1. W. Baltimore Street View: Before Renovations

2. W. Baltimore Street View: After Renovations

3. Sources and Uses Sources LIHTC Equity $7,522,584 FHA 221(d)(4)
Sources
LIHTC Equity
$7,522,584
FHA 221(d)(4)
$9,964,538
Seller Takeback
$6,500,000
Interim Income
$373,125
Maryland Housing Rehab Program - MF
$500,000
Deferred Fee
$853,902
TOTAL SOURCES
$25,714,148
Uses
Acquisition Expenses
$6,740,000
Construction
$11,652,903
Architectural
$250,872
Prof. Services and Fees
$427,717
Financing
$1,417,362
Partnership Expenses
$60,000
Carrying Costs + Reserves
$2,665,294
Fees
$2,500,000
TOTAL USES

4. Hollins House Rent Comparison

5. Fay Towers 1202 N. 1st Street 200 One Bedroom units Built in 1971
Richmond, VA
Gilpin Neighborhood
200 One Bedroom units
Built in 1971
Seniors

6. Fay Towers Existing

7. Fay Towers Proposed Replacement

8. Brookland Park Plaza Photo

10. Sources and Uses

11. Housing Authority Partnerships
Do interests align?
Preservation vs. mission
Is RAD a recapitalization tool or asset disposition?
Institutional implications for authorities
Budget
Staff
Services

12. HA Partnership Negotiations
Ownership
Ground Lease
Sale
Seller Note
Partnership – Co-Managing Member vs. Special Member
Economics
Developer Fee
Cash Flow
Reversionary Value
Decisions & Approvals
Design
Budget
Management
Management & Operations
PBRA vs. PBV
Staffing
Resident Screening