services for monthly financial statements, accounts payable and account receivables as well as budget preparation Compliance Consulting MetroPlains Management’s, LLC compliance team specializes in managing properties that are mixed income financed with housing programs such as Housing Tax Credits, Historic Tax Credits, Rural Development, HOME and Department of Housing and Urban Development Our knowledgeable and professional staff are trained and certified to manage your compliance needs MetroPlains Management, LLC can offer compliance monitoring services such as the following: Housing Tax Credit Program • During the lease-up process, MetroPlains Management, LLC will review all Housing Tax Credit (HTC) tenant files that make up the project’s initial qualified basis to achieve eligibility Rural Development Section 515 and HUD Section Programs • Electronic submission of HUD Section Tenant Certifications • Electronic submission of RD Section 515 Tenant Certifications Physical Asset Management • Investors’ Reviews: MetroPlains Management, LLC can assist asset managers by conducting periodic site reviews of both the property and resident files to determine on-going eligibility Property Management We are a full service management company offering: • A range of range of expertise from managing for a single asset owner to managing highly complex financing and partnership structures in both rural and urban settings • An incentive fee structure Our fees are always based on the performance of your property • Cash flow enhancement through maximizing rental income, controlling expenses and managing preventative maintenance systems • Resident and community relations through background screening, enforcement of lease rules and regulations, and positive community relations and image • Accurate financial statements and compliance reports in a timely manner by utilizing YARDI, the leading property management software Commercial Property Management MetroPlains Management, LLC commercial property management team provides services and turnkey solutions that create value for our clients Our experience with energy management, energy conservation, construction management and hundreds of lease transactions create value We offer property management solutions for: • Office Properties • Office / Warehouse • Retail Facilities • Medical Facilities Connecting places with people, achieving dreams Asset Management Over 30 year history of acting as a managing general partner in over 100 properties provides expertise in: • Sales of Properties: We can act as a consultant to identify the best buying and highest value of your property or partnership • Refinancing: Whether to provide cash to owners, lower debt service on funds for capital improvements, we have experience with banks, insurance companies, government agencies and housing revenue bonds • Rehabilitation: We can coordinate the needs of your tenants with contractors performing major rehabilitation of occupied builders • Repositioning: We are experienced in the process of repositioning properties to create added value, improve curb appeal, and achieve a stronger market image within the surrounding area • Physical Inspections: MetroPlains Management, LLC is qualified to perform Housing Quality Standards (HQS) inspections and can assess and prepare your development for upcoming Real Estate Assessment Center (REAC) inspections Our philosophy is that each project should be managed with the same care and attention to detail that we would give our own property ... Live Make Housing Partners, LP , Tillery Street Housing, LLC Live Make Apartments 1127 Tillery Street, Austin, Texas 78702 ATTACHMENT A ORGANIZATIONAL CHART Live Make - 1127 Tillery Street Live Make. .. Live Make Housing Partners LP 4926 E Cesar Chavez St, Unit C, Austin, TX 78702 51 2-5 5 4-2 406 Teresa Bowyer 80 6-5 4 3-8 645 citrinedev@gmail.com 2814 Inridge Drive, Austin, Texas 78745 Amount of Tax-Exempt.. .Live Make Apartments 1127 Tillery Street, Austin, Texas 78702 APPLICATION FORM Austin Housing Finance Corporation P.O Box 1088, Austin, TX 7876 7-1 088 Application for Financing

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