| Services We specialize in the use of HUD Section 108 load guarantees together with the Community Development Block Grant Program (CDBG) and Economic Development Initiative (EDI & BEDI) grants. With the exception of new housing construction per se, nearly any other housing and business/commercial/industrial/service project is potentially eligible in any community in the country. For its Clients Evaluate Project Eligibility, including meeting the national objectives of benefits to low and moderate income persons or eliminating slums and blight: and also activity eligibility, and whether public tests are met. Review Project Feasibility, including any evaluation of market studies, estimated costs, appraisals and job creation and/or retention claims. Provides Regulatory Guidance, including when federal guarantees can be used with the tax exempt financing, the qualification of pre-approved costs, when Davis Bacon wage rates must be applied, consolidated plan requirements, and reports and record keeping. Prepares Applications, Repayment schedules and CDBG underwriting, as assistance to local staffs regardless of who our clients may be. This includes a review of pro forma, financial statements, equity and other available financing from private sources to meet HUD CDBG underwriting requirements and guidelines, as well as Section 108 debt service coverage and security policies. Trains Local/State Agency and Non-profit Organization Staffs, based on more than twenty-two years of experience in doing so for clients, for the National Community Development Association Training Institute, and under HUD contracts, we develop local capacity as a natural part of our client work as well as specialized workshops. Assists in Negotiations with Private/Public Financing Sources, including other HUD and federal programs, the use of Low Income Housing and Historic Preservation Tax Credits, bank and other private sources, and private developmental interests. Tracks Federal Program Policy, including changes in the regulations, legislation, and the inevitable unwritten policy interpretations of HUD program managers. CCG also looks for opportunities for flexibility in policy to meet client interests, which in the past has led to the development of the first generic Section 108 load pools, the utilization of enhanced CDBG pledge for projects lacking adequate revenue or collateral resources, and the use of Section 108 as a letter of credit from of credit enhancement. Develops Small Business Loan Programs, including RLF intake and underwriting materials and standards, leveraged programs with private financing entities, and micro-business loans, using CDBG and/or Section 108 resources. Provides Technical Assistance and Forensic Regulatory “Work-outs”, when local government is faced with HUD audit findings, including corrective action, and support to legal counsel on program requirements.
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