NASLEF is a professional, nonprofit association formed in 1994 to promote the efficient management of state and local equity funds. Collectively through 2016, its 12 member funds operating in 40 states and Washington, D.C. have created or rehabilitated 173,488 units of affordable housing and have raised over 13.8 billion in equity capital for rental housing developments throughout the United States.
The goal of Due Diligence & Closing is to structure partnerships that have a high likelihood of performing in accordance with projected operating budgets, achieving occupancy goals, and delivering projected tax benefits.
Monitoring construction is a key element in ensuring that projects are built in accordance with plans and specifications and meet expected benchmarks.
The goal of Lease-Up and Initial Tenant File Reviews is to track and facilitate the project’s performance in order to meet requirements under the operating agreement and to quantify and mitigate any non-performance or shortfalls.
Data from stabilized operations can be compared to syndicator projections and annual budgets and aggregated into portfolio performance measures. Proper reporting generally results in delivery of investment return in line with original projections.
Monitoring contractual and regulatory compliance plays a fundamental role in risk reduction in an effort to realize target investment return.
Integrated, functioning information management systems are imperative for syndicators to conduct business.
In an ever-changing regulatory environment it is crucial that documents be retained in compliance with Government and Industry guidelines.
Monitoring, assessing, and communicating risks are an essential piece of maintaining a profitable, compliant property.
At the end of the 15 year tax credit process syndicators play a pivotal role in divesting lower tier partnerships and closing out upper tier funds.
Training specific to the development and operations of affordable housing is important for participants at all levels in the tax credit industry.