Developing with CAHEC
When developers partner with CAHEC, they soon discover that they are working with a team well acquainted with the intricacies of managing a tax credit investment. CAHEC’s development team knows the details of a state’s QAP, have in-depth experience with underwriting a variety of tax credits investments, and are known in the industry for responsive service. The high retention rate among our developer partners is the result of CAHEC’s ongoing commitment to meeting customers’ needs.
CAHEC’s development team comprises a long-tenured staff with decades of affordable housing and community development experience. Developers work with a single team member, who coordinates all phases of the deal from the initial planning to lease-up. Once development is underway, CAHEC’s nationally-certified asset management team closely monitors the financial performance, occupancy, physical condition, and compliance with provisions of Section 42 of the Internal Revenue Code. Development partners will also experience an innovative and convenient Web-based portal for submitting due diligence documents.
CAHEC’s Community Investments division is also available to advise developers interested in including CAHEC’s innovative Community Investments as part of their tax credit application. CAHEC’s Community Investments are an array of value-added services offered by CAHEC that include a number of grants and loans designed to invigorate and support historically underserved households and neighborhoods.
CAHEC’s lending program includes predevelopment and carryover loans for developments using CAHEC equity. Predevelopment loans provide funds to nonprofit entities for expenses related to planning a tax credit development. Carryover loans help with paying the costs needed to meet the 10 percent test requirements for a carryover allocation.
Developers may call upon CAHEC’s diverse expertise for guidance in all aspects of project development and property management. CAHEC provides a wide range of technical assistance aimed at helping developers plan and structure their developments.
For the less experienced developer, CAHEC can provide assistance in project planning, site selection, financial structuring, and applications for tax credits and financing as well as actual project construction and lease-up. For the more seasoned developer, we can be particularly helpful by providing insight into an unfamiliar local market or state.