8 The Building Blocks of a Strong Financing Plan
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8 The Building Blocks of a Strong Financing Plan


SO NOW I’D LIKE TO WELCOME ALLEN
KAUFMAN TO THE STAGE. [APPLAUSE]
[WHISTLING]>>HOLD THE APPLAUSE FOR LATER.
FIRST, I’M GOING TO INTRODUCE MY COMODERATER WILLIAMS KEEFE, WHO
IS A BRANCH CHIEF HERE. HE DESERVES AS MUCH SYMPATHY AS
YOU CAN GIVE HER, WHEN SHE ACCEPTED THE PROMOTION IN
JANUARY IN ’17, SHE DIDN’T REALIZE THAT WOULD REQUIRE
SHARING AN OFFICE WITH ME. [LAUGHTER]
SO SHE HAS PUT UP WITH A LOT IN THE LAST 15 MONTHS AND THEN
SOME. TO MY LEFT ARE OUR FOUR
PANELISTS. AND FOR SOME REASON WE HAVE A
VERY HEAVY MIDWESTERN PANEL TODAY.
TO MY IMMEDIATE LEFT IS CHAP FROM THE PROVINCE OF WISCONSIN,
WHICH BASICALLY THE SNOW ENDED YESTERDAY.
[LAUGHTER] CHAD DID NOT AGREE WITH MY
REQUEST TO BRING A PICTURE OF HIS WIFE AND THREE KIDS IN THEIR
CHEESE HEADS. BUT I’M TOLD THAT PICTURE IS
AVAILABLE THROUGHOUT THE PROVINCE.
THROUGH CHAD’S LEFT IS DARRELL McGEE.
MANY OF YOU HAVE HEARD OF DARRELL BUT FEW OF YOU HAVE EVER
SEEN HIM. [LAUGHTER]
DARRELL WORKS IN A SACK IN CHICAGO, ANSWERS ANY AND ALL
QUESTIONS ABOUT PICK REMOVAL AND 6 RELATED TOPICS.
BUT UNTIL TODAY HAS AVOIDED ANY PUBLIC SCRUTINY.
[LAUGHTER] BUT FOR THE NEXT HOUR AND 15
MINUTES, HE WILL HAVE TO DO SO. TO DARRELL’S LEFT IS A
TRANSACTION MANAGER HERE IN D.C. AND TO HER MISFORTUNE SHE’S ON
MY TEAM, SO SHE HAS TO DEAL WITH ME AS WELL EVERY DAY.
AND FINALLY TO THE FAR LEFT IS ARNOLD TAYLOR, WHO IS A
TRANSACTION MANAGER IN THE CHICAGO OFFICE.
SO WITH THAT BRIEF INTRODUCTION —
[APPLAUSE]>>ALL RIGHT.
HI, EVERYBODY. SO TODAY ON OUR PANEL WE’RE
GOING TO BE TALKING ABOUT HOW TO SUCCESSFULLY BUILD YOUR
FINANCING PLAN. YOUR FINANCING PLAN IS ALL THE
DOCUMENTATION THAT YOU HAVE TO SUBMIT TO THE RAD RESOURCE DESK,
THAT OUR TRANSACTION MANAGERS LOOK AT, REVIEW AND MAKE SURE
THAT EVERYTHING IS PROGRAMICALLY CORRECT AND HELPS YOU ADVANCE
ALONG WITH YOUR RAD CONVERSION. SO I DON’T KNOW IF WE’VE
MENTIONED IT YET, BUT THERE IS A RAD NOTICE.
WE ARE IN VERSION 3. WE RECOMMEND THAT YOU READ IT.
IT’S QUITE LONG. BUT IT WILL ANSWER ALL OF YOUR
QUESTIONS. THERE IS — I BELIEVE IT’S
ATTACHMENT 1A, WHICH GOES INTO A LOT OF DETAIL AND COVERS
EVERYTHING THAT WE’RE GOING TO BE TALKING ABOUT TODAY.
SO PLEASE READ IT. AND THE RAD NOTICE, JUST TO CALL
IT A DEFAMATION, DEFINES THE FINANCING PLAN AS A
DOCUMENTATION SUBMITTED FOR HUD 7 TO DEMONSTRATE THE COVERED
PROJECT CAN BE SUSTAINED PHYSICALLY AND FINANCIALLY FOR
THE TERM OF THE HALF CONTRACT, AT THE RENT LEVELS PERMITTED
UNDER THE DEMONSTRATION. MUST SHOW HOW THE PROJECT’S
IMMEDIATE AND LONG-TERM CAPITAL NEEDS WILL BE ADDRESSED.
SO IT’S A LOT OF WORDS. BUT I THINK IT WOULD BE REALLY
GREAT TO HEAR HOW THE T.M.’S VIEW AND UNDERSTAND WHAT A
SUCCESSFUL FINANCING PLAN IS.>>TO ME THE FINANCING — GNAWED
>>TO ME THE.THE FINANCING PLAN IS DEFINITELY TELLS WHETHER OR
NOT YOUR PROJECT IS VIABLE. IT PROVIDES INFORMATION ABOUT
WHETHER OR NOT YOU HAVE THE CAPACITY TO PROCESS THE
CONVERSION AND WHETHER YOU ARE ABLE TO MAINTAIN THE ASSETS
THROUGH THAT PERIOD OF THE HALF CONTRACT.
>>WELL, TO ME IT’S PRETTY MUCH WHAT EVERYBODY HAS BEEN TALKING
ABOUT MOST OF THE DAY. IT’S JUST A ROAD MAP THAT
ACTUALLY IDENTIFIES YOUR CURRENT AND FUTURE NEEDS.
AND PRETTY MUCH WHEN YOU CAN REPLACE THEM, WHETHER OR NOT THE
PROJECT IS FINANCIALLY VIABLE.>>GREAT.
ALL RIGHT. LET’S SEE WHAT THAT ROAD MAP
LOOKS LIKE. SO WHEN YOU GET YOUR CHAP, YOU
WILL BE GIVEN ACCESS TO THE RAD RESOURCE DESK.
WE’LL BE UPLOADING ALL OF THE DOCUMENTATION.
WHEN YOU LOG INTO YOUR RAD RESOURCE DESK, VERY SMALL PRINT,
SORRY. YOU’RE GOING TO SEE AT MOST UP
TO 22 REQUIREMENTS THAT YOU’RE GOING TO NEED TO SHOW PROOF OF
AND UPLOAD. 8 AND SO ALLEN IS GOING TO DISCUSS
SORT OF THE DETAILS. AS TO WHAT WE’RE LOOKING FOR.
>>AS YOU CAN SEE, THERE ARE A WHOLE LIST OF ITEMS.
THE LISTS VARY A LITTLE, DEPENDING ON WHETHER YOU’RE
GOINGED TO A NO-DEBT DEAL, A NON–FHA TAX CREDIT DEAL OR AN
FHA DEAL. LITERALLY WHAT HAPPENS AS YOU
COMPLETE AN ITEM AND UPLOAD TO THE RESOURCE DESK, WE GET A NOTE
INDICATING WHAT DATE YOU ACTUALLY UPLOADED IT AND TELLING
US WHAT THE DOCUMENT IS. AND SO YOUR T.M. CAN ACTUALLY
LOOK AT THAT DOCUMENT ONCE IT HAS BEEN UPLOADED TO SAY WHETHER
IT’S ACCURATE OR NOT OR WHETHER THERE’S PROBLEMS.
IT’S A VERY EFFICIENT SYSTEM, SO WE CAN GO THROUGH THE PROJECT AS
YOU’RE UPLOADING THINGS TO DETERMINE THINGS IF THINGS ARE
WORKING OR NOT WORKING OUT. NOW OBVIOUSLY THIS LIST LOOKS
OVERWHELMING, ESPECIALLY IF YOU’RE A PHA HASN’T DONE
DEVELOPMENT BEFORE. BUT MANY OF THE ITEMS ARE SIMPLE
ITEMS THAT ANY TIME THE DEVELOPMENT DEAL HAS TO HAVE,
WHETHER IT’S FOR RAD, WHETHER IT’S FOR TAX CREDITS OR
WHATEVER. ENVIRONMENT REPORT, A
DEVELOPMENT BUDGET. AN OPERATE WILLING PROFOR MA.
SOME OF THESE ARE ONLY FOR HUD BUT THROUGH ALL SORTS OF
DEVELOPMENT. IF YOU HAVE ANY QUESTIONS ABOUT
WHAT THEY MEAN, FEEL FREE TO ASK US, EITHER LATER TODAY OR WE’LL
GIVE YOU OUR EMAIL ADDRESSES. AND OBVIOUSLY IF YOU’RE NEW TO
DEVELOPMENT, YOU MAY WISH TO HIRE A DEVELOPMENT CONSULTANT.
BUT IN ANY CASE, PLEASE DON’T 9 SAY, OH, THIS IS OVERWHELMING.
WE CAN’T DO IT. BECAUSE WE’RE FROM THE
GOVERNMENT AND WE’RE HERE TO HELP YOU.
[LAUGHTER] AND PART OF THE REASON WE’RE
HAVING THIS SESSION RIGHT NOW IS SO THAT THIS LIST, THOUGH, IT
MAY LOOK OVERWHELMING AT THE END OF THE DAY, IT WON’T BE
OVERWHELMING. IT WILL BE SIMPLY A LIST OF
DOCUMENTS THAT YOU KNOW ARE COMMON TO ALL DEVELOPMENT DEALS,
THAT YOU’LL HAVE TO PUT TOGETHER.
BUT PLEASE ASK THESE QUESTIONS, BECAUSE THAT’S WHY WE’RE HERE.
>>ALL RIGHT. SO, YEAH, AS WE MOVE FORWARD,
WE’RE REALLY GOING TO BE FOCUSING ON HOW TO BUILD OUT
YOUR FINANCING PLAN, THOUSAND MAKE — HOW TO MAKE IT AN
EFFECTIVE FINANCING PLAN AND THE T.M.s ARE HERE TO HELP YOU GET
SOME INSIDER TIPS, THINGS NOT TO DO AND HOPEFULLY HELP YOU GET IT
RIGHT ON, IF NOT THE FIRST TRY, AT LEAST THE SECOND TRY.
THAT’S OUR GOAL. SO WE THOUGHT IT WOULD BE EASIER
TO SORT OF BREAK DOWN THESE 20-PLUS ITEMS INTO BUILDING
BLOCKS. AND HELP REORIENT HOW YOU’RE
LOOKING AT THE RAD RESOURCE DESK AND TO UNDERSTAND THAT EVERY
BUILDING BLOCK IS GOING TO BE BUILDING INTO AND SORT OF
REINFORCING YOUR FINANCING PLAN AS YOU MOVE FORWARD.
YOU REALLY CAN’T COMPLETE BLOCKS TWO, THREE AND FOUR WITHOUT
GETTING THROUGH BLOCK ONE SUCCESSFULLY.
AND SO WE’RE GOING TO START WALKING THROUGH THESE AND ALL OF
OUR PANELISTS WILL TALK ON EACH 10 OF THEM.
>>BUT FIRST JUST TO GIVE YOU THE GENERAL SCHEDULE, YOU SHOULD
START WITH THE ITEMS IN BUILDING BLOCK ONE, WHICH WE’LL DISCUSS
NEXT, WITHIN 30 TO 45 DAYS OF RECEIVING YOUR CHAP.
BUILDING BLOCK TWO YOU SHOULD START TWO TO FOUR MONTHS FROM
GETTING YOUR CHAP. BUILDING BLOCK THREE, FOUR TO
SIX MONTHS AND HOPEFULLY YOUR FINAL SUBMISSION, WHEN LITERALLY
WILL PUSH A BUTTON, SHOULD BE ABOUT 180 DAYS FROM GETTING YOUR
CHAP. NOW WE’RE GOING TO DISCUSS EACH
OF THE FOUR BUILDING BLOCKS ONE AT A TIME.
>>ALL RIGHT. SO IF WE TAKE THE BUILDING
BLOCKS AND OVERLAY THE 20 PLUS REQUIREMENTS IN THE FINANCING
PLAN, YOU KNOW, THIS IS WHAT IT LOOKS LIKE.
IT’S STILL A LOT. BUT HOPEFULLY IT WILL BE A
LITTLE MORE MANAGEABLE FOR ALL OF YOU.
AND HOPEFULLY IT’S A GOOD GUIDE INTO HOW YOU SHOULD START
PROCEEDING TO GET YOUR FINANCING PLAN TOGETHER.
THE FIRST BLOCK ONE IS I THINK THE HARDEST.
IT TAKES A LOT OF COORDINATION. IT REQUIRES A LONG LEAD TIME ON
A LOT OF TIMES, ESPECIALLY DUE DILIGENCE, REQUIRES COORDINATION
AMONG SEVERAL OFFICES. WE HAVE FOLKS FROM P.I.H. UP
HERE TALKING ABOUT THEIR BLOCK AND THEIR REQUIREMENTS.
SO IT’S BETTER TO START EARLY. THAN SORT OF IGNORING IT.
SO WE’RE GOING TO START DRILLING DOWN ON THE BUILDING BLOCKS AND
WE’RE GOING TO START WITH CHAD AND DARRELL AND THEY’RE GOING TO
BE TALKING ABOUT BUILDING BLOCK 11 ONE AND THE ASPECT THAT YOUR HUD
FIELD OFFICE PLAYS.>>SO I’M HERE TO REPRESENT THE
PUBLIC HOUSING STAFF YOU’VE BEEN WORKING WITH IN YOUR FIELD
OFFICE, ADMINISTERING PUBLIC HOUSING FOR GOD KNOWS HOW LONG.
AND SO WE’RE NOT TOO DISAPPOINTED AND WE’RE NOT GOING
TO TAKE IT PERSONALLY THAT YOU’RE LEAVING PUBLIC HOUSE.
WE’LL BE DISAPPOINTED IF YOU LEAVE WITHOUT TAKING CARE OF OUR
COMMITMENTS HERE. SO I THINK ONE OF THE BIG PARTS
OF THE RAD TRANSACTION IS STILL COMMUNICATING WITH YOUR PUBLIC
HOUSING FIELD OFFICE TO MAKE SURE ANY PRIOR COMMITMENTS YOU
HAD, PARTICULARLY ABOUT THAT PUBLIC HOUSING PROPERTY THAT
THEY’VE BEEN ADDRESSED. AND WE HAVE A FEW OTHER THINGS
AS WELL. SO THE FIRST THING IS PICK,
RIGHT. SO I’M SURE EVERYONE IN THIS
ROOM KNOWS WHAT PICK IS. BUT WHERE IT BECOMES CRITICALLY
IMPORTANT FOR RAD IS THAT WE USE IT TO TRACK ALL THE REMOVALS
THAT HAPPEN IN RAD. WE USE IT TO MAKE SURE THAT ALL
THE FUNDING IS HAPPENING CORRECTLY, RIGHT.
LIKE WE DON’T WANT PEOPLE GETTING DOUBLE SUSDY FOR UNITS
— DOUBLE SUBSIDY FOR UNITS. WE MAKE SURE THE WHOLE PROCESS
IS WORKING AND WE MAKE PEOPLE DO THINGS LIKE, IF YOU’RE PLANNING
TO REMOVE NON-DWELLING UNITS OR PROPERTY NOT IN PICK, WE WANT
YOU TO ACTUALLY PUT IT IN PICK, SO THAT WHEN WE REMOVE IT, WE
HAVE A SOLID INVENTORY OF WHAT’S HAPPENING.
AND SO THAT’S ONE THING TO THINK ABOUT RIGHT AT THE BEGINNING, IS
YOUR PICK INFORMATION CORRECT. 12 IF IT’S NOT, THAT’S SOMETHING
YOU COULD START WORKING ON TOMORROW, RIGHT.
LIKE MAKING SURE THAT THE UNITS ARE ALL IN PICK CORRECTLY, THAT
ANY PROPERTY THAT YOU PLAN TO REMOVE, ANY PROPERTY THAT’S
UNDER D.O.T., THAT’S IN PICK. AND SO PICK IS CRITICALLY
IMPORTANT TO OUR PROCESS, MAKING SURE ALL THIS HAPPENS.
ONE OF THE FIRST THINGS WE ASK YOU TO DO WHEN YOU GET A CHAP,
WITHIN THE FIRST 30 DAYS, IS ACTUALLY SUBMIT YOUR RAD REMOVAL
PICK APPLICATION. SO THAT’S AN IMPORTANT WAY TO
SIGNAL THAT FIRST YOU’RE ACCEPTING YOUR CHAP.
IT GIVES US A BETTER UNDERSTANDING OF HOW YOU’RE
EXPECTING YOUR PROJECT TO WORK, RIGHT.
LIKE YOUR APPLICATION WILL GIVE US SOME INFORMATION, BUT THE
PICK REMOVAL APPLICATION GIVES US EVEN MORE.
AND THAT’S YOUR CHANCE TO INCLUDE LIKE A SITE MAP, AN
EXPLANATION, ESPECIALLY OF ANY NON-DWELLING UNITS OR PROPERTY.
YOU KNOW, THE RAD AUTHORITY IS PRETTY SPECIFIC IN THAT YOU’RE
ALLOWED TO REMOVE NON-DWELLING UNITS AND PROPERTY, BUT IT HAS
TO SUPPORT THOSE RAD UNITS, RIGHT.
SO THAT’S SOMETHING THAT WE WANT TO SEE AND AS LONG AS YOU CAN
JUSTIFY THAT THE RAD RESIDENTS ARE GOING TO PRIMARILY BENEFIT
FROM THAT PROPERTY OR NON-DWELLING BUILDING OR UNITS,
IT’S SOMETHING THAT WE CAN ALLOW TO BE REMOVED.
THAT HAS TO BE INCLUDED IN YOUR PICK REMOVAL APPLICATION.
THE OTHER THING WE LOOK FOR IS THAT YOU’RE REMOVING ELIGIBLE
UNITS. 13 SO RAD ALLOWS YOU IN SECTION 18,
YOU KNOW, WE WORK TOGETHER SO THAT YOU CAN REMOVE THINGS WITH
EITHER INVENTORY. BUT IF YOU READ THROUGH THE RAD
NOTICE, YOU’LL SEE THAT THERE’S CERTAIN THINGS YOU CAN DO THAT
MIGHT DISQUALIFY A UNIT FOR RAD. AND THOSE REALLY ALONG THE LINES
OF MOVING FORWARD WITH A DEMO APPLICATION, RIGHT.
IF YOU HAVE ALREADY LOCATED PEOPLE BECAUSE OF THE DEMO
APPLICATION OR ACCEPTED PROTECTION VOUCHERS, THINGS LIKE
THAT WOULD MAKE IT — THOSE UNITS INELIGIBLE FOR RAD.
SO WE ASK THAT YOU, YOU KNOW, CONSIDER THAT AND IT’S SOMETHING
THAT WE ALSO CONSIDER WHEN WE’RE LOOKING AT YOUR PICK REMOVAL
APPLICATION. THE OTHER BIG THING THAT WE TRY
TO LOOK AT IS ANY PRIOR COMMITMENTS YOU’VE HAD, RIGHT.
SO IF YOU ALREADY HAVE AN EXISTING ENERGY PERFORMANCE
CONTRACT OR CAPITAL FUND FINANCING PROGRAM OR OPERATING
FINANCING PROGRAM, LIKE THOSE ARE ALL COMMITMENTS TO YOUR
PROPERTIES THAT YOU MADE WITH HUD AT SOME POINT.
AND WE WANT TO MAKE SURE THAT YOU’RE STAYING IN COMPLIANCE
WITH THOSE COMMITMENTS. NOW AT NO POINT SHOULD YOU THINK
THAT BECAUSE YOU HAVE THESE COMMITMENTS, YOU CAN’T
PARTICIPATE IN RAD. LIKE WE HAVE ALL SORTS OF WAYS
TO HELP YOU WORK THROUGH THOSE COMMITMENTS.
BUT THE IMPORTANT THING IS THAT YOU ACKNOWLEDGE THAT THEY’RE
THERE, RIGHT. SO WE CAN — ONE OF THE BIGGEST
MISTAKES WE SEE IS, YOU KNOW, SOMEONE FORGETTING ABOUT A
CCSP OR NOT ADDRESSING IT UNTIL 14 THE LAST MINUTE.
AND THEN IT’S MUCH HARDER FOR US TO DEAL WITH.
ALL OF THE COMMITMENTS CAN BE WORKED THROUGH, IT ALL REQUIRES
SOME KIND OF ACKNOWLEDGMENT RIGHT AT THE FRONT END AND
WORKING WITH THE FIELD OFFICE TO MAKE SURE THE RAD TRANSACTION IS
— ADDRESSES THOSE COMMITMENTS IF YOU HAVE ANY.
THE OTHER BIG THING THAT WE FOUND IS IF YOU HAVE A REPAYMENT
AGREEMENT, RIGHT. LIKE SOMETIMES WE MISS THESE,
EVEN AT THE HUD HEADQUARTERS LEVEL AND WE DON’T CATCH THEM
UNTIL THE LAST MINUTE. IF YOU KNOW YOUR HOUSING
AUTHORITY IS UNDER SOME KIND OF REPAYMENT AGREEMENT,
PARTICULARLY IF IT IMPACTS PUBLIC HOUSING, WE WANT TO KNOW
ABOUT THAT RIGHT AT THE BEGINNING.
AGAIN THERE’S — THAT DOESN’T DISQUALIFY YOU FOR RAD IN ANY
WAY. IT’S SOMETHING THAT WE WANT TO
BE ABLE TO ADDRESS AND WORK WITH AND HELP YOU OUT, SO THAT AS
YOU’RE DOING YOUR CONVERSION, YOU’RE ALSO ABLE TO ADDRESS THIS
PRIOR COMMITMENT WITH P.I.H. ONE OTHER BIG THING, THIS WAS
HIT ON EARLIER, IS ANNUAL PLAN. SO RAD HAS TO BE OUTLINED IN
YOUR ANNUAL PLAN OR IF YOUR HTW PLAN.
AND IT’S SOMETHING THAT WE LOOK FOR AND AGAIN THIS — YOU ALL
KNOW THIS. ANNUAL PLAN HAS TO GO OUT FOR
PUBLIC COMMENT, IT TAKE A WHILE. SO IT’S SOMETHING THAT — IT’S
BEST TO START THINKING OF RIGHT AT THE BEGINNING.
SO YOU HAVE PLENTY OF TIME DURING YOUR CONVERSION TO
ADDRESS IT. 15 THE FINAL THING YOU WANT TO
THINK ABOUT IS THE CONVERSION TYPE.
IF YOU’RE GOING PBBB, WE’LL STILL BE YOUR PARTNER.
YOU’RE STILL WORKING WITH THE SAME P.I.H. FIELD OFFICE.
WE WANT TO MAKE SURE AS YOU CONVERT TO P.B.B. YOU’RE READY
TO DO THAT. THAT YOU HAVE — IF YOU’RE GOING
TO BE ADMINISTERING THE VOUCHERS YOURSELF, YOU HAVE WRITTEN IT IN
AN ADMINISTRATIVE PLAN. AND THERE’S TIPS THAT WE HAVE
AND TRAINING THAT WE CAN PROVIDE TO HELP YOU IF YOU DO PLAN ON
CONVERTING TO P.B.B. AND YOU WANT TO ADMINISTER THOSE
VOUCHERS OR TO HELP YOU FIND A HOUSING AUTHORITY TO ADMINISTER
THEM. SO PING THE KEY FOR ALL OF THIS
IS THE COMMUNICATION. YEAH, I SAID AT THE BEGINNING
BUT DON’T FORGET ABOUT US, RIGHT.
JUST BECAUSE YOU HAVE THE CHAP, WE’RE STILL HERE, THE FIELD
OFFICE SHOULD BE THERE TO HELP YOU OUT.
AND ONE OF THE KEY THINGS TO REMEMBER ALSO IS ALL OF YOU
SHOULD HAVE LIKE A POINT OF CONTACT IN YOUR FIELD OFFICE.
SOMEONE THAT YOU PROBABLY WORK WITH QUITE A BIT ON
ADMINISTERING YOUR PUBLIC HOUSING PROGRAM.
AND MOST CASES THOSE ARE STILL GOING TO BE THE POINT OF CONTACT
TO HELP YOU THROUGH THE RAD TRANSACTION, RIGHT.
SO RIGHT AT THE BEGINNING, THEY’LL BE INVOLVED WITH THE
TRANSACTION MANAGER AND HOPEFULLY THERE TO HELP YOU
ADDRESS ALL OF THESE COMMITMENTS AND HELP YOU, YOU KNOW, KIND OF
DISCONNECT FROM THE VARIOUS 16 P.I.H. OBLIGATIONS YOU HAVE.
AND IF THEY’RE NOT THERE, BE PROACTIVE, LIKE REACH OUT AND
TALK TO THEM. BECAUSE WE DON’T WANT TO HAVE A
SITUATION WHERE YOUR RAD TRANSACTION PROGRESSES FORWARD
AND EVERYTHING IS GOING GREAT AND THEN AT THE LAST MINUTE,
P.I.H. SAYS YOU FORGOT ABOUT ALL OF OUR STUFF.
SO I THINK THE BEST THING TO DO, HOPEFULLY YOUR OFFICE IS ALREADY
ENGAGED. BUT IF THEY’RE NOT, IF YOU’RE
DOING RAD, LIKE FEEL FREE TO REACH OUT TO THEM.
YEAH, I WANT TO MAKE SURE I DON’T OWE YOU ANYTHING ELSE
BEFORE I DO THIS, RIGHT. IT WILL BE EASIER, YOU HAVE MORE
OPTION ON THE TABLE. I THINK THAT’S THE BEST ADVICE
YOU COULD DO IS JUST — AS SOON AS YOU GET THAT CHAP, FEEL FREE
TO BE PROACTIVE AND TALK TO YOUR FIELD OFFICE.
THEY SHOULD BE ABLE TO HELP YOU.>>I DO THE ALIBIS.
[LAUGHTER] THAT’S ALL I DO.
SO LET ME JUST TOUCH ON TWO THINGS THAT CHAD TALKED ABOUT.
DEALING WITH YOUR SUBMISSION. A LOT OF PEOPLE TAKE THEIR TIME
DEALING WITH PUTTING IN THE APPLICATION.
THAT HURTS YOU. BECAUSE WHAT HAPPENS IS THAT IT
BASICALLY EXCUSES YOU FROM BEING SCORED.
THEY’LL STILL COME OUT, BUT THEY WON’T ISSUE YOUR SCORE.
IF YOU DON’T HAVE IT IN PICK, YOU WILL BE SCORED.
IT WILL BE ISSUED. SO WE GET A LOT OF THAT, OF WE
SHOULD HAVE BEEN EXEMPT, BUT YOUR APPLICATION IS IN DRAFT,
NO, YOU CANNOT BE. 17 THAT’S A BIG THING.
ALSO DEALING WITH P.B.B. VERSUS PVRA.
IF YOU’RE DOING P.B.V. AND NOT DOING F.H.A., IT’S UNDER 58.
THAT’S SOMETHING YOU SHOULD START, RIGHT.
WE’VE HAD SITUATIONS WHERE PEOPLE SAY, HEY, LOOK, THIS IS
WHAT WE’RE GOING TO DO. WE’RE GOINGED TO P.B.B. AND AT
THE END WE GET A PHONE CALL THAT DOWN THE ROAD YOU’RE DOING PVRA.
PVRA REQUIRES THE ENVIRONMENTALS TO BE DONE BY HUD.
SO KIND OF KNOW WHAT YOU WANT TO DO UP FRONT EARLY, SO THAT YOU
DON’T END UP BEHIND THE EIGHT BALL SAYING NO, I’M SORRY NOW WE
CAN’T ACCEPT THE PART 58. BECAUSE BY OUR RULES, WE CAN’T
DO IT THAT WAY. WE MUST COME OUT AND DO YOUR
ENVIRONMENTAL. SO THOSE ARE THE TWO THINGS
WE’VE TALKED ABOUT BEFORE. WE TALKED ABOUT IT IN A
RESTAURANT HOW ARE WE GOING TO DEAL WITH THIS.
AND THOSE ARE THE THINGS THAT END UP HAPPENING, PEOPLE END UP
HAVING A PROBLEM, THAT THEY REALLY CHANGED THEIR MIND, DID
NOT CHANGE IN THE APPLICATION. DIDN’T LET THEIR TRANSACTION
MANAGER AND THEIR FIELD OFFICE KNOW SOME THINGS WENT WRONG.
LAST THING ABOUT DEALING WITH UNITS.
WE GET A LOT OF THE APPLICATIONS THAT HAVE A WHOLE BUNCH OF UNITS
THAT PROBABLY SHOULD NOT BE THERE.
HOWEVER, THERE ARE TIMES WHEN YOU CAN DO THINGS UNDER
DIMINIMUS. SO WHEN YOU’RE PLACED UNDER
REVIEW OR GET A NOTICE BACK THAT SOMETHING IS WRONG, IT’S
GENERALLY SOMETHING THAT WE 18 DON’T HAVE AN EXPLANATION FOR.
SO IT’S VERY KEY THAT EXPLANATION COMES IN AND SAYS,
OH, THIS IS WHAT’S HAPPENING. BECAUSE WE’RE SURE THE RAD
TRANSACTION MANAGER DOESN’T KNOW IT EITHER.
AND THEY’RE THE ONES THAT ULTIMATELY, WELL, I SHOULD BE
GOING THIS WAY, RAD TRANSACTION MANAGERS ULTIMATELY ARE THE ONES
THAT ARE GOING TO DECIDE WHICH UNITS ARE ELIGIBLE FOR
DIMINIMUS. THINGS OF THAT NATURE.
IF IT’S PART OF YOUR DEAL. JUST KIND OF KEEP THOSE THINGS
IN MIND WHEN YOU’RE SUBMITTING YOUR APPLICATIONS.
>>I HAVE ONE MORE QUICK THING, JUST BECAUSE I’M UP HERE AND IT
CAME TO ME. IF YOU’RE PLANNING AND CLOSING
OUT YOUR INVENTORY ENTIRELY, IF YOU’RE PLANNING ON CONVERTING TO
RAD OR SOME COMBINATION OF RAD AND SECTION 18 AND GETTING OUT
OF THE PUBLIC HOUSING BUSINESS ENTIRELY, WE HAVE A NOTICE TO
HELP YOU OUT. WE HAVE A CLOSE-OUT NOTICE, WE
HAVE A LOT OF NOTICES. THIS ONE IF YOU LOOK, A
CLOSE-OUT NOTICE THAT WALKS YOU THROUGH THE PROCESS.
THE FIELD OFFICE SHOULD HELP YOU.
I WANT YOU TO BE AWARE IT’S SOMETHING TO LOOK AT.
>>SEE CHAD DID THAT, BECAUSE HE KNOWS THAT WHEN YOU SUBMIT YOUR
APPLICATION, WE’RE GOING TO LOOK.
TO SEE IF THIS WILL PROBABLY TERMINATE YOUR A.C.C.
AND WE’RE GOING TO SEND YOU THE NOTES.
WE’RE GOING TO SEND YOU A COPY OF THE NOTES.
WE’RE GOING TO TELL YOU. 19 IT LOOKS AS IF YOU CAN
TERMINATE. SO DO YOUR CHECK LIST, PLEAD
FILL THIS OUT AND GET WITH YOUR FIELD OFFICE.
SO, YEAH, LOOK, EVERYBODY HERE AT HUD, LIKE ALLEN SAID, WE’RE
HERE TO HELP YOU. AND SOME OF THE THINGS YOU MAY
NOT HAVE THOUGHT OF, TRUST ME, WE’RE THINKING ABOUT EVERYTHING.
WE DO MISS SOME THINGS. PLEASE FORGIVE US.
BUT WE’RE TRYING TO MAKE THE PROCESS MORE STREAMLINED FOR YOU
WITHIN THE REGULATIONS. SO THAT YOU CAN GET TO YOUR
GOAL, RIGHT.>>GOOD.
>>I’M GOOD.>>GREAT.
THANK YOU. SO THE OTHER PART OF BLOCK ONE,
SO THINGS THAT YOU SHOULD BE THINKING ABOUT EARLY ON AND
STARTING RIGHT AWAY HAS TO DO WITH RESIDENT RIGHTS, YOU HAD A
REALLY GREAT PANEL WITH TOM, RUDY AND CLAUDE DIXON TALKING
ABOUT IT. SO I’M NOT GOING TO GO INTO A
LOT OF DETAIL. BUT JUST KNOW THAT AS A
TRANSACTION MANAGER, WHEN THEY’RE REVIEWING YOUR FINANCING
PLAN, THEY’RE GOING TO BE ASKING YOU ALL OF THESE QUESTIONS.
THEY’LL WANT TO KNOW WHAT DATE DID YOU SEND OUT YOUR G.I.N.
YOU HAVE TO UPLOAD EVIDENCE OF YOUR RESIDENT MEETING, WITH
RESIDENT COMMENTS. WE WANT TO SEE THAT YOU HAVE
ANSWERED RESIDENT QUESTIONS. SO WE WANT TO KNOW AND WE WANT
TO MAKE SURE THAT WE ARE PROTECTING THE RESIDENTS
THROUGHOUT THIS PROCESS. JUST TO SAY ADNAUSEAM.
EVERY RESIDENT HAS THE RIGHT TO 20 RETURN, SO COMMUNICATING THIS
EARLY AND OFTEN WITH YOUR COMMUNITIES IS KEY TO I THINK A
SUCCESSFUL RAD CONVERSION. AND AS WELL AS A FINANCING PLAN,
BECAUSE IT WON’T HAVE ANY HOLD-UPS IN ANY ADDITIONAL
REVIEWS. SO I THINK IT WOULD BE GREAT IF
OTTAWA COULD SALS TALK ABOUT — THEY’LL TALK ABOUT THE OTHER
ITEMS WITHIN RESIDENT RATES.>>SO ANOTHER ITEM WITHIN THE
RESIDENT RIGHTS THAT IS AN EXHIBIT OF YOUR FINANCING PLAN
IS THE UP-FRONT CIVIL RIGHTS REVIEW.
SO IT IS THE RESPONSIBILITY OF THE FHA SO EN– TO COMPLY WITH
APPLICABLE CIVIL RIGHTS LAWS. AND TO HELP TO ASSIST YOU WITH
THAT, WE HAVE THE UP-FRONT CIVIL RIGHTS REVIEW.
IT IS DESIGNED TO PROTECT THE RESIDENTS FROM PERMANENT
DISPLACEMENT FOR ANY REASONS, RACE, SEX, COLOR, RELIGION, A
FAMILY STATUS AND DISABILITY. AS WELL AS ELIMINATING BUILDINGS
IN AREAS OF MINORITY CONCENTRATION OUTSIDE OF AREAS
OF OPPORTUNITY. AND I THINK IT WAS PREVIOUSLY
MENTIONED THAT THIS INFORMATION GOES — IS MORE DETAILED IN THE
HOUSING NOTICE, 2016-2017. SO I DON’T EXPECT YOU TO
REMEMBER THAT. BUT IT’S TITLED “THE RAD FAIR
HOUSING CIVIL RIGHTS AND RELOCATION NOTICE.”
I BELIEVE THAT TOM MENTIONED THE NOTICE EARLIER AS WELL IN HIS
PANEL. AS YOU’RE DOING YOUR FINANCING
PLAN, WILL MY PROPERTY HAVE TO GO THROUGH THE UP-FRONT CIVIL
RIGHTS REVIEW. SO IF YOUR PROJECT INCLUDES ONE
OR MORE OF THESE FOUR TRIGGERS, 21 THEN YOU NEED TO SUBMIT YOUR
PROJECT TO FAIR HOUSING AND EQUAL OPPORTUNITY TO REVIEW YOUR
DOCUMENTS FOR THE UP-FRONT CIVIL RIGHTS REVIEW.
SO ONE OF THE FIRST ONES IS UNIT CONFIGURATION.
SO ARE YOU CHANGING THE CURRENT STRUCTURE, THE CURRENT WAY THAT
YOUR PROJECT IS CONFIGURED, ARE YOU CHANGING THAT CONFIGURATION?
ARE YOU COMBINING EFFICIENCIES, MAYBE THE EFFICIENCIES YOU HAVE
IN YOUR BUILDINGS ARE TOO SMALL AND YOU CAN COMBINE THEM AND
MAKE THEM ONE BEDROOMS. IF SO, THEN YOU NEED TO SUBMIT
FOR THE UP-FRONT CIVIL RIGHTS REVIEW.
ARE YOU ELIMINATING FOUR BEDROOMS, FIVE BEDROOMS, EVEN
PHAs HAVE LARGER UNITS. IF THE UNITS ARE NO LONGER
MARKETABLE, AND YOU DON’T HAVE ANYONE ON THE WAITING LIST, YOU
DON’T HAVE ANYONE CURRENTLY IN THE PROJECT THAT CAN USE THOSE
UNITS, YOU CAN ALSO SUBMIT TO FHEO FOR THAT REVIEW AS WELL.
THE SECOND ONE IS MAYBE DECREASING THE TOTAL NUMBER OF
UNITS. SO I HAVE A PROJECT THAT I’M
WORKING ON NOW. IT IS A 20-STORY BUILDING WITH
357 UNITS. AND THEY’RE REDUCING SEVEN OF
THEM TO ACCOMMODATE A NEW ELEVATOR.
SO BECAUSE OF THAT, THEY’RE GOING TO HAVE TO SUBMIT FOR
UP-FRONT CIVIL RIGHTS REVIEW. AND THAT INCLUDES THE REDUCTION.
IF YOU’RE REDUCING ANY OF THE UNITS UNDER THE DEMINIMUS, YOU
NEED TO SUBMIT. THE THIRD ONE IS CHANGE IN
OCCUPANCY. THE PROJECT RIGHT NOW A FAMILY,
IT HAS A FAMILY POPULATION AND 22 YOU WANT TO INTRODUCE THE
ELDERLY PREFERENCE OR YOU WANT TO INTRODUCE SOME RESTRICTIONS
OR PREFERENCES BASED ON AGE OR DISABILITY.
YOU HAVE TO ALSO SUBMIT. THE FINAL ONE IS NEW
CONSTRUCTION AND TRANSFER OF ASSISTANCE.
SO IF YOUR PROJECT INVOLVES NEW CONSTRUCTION OR IF THE UNITS ARE
BEING TRANSFERRED TO A NEW SITE, EITHER THROUGH NEW CONSTRUCTION
OR ON THE EXISTING SITE, YOUR CIVIL RIGHTS REVIEW MUST INCLUDE
A SITE AND NEIGHBORHOOD STANDARDS REVIEW PACKAGE AS
WELL. THE QUESTION IS — SO WE’VE
ANSWERED THE PURPOSE AND THEN WE’VE ANSWERED WHY.
SO THE PURPOSE — SO THE QUESTION IS WHEN DO YOU SUBMIT?
SO REMEMBER THE UP-FRONT CIVIL RIGHTS REVIEW, I THINK KARA
MENTIONED IT EARLIER, IT’S CONSIDERED A PRE-FINANCING PLAN
APPROVAL ACTIVITY. SO HENCE THE WORD “PRE” BEFORE
THE FINANCING PLAN. FHEO I BELIEVE THEY HAVE CUT
DOWN TREMENDOUSLY, IMPROVED ON THEIR TIMING OF THESE REVIEW
DOCUMENTS. BUT THE DOCUMENTS SHOULD BE AS
EARLY AS POSSIBLE, AT LEAST 90 DAYS PRIOR TO SUBMITTING YOUR
FINANCING PLAN. YOU NEED TO SUBMIT THESE
DOCUMENTS FOR APPROVAL FROM FHEO.
IT’S IMPORTANT TO NOTE THAT FHEO HAS A FAIR HOUSING AND EQUAL
OPPORTUNITY, HAS A LIMITED VIEW OF THE RAD RESOURCE DESK.
I KNOW LEANNE WENT THROUGH ALL OF THE VIEWS OF — I BELIEVE SHE
TOUCHED THE REVIEWS OF THE RAD RESOURCE DESK.
FHEO HAS A LIMITED REVIEW. 23 MAKE SURE YOUR DOCUMENTS ARE
UPLOADED IN THE CORRECT GRID ON THE RAD RESOURCE DESK.
OR THEY WILL NOT BE ABLE TO REVIEW YOUR — ANY OF YOUR
UP-FRONT CIVIL RIGHTS REVIEW DOCUMENTS.
MAKE SURE THEY ARE UPLOADED. AND MAKE SURE THAT IT’S EARLY.
AND IF YOUR PROJECT IS NOT GOING TO HAVE ANY OF THE TRIGGERS,
THERE’S AN N.A. BUTTON, NOT APPLICABLE BUTTON THAT’S NEXT TO
ON THE RAD RESOURCE DESK, MAKE SURE YOU SELECT THAT, SO THAT
FHEO ISN’T LOOKING FOR REVIEW FOR THESE PROJECTS, BECAUSE IT
HASN’T BEEN SELECTED.>>SO ARNOLD, DO YOU WANT TO
TALK.>>JUST TO PIGGYBACK ABOUT WHAT
SHE SAID AS FAR AS THE BUTTON. IF YOU GET A CHAP AND CLOSE TO
SUBMITTING YOUR — NOT EVEN IF YOU’RE CLOSE, IF YOU HAVE A
CHAP, AND YOUR INITIAL APPLICATION INDICATED THAT YOU
WERE GOING TO DO NEW CONSTRUCTION, AS SOON AS YOU
HAVE ACCESS TO THAT DESK, THAT 180-DAY FINANCING PLAN
SUBMISSION, THOSE BUTTONS NONAPPLICABLE, GO AHEAD AND
CLICK THOSE RIGHT AWAY. BECAUSE WE GET TRIGGERS EACH AND
EVERY WEEK BASICALLY INDICATING THAT YOU HAVEN’T SUBMITTED YOUR
UP-FRONT REVIEWS THAT MAY BE REQUIRED.
SO GO AHEAD AND CLICK ON THOSE. BUT IN REFERENCE TO RELOCATION
PLANS, RELOCATION PLANS ARE GENERALLY REQUIRED — ACTUALLY
REQUIRED WHEN YOU INTEND TO USE HOME AND C.D. FUNDS.
SO THOSE ARE REQUIRED. ALSO WHEN YOU’RE GOING TO DO A
TRANSFER OF ASSISTANCE, AND ANY TIME THAT TENANT RELOCATION IS
GOING TO BE GREATER THAN 12 24 MONTHS, YOU HAVE TO HAVE A PLAN.
AND AS CLAUDE SPOKE EARLIER, REALLY ANY TIME THAT YOU’RE
GOING TO RELOCATE TENANTS, WE WOULD LIKE TO SEE A RELOCATION
PLAN. AND YOU WANT TO GIVE THAT C.P.D.
REVIEWER, IF IT’S REQUIRED, YOU WANT TO GIVE THAT PERSON
ANYWHERE FROM 30 TO 60 DAYS AND SOMETIMES IT MAY EVEN TAKE 90
DAYS, DEPENDING ON WHAT YOU ACTUALLY HAVE IN YOUR PLAN OR
WHAT YOU MIGHT BE MISSING FROM THE PLAN.
Y , THAT’S GREAT. THESE ALL TAKE A LOT OF TIME AND
EFFORT TO PUT TOGETHER. THAT’S WHY RERECOMMEND STARTING
THESE ONES RIGHT OFF THE BAT. TRANSACTION MANAGERS AND MAYBE
EVEN AS A BRANCH CHIEF, AS YOU’RE REVIEWING APPROVAL MEMOS
COMING IN FROM FINANCING PLANS, OF THESE REQUIREMENTS, WHICH ONE
DO YOU SEE P.H.A.s TRIP UP THE MOST ON?
>>TWO P.H.A.s WANTED TO ELIMINATE THE FIVE AND
SIX-BEDROOM UNITS AND HAD FIVE-BEDROOM ELIGIBLE FAMILIES
AND THEN THE ORIGINAL PLAN THEY WERE NOT GOING TO ACCOMMODATE
THOSE FOLKS’ NEEDS FOR FIVE-BEDROOM UNITS.
IF YOU’RE GOING TO ELIMINATE THE LARGE UNITS, BECAUSE IN GENERAL
THERE’S LESS DEMAND, YOU NEED TO MAKE SURE THAT IF YOU HAVE A FEW
FAMILIES WHO ARE ELIGIBLE FOR THOSE LARGE UNITS, THAT YOU FIND
DECENT-SIZED HOUSING FOR THEM. OR ELSE YOU WILL TRIP UP
ON THAT.
>>SO WHAT I FIND IS, ONE, THE ITEMS THAT I SPOKE OF, THE FHEO
UP-FRONT RIGHTS REVIEW WASN’T SUBMITTED IN TIME.
SO A LOT OF TIMES THE APPLICATION — THE FINANCING 25
PLAN IS SUBMITTED. THEY HAVE EITHER TIMELINE
RESTRICTIONS AND THEY NEED A QUICK TURNAROUND, BUT BEFORE WE
CAN EVEN START TO REVIEW THE ACTUAL FINANCING PLAN, WE HAVE
TO WAIT UNTIL FHEO APPROVES THE SITE.
A LOT OF TIMES THAT — IF IT IS NEW CONSTRUCTION OR IF IT IS A
TRANSFER OF ASSISTANCE, YOU KNOW, WE WANT TO MAKE SURE THAT
THAT SITE WILL BE APPROVED BEFORE WE’LL PROCEED WITH THE
REVIEW. SO JUST MAKING SURE THAT YOU GET
ALL OF THE DOCUMENTS EARLY AND YOU COMMUNICATE WITH YOUR T.M.,
YOUR TRANSACTION MANAGER, THAT YOU’LL HAVE SOME OF THESE KEY
ITEMS IN YOUR FINANCING PLAN.>>OKAY.
ACTUALLY BASICALLY TOUCHED ON BOTH OF THEM.
BUT JUST AS A POINT OF EMPHASIS, THE RELOCATION PLAN, THERE IS A
SUGGESTED RELOCATION PLAN WITHIN THE NOTICE, WITHIN THE NOTICE
THAT SHE SPOKE OF, 2016-2017. A LOT OF TIME PANELIST MAY HAVE
A PLAN, BUT DON’T HAVE A BUDGETARY AMOUNT WITHIN THAT
PLAN AND TRY TO GET AROUND IT. YOU’RE NOT NECESSARILY GETTING
AROUND IT WHEN C.P.D. IS REVIEWING THE PLAN.
MAKE SURE YOU COVER THAT AMOUNT TO DO WHAT YOU SAY YOU INTEND TO
DO.>>ONE MORE THING TO ADD.
THERE ARE TEMPLATES ON THE RAD RESOURCE DESK.
I KNOW THIS IS A LOT OF INFORMATION AS FAR AS THE
SUBMISSIONS. THERE ARE TEMPLATES ON THE RAD
RESOURCE DESK THAT WILL ASSIST YOU IN COMPLETING YOUR
SUBMISSION.>>GREAT. 26
SO THE LAST PART OF THIS BUILDING BLOCK IS DUE DILIGENCE
AND SO I KNOW THAT WE HAVE BIG GROUP OF PEOPLE HERE, P.H.A.,
DEVELOPERS, CONSULTANTS. BUT DUE DILIGENCE WORK IS VERY
IMPORTANT. AND IT’S CRITICAL.
AND IT’S ALSO LONG LEAD TIME ITEMS, THEY COST MONEY.
AND YOU’RE GOING TO HAVE TO REVIEW THEM.
AND SO THE DUE DILIGENCE PORTION OF IT, YOU KNOW, IT CAN BE
REALLY DENSE INFORMATION THAT YOU’RE GETTING BACK FROM YOUR
PROVIDERS. BUT WE STRONGLY ENCOURAGE YOU
AND YOU SHOULD BE READING THROUGH EVERYTHING.
AND UNDERSTANDING ALL OF THE REPORTS, UNDERSTANDING ALL OF
THE IMPLICATIONS THAT EACH OF THESE REPORTS ARE PROVIDING YOU.
AND UNDERSTANDING AND BEING UP FRONT WITH HUD AND YOUR
TRANSACTION MANAGER OF THE FINDINGS IN THESE REPORTS.
YOU DON’T WANT, YOU KNOW, AS WE’RE DOING AN ENVIRONMENTAL
REVIEW TO FIND THAT, OH, WAIT, YOU WERE IN A FLOOD PLAIN.
YOU SHOULD HAVE KNOWN THAT, BECAUSE YOU READ THROUGH YOUR
ENVIRONMENTAL REPORT. SO THAT’S JUST A QUICK OVERVIEW
OF THE DUE DILIGENCE. DID YOU WANT TO TALK ABOUT
ANYTHING MORE SPECIFICALLY?>>WHAT KARA TALKED ABOUT IS
VERY IMPORTANT. WE DID FIND A PROJECT THAT WAS
CLOSE TO GETTING ITS R.C.C. BUT THEN WE FOUND OUT THAT IT
WAS, INDEED, LOCATED IN A FLOOD WAY.
THE P.H.A. SAID THIS WAS YEAR FOR 50 YEARS.
OUR ANSWER WAS, SORRY. NONETHELESS, WE CAN’T ALLOW YOU 27
TO CONVERT IT TO RAD AND FOR MA MATTER YOU CAN’T SPEND CAPITAL
FUNDS ON THE PROPERTY STARTING TODAY.
SO YOU DO NEED TO DO THESE THINGS ASAP.
ONE IMPORTANT THING TO NOTE, YOU CAN USE YOUR CAPITAL FUNDS, PAY
FOR THESE LEGITIMATE PRE-DEVELOPMENT COSTS.
THE RAD NOTICE SIMPLY SAYS THAT IF YOU WANT TO SPEND MORE THAN
$100,000, YOU NEED TO GET FIELD OFFICE APPROVAL.
BUT THESE ARE THINGS THAT YOU HAVE TO DO, SO DO NOT BE SCARED
AND SAY, OH, THIS COSTS TOO MUCH.
WE CAN’T DO IT. WE’VE GOT TO DO IT.
IF YOU HAVE THE CAPITAL FUNDS, YOU ARE FREE TO USE THEM TO PAY
FOR PHASE ONE ENVIRONMENTAL ASSESSMENT FOR THE TITLE REPORT.
FOR THE APPRAISAL, ET CETERA, ET CETERA.
>>YEP. AND JUST A QUICK PLUG, YOU KNOW,
AS OF FEBRUARY 1ST, ALL OF THE P.H.A.s THAT ARE GOING RAD,
NEED TO SUBMIT THE NEW ECNA TOOL.
IF APPLICABLE, THE NARRATIVE AS WELL.
THAT’S A CHANGE IN COURSE FROM WHAT WE WERE RECEIVING FROM THE
BEGINNING OF RAD. AND DEFINITELY START EARLY ON
THE ECNA TOOL. DEFINITELY TALK TO YOUR
PROVIDERS ON THAT. THERE’S A LEARNING CURVE, SO
DEFINITELY START EARLY FOR THE ECNA TOOL.
>>IT SEEMS THAT SINCE FEBRUARY 1ST, WHEN THE NEW TOOL
WAS REQUIRED, PROBABLY 50% THAT HAVE BEEN SUBMITTED HAVE BEEN
SUBMITTED THE OLD WAY, WE’VE HAD TO RETURN THEM TO THE P.H.A.s. 28
SO PLEASE TAKE CAREFUL NOTE OF THAT NEW REQUIREMENT, WHICH WAS
EFFECTIVE FEBRUARY 1ST.>>AND SO THIS IS LIKE I SAID
IT’S A LOT OF INFORMATION. IT’S A LOT OF WORK.
A LOT OF LEGWORK. FOR THE T.M.s, HOW DO YOU SEE
P.H.A. EASE — SORT OF DEALING WITH THIS?
DO THEY HAVE PEOPLE OUT OF HOUSE HELPING OUT?
>>SO A COMBINATION OF BOTH. SOME PROJECTS THEY DO DEVELOP —
THEY DO HIRE DEVELOPMENT CONSULTANTS.
AND SOME ARE PART OF THE DEVELOPMENT PARTNERS, ARE PART
OF THE OWNERSHIP STRUCTURE. SO IT’S IMPORTANT TO NOTE TO NOT
LET THE MANY LAYERS OF THE RAD CONVERSION DISCOURAGE YOU FROM
PARTICIPATING IN THE PROGRAM. THINK ABOUT HIRING A DEVELOPMENT
CONSULTANT. MANY IN THE AUDIENCE HAVE YELLOW
TAGS. REMEMBER YELLOW.
SO I’M SURE THAT THEY HAVE A FAR BETTER SPIEL OF WHY IT IS
IMPORTANT TO HAVE A DEVELOPMENT CONSULTANT AND I’M SURE THEY’LL
HAVE BUSINESS CARDS, TOO. A KNOWLEDGER CONSULTANT CAN HELP
YOU CAPITALIZE ON YOUR OPPORTUNITIES.
IT CAN HELP YOU SAVE TIME, REMEMBER THERE ARE A LOT OF KEY
DEADLINES IN THE RAD PROGRAM. NAVIGATING THE MANY RAD-RELATED
REQUIREMENTS AND HUD NOTICES. IT SEEMS LIKE EVERY PANEL HAS A
DIFFERENT NOTICE. AND SO, YOU KNOW, THEY’LL ASSIST
YOU WITH THAT AS WELL. HELP WITH COORDINATION WITH THE
RESIDENTS. WE HAD A LOT OF TALK EARLIER
ABOUT RESIDENCE COORDINATION AND HOW THAT’S IMPORTANT. 29
I KNOW WE HEARD A LOT OF COMMENTS FROM RESIDENTS ABOUT
THE RAD CONVERSIONS. SO, YOU KNOW, THEY CAN ASSIST
WITH THAT AS WELL. AS WELL AS UNTANGLING ANY
RESOURCE CONSTRAINTS. SO 50/50, A LOT OF THE P.H.A.s
THAT I KNOW THAT HAVE USED DEVELOPMENT CONSULTANTS, THEY
FIND IT TO BE VERY BENEFICIAL.>>AND WHETHER YOU’RE HIRING A
DEVELOPMENT CONSULTANT OR YOU DID IT YOURSELF, WHOMEVER YOU
GET THAT REPORT BACK, AND DO THE DUE DILIGENCE, MAKE SURE YOU
READ IT AND RE-READ IT. YOU KNOW, BECAUSE WE’VE HAD
TIMES WHERE DOCUMENTS HAVE BEEN UPLOADED AND WE’VE, YOU KNOW,
CONTACTED THE P.H.A. ABOUT AN ISSUE AND IT WAS LIKE, WHAT, I
DIDN’T KNOW THAT WAS IN THERE. WELL, I ASKED THEM TO REMOVE
THAT. SO IF YOU’VE GOT SOMEBODY THAT’S
DOING SOMETHING, DOING THE UPLOADS FOR YOU LIKE THAT, MAKE
SURE YOU PAY ATTENTION TO WHAT THEY’RE UPLOADING AND KNOW
WHAT’S IN THERE. AND YOU HAVE AN ISSUE, BEFORE
YOU PUSH THE BUTTON, GET IN CONTACT WITH YOUR RAD MANAGER
AND FIND OUT WHAT OUT WHAT THE ISSUE IS.
AND GET IT RESOLVED.>>THAT’S ALL REALLY HELPFUL.
OF THE DUE DILIGENCE ITEMS, JUST FROM MY EXPERIENCE, I WOULD SAY
THE ENVIRONMENTAL IS THE ONE THAT IF YOU’RE DOING A PART 50,
WHERE HUD HAS TO DO YOUR REVIEW AND WE HAVE A PANEL LATER THIS
AFTERNOON THAT WILL TALK MORE ABOUT THE ENVIRONMENTAL REVIEWS,
THAT’S THE ONE THAT I SEE P.H.A.s TRIP UP THE MOST.
IT HAS THE LONGEST LEAD TIME, TIMING IS A LITTLE WONKY WITH 30
IT. SO THAT’S ONE THAT I WOULD SAY
FOCUS THE MOST ON, READ ALL OF YOUR ENVIRONMENTAL REPORTS.
FRONT TO BACK. DO YOU HAVE ANY THAT YOU FIND?
>>YEAH. SOME OTHER BEST PRACTICES,
MAKING SURE THAT YOUR PROJECT ADHERES TO THE RAD OWNERSHIP AND
CONTROL REQUIREMENTS. THEY ARE HIGHLIGHTED IN THE RED
NOTICE. IF YOU’RE USING AN OWNERSHIP OR
CONTROL AGREEMENT, CONTACT YOUR T.M. EARLY.
MAKE SURE THAT THE CONTROL AGREEMENT IS ONE THAT WILL BE
APPROVED BY RECAP, AS WELL AS THE O.G.C., THE OFFICE OF
GENERAL COUNSEL. IT’S FROM MY UNDERSTANDING, THAT
NOT A LOT OF, THAT VERY FEW CONTROL AGREEMENTS HAVE BEEN
APPROVED OUTSIDE THE ONE THAT HUD REGULARLY USES.
MAKE SURE YOU CONTACT YOUR T.M., ASK THEM FOR AN EXAMPLE IF YOU
NEED ONE. OR JUST SEND YOUR VERSION TO THE
T.M. AND SEE IF THEY CAN GET A KIND OF CURSORY REVIEW.
ANOTHER ONE IS MAKING SURE THAT YOUR COSTS ARE REASONABLE,
PROVIDE EXPLANATIONS, IF NOT, MAKING SURE YOUR SOURCES AND
USES, IF YOU HAVE A PILOT, PROVIDING A LEGAL OPINION.
JUST REALLY GOING THROUGH. I KNOW IN THE RAD RESOURCE DESK
THEY HAVE A VERY USEFUL TOOL, THE FINANCING PLAN TEMPLATE.
I THINK IT’S THE GUISE THAT THEY HAVE, THAT VERY USEFUL.
IF YOU HAVE ANY QUESTIONS, YOUR TRANSACTION MANAGER IS
DEFINITELY YOUR CONTACT, IT’S YOUR FIRST LINE OF DEFENSE, IF
YOU HAVE ANY QUESTIONS.>>JUST ONE LAST THING. 31
IN REFERENCE TO THINGS LIKE THE ENVIRONMENTAL OR ANY OF THE
REPORTS, WE CAN’T DO ANYTHING IF YOU UPLOAD A DRAFT REPORT AS
YOUR FINAL REPORT. IF YOU UPLOAD A DRAFT AND TRY TO
HIT THE BUTTON, WE’RE JUST GOING TO RETURN IT.
BECAUSE WE CAN’T DO ANYTHING WITH IT.
>>GREAT. ALL RIGHT.
THAT TAKES CARE OF BUILDING BLOCK ONE.
SO NOW MOVING ON TO BUILDING BLOCK TWO, SO EVERYTHING THAT
YOU’VE LEARNED AND DISCOVERED AND, YOU KNOW, WORKED THROUGH IN
THAT FIRST PHASE, IT’S GOING TO INFORM THE NEXT PHASE.
AND IT’S GOING TO HELP BUILD OUT, YOU KNOW, SOME OF THE KEY
ITEMS, ESPECIALLY THE ITEMS THAT AS TRANSACTION MANAGERS AND AS
BRANCH CHIEFS, THE PART THAT WE REALLY DIG INTO AND REALLY SCRUB
WHEN WE’RE DOING OUR TRANSACTION REVIEWS.
AND SO FOR THIS, WE’RE GOING TO BE TALKING ABOUT YOUR
DEVELOPMENT PLAN OVERALL AND THE OTHER LAYER IS BUILDING OUT THE
FINANCING AND PROVIDING ALL OF YOUR FINANCING COMMITMENTS TO
RECAP.>>SO IN ORDER TO PUT TOGETHER
YOUR DEVELOPMENT PLAN, YOU HAVE TO PUT TOGETHER A DEVELOPMENT
TEAM. OBVIOUSLY THAT MEANS IF YOU’RE
DOING — THESE ARE NEW CONSTRUCTION OR REHAB
CONSTRUCTION TEAM, OBVIOUSLY NEED TO GET SOMETHING TO BE THE
ARCHITECT AND THE ENGINEER IF YOU’RE DOING EITHER REHAB OR NEW
CONSTRUCTION. THE VARIOUS PEOPLE WHO ARE
ALWAYS INVOLVED IN ANY TYPE OF HOUSING DEVELOPMENT. 32
IN ORDER TO MAKE SURE YOU CAN AFFORD THIS, YOU HAVE TO PUT
TOGETHER A DEVELOPMENT BUDGET. SHOWING ALL OF YOUR SOURCES AND
ALL OF YOUR USES. AND SUFFICE TO SAY, THAT THE SUM
TOTAL OF THE SOURCES HAS TO EQUAL THE SUM TOTAL OF USES.
I’VE PEOPLE SUBMIT THINGS WHICH IT DIDN’T HAPPEN.
SO PLEASE, YOU CAN LAUGH AT THAT, BUT NOT EVERYONE AT FIRST
UNDERSTANDS THAT. AND OBVIOUSLY ONE OF THE THINGS
IN YOUR USES WILL BE A DEVELOPER FEE.
EVERYONE LOVES A DEVELOPER FEE, RIGHT.
AND PLEASE MAKE SURE TO CAREFULLY READ THE RAD NOTICE
BECAUSE RAD NOTICE CHANGED FROM RAD NOTICE TWO ON HOW WE
DETERMINE THE MAXIMUM ALLOWABLE DEVELOPER FEE.
BUT THAT LEADS ME TO THE GENERAL TOPIC.
PLEASE READ CAREFULLY EVERY PAGE OF RAD NOTICE 3.
I HAVE DONE IT SEVERAL TIMES AND I’M STILL ALIVE.
AND YOU NEED TO DO SO. BECAUSE EACH TIME I READ IT, I
FIND SOMETHING I DIDN’T REALIZE WAS IN THERE AND IT IS
IMPORTANT. AND WHILE PART OF OUR JOB HERE
IS TO HELP YOU UNDERSTAND ALL THIS, IF YOU READ IT BY YOURSELF
THE FIRST TIME, IT MAY GIVE YOU A FEW QUESTIONS TO ASK US AND
DON’T BE SHY. ASK AWAY.
BUT IT IS A VERY IMPORTANT TOOL, BECAUSE IT GIVES YOU VARIOUS
RULES IN TERMS OF HOW TO PUT TOGETHER A DEVELOPMENT BUDGET
AND FOR THAT MATTER HOW TO PUT TOGETHER THE 20-YEAR PRO FOR MAR
IF. YOU’RE GETTING LETS, WHAT’S THE 33
DEBT COVERAGE RATIO AND MAKE SURE YOU’RE GETTING A LOAN, YOU
HAVE AN ACCEPTABLE DEBT COVERAGE RATIO.
AND OUR NOTICE, INDEED, FINDS HOW WE LOOK AT THE D.C.R.
SO YOU NEED TO READ THAT VERY, VERY CAREFULLY.
AND AGAIN IF YOU HAVE QUESTIONS, CONTACT US.
THE FOURTH ITEM ON THIS LIST IS SOMETHING CALLED THE INITIAL
YEAR FUNDING TOOL. AND THAT’S NOT DIRECTLY RELATED
TO THE DEVELOPMENT PROCESS, BUT AS SOME OF YOU MAY KNOW, WHEN
YOU CONVERT, IF YOU CONVERT IN THE MIDDLE OF THE YEAR, THE
SECTION 8 FAUCET DOES NOT TURN ON UNTIL JANUARY 1ST OF THE
FOLLOWING HERE AND YOU GET TO USE THE CAPITAL FUNDS AND
OPERATING FUNDS THAT YOU’VE ALREADY RECEIVED FOR THOSE UNITS
ON THOSE UNITS. BUT IN ADDITION, YOU CAN GET —
IF YOU THINK NECESSARY ADDITIONAL FUNDS BY LOOKING AT A
DOCUMENT CALLED THE INITIAL YEAR FUNDING TOOL, WHICH IS ON THE
RAD RESOURCE DESK, DETERMINING THE AMOUNT OF MONEY YOU RECEIVE
FOR THOSE UNITS DURING THAT YEAR, AND DEPENDING UPON WHEN
YOU CLOSE, GETTING A CERTAIN PERCENTAGE OF THE FUNDS.
IF YOU HAVE ANY QUESTIONS ABOUT THAT, PLEASE SEE ME LATER.
BUT IN GENERAL, PUTTING TOGETHER A DEVELOPMENT BUDGET IN A
20-YEAR PROFORMA, IT MAY SEEM DIFFICULT, IT REALLY IS TWO
STANDARD DOCUMENTS THAT ALL DEVELOPMENT PROJECTS, RAD OR
OTHERWISE, HAVE TO PUT TOGETHER. AND IF YOU NEED HELP, CONTACT
US. BUT REALLY IT’S NOT ROCKET
SCIENCE.>>AND DO GUYS HAVE ANY BEST 34
PRACTICES FOR, YOU KNOW, THIS PORTION OF THE BUILDING BLOCK?
>>SO ONE THAT I SEE OFTEN IS A REPLACEMENT RESERVE DEPOSIT.
MAKING SURE THAT IT REFLECTS THE AMOUNT THAT THE ECNA TOOL
PROVIDED. AS WELL AS YOU HAVE — HAVING
SUFFICIENT AMOUNT OF CAPITAL NEEDS TO BE ABLE TO ADDRESS THE
REPLACEMENT RESERVE DEPOSIT, AS WELL AS ANY OTHER CAPITAL NEEDS
THAT COMES OUT OF THE PROPERTY. AND I THINK — OH, FOR THE
FINANCING TEMPLATE, MAKING SURE THAT YOU HAVE A FINANCING
TEMPLATE FOR ALL OF — WITH YOUR SUBMISSION, FOR ALL OF THE ITEMS
EXCEPT FOR PUBLIC HOUSING FUNDS. ANOTHER ONE IS MAKING SURE THAT
YOUR FIRST MORTGAGE IS — REFLECT ALL OF THE REQUIREMENTS,
AS IN THE RAD NOTICE. FOR THE TERMS AND THE CONDITIONS
OF THE FIRST MORTGAGE IS ANOTHER ONE THAT I SEE PEOPLE — I SEE
SUBMISSIONS THAT DO NOT ADHERE TO THE RAD NOTICE.
>>SHE SUMMED IT UP.>>WHAT SHE SAID.
>>YEAH. I THINK ONE ALSO TO REALLY FOCUS
ON IS THE DEVELOPMENT TEAM AND THE P.H.A.s RESPONSIBILITY.
WE WANT THEM TO HAVE A LONG-TERM, MEANINGFUL
RELATIONSHIP WITH THIS COMMUNITY AND IF THEY’RE DOING A TAX
CREDIT TRANSACTION, A RELATIONSHIP WITHIN THE
PARTNERSHIP THAT’S BEING CREATED.
AND SO WHEN OUR LEGAL IS DOING THEIR REVIEW, THEY ARE
CONCENTRATING A LOT ON THE P.H.A. SHOWING OWNERSHIP AND
CONTROL. ONE THING TO NOTE THAT THERE’S A
DIFFERENCE BETWEEN P.B.B. AND PB RA. 35
AS WELL AS THE CONTRACT ADMINISTRATOR.
RIGHT. WITH P.B.B. THAT’S NOT THE CASE.
YOU HAVE TO CREATE A NEW OWNERSHIP ENTITY.
SO TYPICALLY WE SEE THE P.H.A. CREATE, YOU KNOW, A SOLE MEMBER
ENTITY AND THAT’S THE NEW OWNER FOR THE PROPERTY.
JUST SOMETHING TO KEEP IN MIND WHEN YOU’RE DOING, YOU KNOW,
P.B.B. VERSUS PVRA. SO THE NEXT SLIDE IS JUST
BUILDING OFF OF THAT AND IT’S ACTUALLY PUTTING TOGETHER YOUR
FINANCING. AND WHAT WE WANT TO SEE — WE
RECAP. SUBMITTED WITH THE FINANCING
PLAN. AS OTTAWA JUST SAID, WE HAVE
FINANCING TEMPLATES THAT ARE FOR THE P.H.A., WHOEVER IS DOING
YOUR FINANCING PLAN TO FILL OUT. IT CONTAINS ALL OF THE RELEVANT
INFORMATION THAT WE NEED TO SEE TO MAKE SURE IT MEETS OUR
PROGRAM REQUIREMENTS. SO TERMS, MOSTLY TERMS, INTEREST
RATE –>>THE SOURCE OF FUNDS.
>>WHERE THEY’RE COMING FROM, WHERE THEY FEDERAL FUNDS, ARE
YOU STRUCTURING YOUR CAPITAL FUNDS OR YOUR OPERATING RESERVES
AS LOANS. WE WANT TO SEE ALL OF THAT AND
MAKE SURE THAT IT’S ALL GOING IN THE RIGHT BUCKET AND IT’S ALL
BEING WITH THED FOR. — ACCOUNTED FOR.
ALONG WITH THE TEMPLATES WE WANT TO SEE, YOU KNOW, LETTERS OF
INTEREST. DO YOU GUYS — WHEN YOU’RE
REVIEWING THEM, DO YOU FOCUS ON THE LETTERS OF INTEREST?
OR DO YOU JUST REALLY LOOK AT THE FINANCING TEMPLATES? 36
>>WE DO WANT TO SEE THE LETTERS OF INTEREST.
JUST TO MAKE SURE THAT THEY MATCH UP WITH THE TEMPLATES.
WE DO WANT UNDERSTAND THAT THINGS CHANGE, WE WANT TO MAKE
SURE THAT THEY DO MATCH UP.>>GREAT.
>>WHAT HE SAID. [LAUGHTER]
>>SAME THING IF YOU’RE DOING TAX CREDITS, WE WANT TO SEE YOUR
TAX CREDIT AWARD. WE DON’T — YOU KNOW, WE WANT TO
MAKE SURE THE PROPERTIES ARE BEING PRESERVED AS THEY’RE
GETTING CONVERTED. WE DON’T WANT TO GIVE YOU
APPROVAL IF YOU DON’T HAVE YOUR FINANCING, ESPECIALLY YOUR TAX
CREDITS IN PLACE. AND, YOU KNOW, UNDER THAT, IT’S
REALLY IMPORTANT TO PAY ATTENTION TO Q.A.P. TIMELINES,
WHEN YOU’RE GOING TO BE RECEIVING AWARDS, AND TRY TO
TIME EVERYTHING UP. BECAUSE WE — WE NEED TO SEE
THAT EVIDENCE BEFORE WE CAN MOVE TOWARDS A CLOSING.
ANYTHING YOU SEE AS YOU REVIEW THEM?
>>EVERYTHING YOU’VE SAID.>>OKAY.
GREAT.>>KARA, JUST TO TOUCH ON A
COUPLE OF ISSUES THAT OTTAWA SAID EARLIER IN REFERENCE TO THE
RAD NOTICE. AND THAT’S BASICALLY KNOW THE
LOAN PAYMENTS BEFORE 18 YEARS, AS WELL AS NO TERMS GREATER THAN
40 YEARS. AND THE SERVICE OF ONE TWO.
>>AND FIXED INTEREST RATE. SO, YOU KNOW, AND THEN ON THIS
SLIDE I THROUGH THE FAIR HOUSING MARKETING PLAN, BECAUSE I DIDN’T
KNOW REALLY WHERE TO PUT IT. YOU KNOW, IT — IT’S IMPORTANT I 37
THINK. IT KIND OF FITS IN THE MID-RANGE
OF GETTING THAT SUBMITTED TO YOUR FIELD OFFICE.
WE DON’T REQUIRE — RECAP DOESN’T REQUIRE APPROVAL.
OF YOUR AFFIRMATIVE FAIR HOUSING MARKETING PLAN WHEN YOU IT
SUBMIT YOUR FINANCING PLAN. WE JUST REQUIRE EVIDENCE THAT
YOU HAD SUBMITTED IT. SO AN EMAIL SHOWING THAT YOU
SUBMITTED IT IS GOOD FOR US. AND THEN IT WILL GET APPROVED IN
DUE PROCESS AS WE MOVE ALONG. SO FINALLY WE’RE SORT OF COMING
TO THE END OF BUILDING YOUR FINANCING PLAN.
AND SO IT’S BASICALLY TIEING EVERYTHING UP WITH A NICE, NEAT
LITTLE BOW IN YOUR CONVERSION OVERVIEW MEMO AND THE FINANCING
PLANS CERTIFICATION. AND THIS IS JUST THE LAST STEP
BEFORE YOU HAVE TO SUBMIT YOUR FINANCING PLAN.
AND SO WE SEE ALL DIFFERENT KINDS OF CONVERSION OVERVIEW
MEMOS SUBMITTED. SOME ARE LENGTHY, SOME CONTAIN
NOTHING. WHAT IS HELP FOR YOU AS
TRANSACTION MANAGERS WHEN YOU’RE REVIEWING THESE CONVERSION
OVERVIEW MEMOS?>>SO THE CONVERSION OVERVIEW
PROVIDES A FULL AND ACCURATE PICTURE OF THE RAD CONVERSION.
IF YOU’RE EVER CONFUSED ON HOW MUCH INFORMATION THAT YOU SHOULD
INCLUDE IN YOUR CONVERSION OVERVIEW, INCLUDE AS MUCH AS
POSSIBLE, JUST DO MORE RATHER THAN LESS.
AND NOT ONLY SHOULD YOU DISCUSS THE PLANS FOR THE BUILDING, SO
NOT ONLY POST-CONVERSION, MAKE SURE YOU PROVIDE INFORMATION FOR
PRE-CONVERSION AS WELL. SO A LOT OF THE T.M. — WE DON’T 38
HAVE THE OPPORTUNITY TO VISIT THE PROJECTS WITHIN OUR
PORTFOLIO. SO RELYING ON YOUR CONVERSION
YOU’VE VIEW TO PAINT THE PICTURE FOR US.
AND WHAT YOU — WHAT YOUR PLANS ARE FOR THE BUILDING AFTER THE
CONVERSION.>>YEAH.
ONE OF THE THINGS THAT YOU WANT TO MAKE SURE — I THINK KARA
TOUCHED ON IT, I THINK THE FACT IS WE HAVE CONVERSION OVERVIEW
TEMPLATES FOR EACH TYPE OF DEAL, WHETHER OR NOT IT’S A NO-DEBT
DEAL OR F.H.A. DEAL. YOU WANT TO MAKE SURE YOU STAY
IN TUNE WITH THAT. WE DON’T WANT YOU TO WAIT UNTIL
THE VERY LAST MINUTE AND DECIDE THAT YOU’RE GOING TO CHANGE THE
TYPE OF DEAL THAT YOU HAVE, BECAUSE WHAT THAT DOES, IT
PRETTY MUCH RESETS THAT 180-DAY AND YOU’LL HAVE DIFFERENT
REQUIREMENTS TO MEET AND THEY MAY NOT — IF YOU UPLOADED SOME
THINGS EARLIER, THEY MAY NOT LINE UP CORRECTLY ON THE RAD
RESOURCE DESK. JUST MAKE SURE YOU USE THE RIGHT
TEMPLATE FOR THE RIGHT TYPE OF DEAL THAT YOU’RE UPLOADING.
>>YEAH. I THINK WHAT OTTAWA SAID IS
REALLY GREAT. WE DON’T HAVE THE OPPORTUNITY TO
COME OUT AND SEE ALL OF YOUR COMMUNITIES.
SO, YOU WERE, IT’S REALLY HELPFUL TO HAVE ALL OF THE
INFORMATION, THE MARKET INFORMATION, THAT’S GREAT.
NEIGHBORHOOD INFORMATION EVEN BETTER.
YOU KNOW, WE LOOK THROUGH — GOING BACK TO DUE DILIGENCE.
WE LOOK THROUGH ALL OF THE PHOTOS AND ALL OF YOUR REPORTS. 39
WE REALLY WANT TO UNDERSTAND THE ASSET, WHERE IT IS IN THE
COMMUNITY. AND HOW YOU PLAN TO REPOSITION
IT. SO I THINK THAT WAS A REALLY
GREAT POINT. SO YOU’VE DONE ALL THAT.
THERE WE GO.>>MUST SUBMIT YOUR FINANCING
PLAN. AND YOU LITERALLY MUST PUSH THE
BUTTON. THERE IS A BUTTON THAT SAYS
“SUBMIT FINANCING PLAN.” YOU MUST PUSH THAT BUTTON, TOO.
OTTAWA, HOW MANY TIMES HAVE YOU HAD A P.H.A. SAY, THEY DIDN’T
PUSH THE BUTTON.>>SEVERAL.
I SEND MY EMAIL BACK, SAYING DID YOU PUSH THE RED BUTTON.
IT’S ALWAYS LIKE, OH, THAT BUTTON.
IT DID SUBMIT FINANCING PLAN. MAKE SURE YOU PUSH THE RED BUTT
DON.>>SEEMS SILLY, BUT IT’S TRUE.
THAT’S THE ONLY WAY IT GETS RECORDED AND LOGGED AND IT’S THE
ONLY WAY IT WILL GET ASSIGNED TO A TRANSACTION MANAGER.
SO YOU REALLY WANT TO SUBMIT AND YOU REALLY WANT TO PRESS THAT
BUTTON. SO THAT ROUNDS OUT ALL OF THE
BUILDING BLOCKS. BUT WE ALSO WANTED TO TOUCH
QUICKLY, BEFORE WE GO INTO QUESTIONS, JUST, YOU KNOW, ON
THE FINANCING PLAN LIFE CYCLE. SO, YOU KNOW, RIGHT NOW WE ARE
IN THE HOST CHAP STAGE I GUESS, RIGHT.
SO THIS IS A QUICK LIFE CYCLE OF WHAT YOUR FINANCING PLAN IS
GOING TO LOOK LIKE. SO YOU GET YOUR CHAP, YOU’RE
GOING TO SUBMIT IT. YOU’RE GOING TO SUBMIT YOUR 40
FINANCING PLAN AND TO QUICKLY RUN THROUGH SO YOU UNDERSTANDED
NEXT STEPS AND HOW THIS FLOWS OUT THROUGH THE ACTUAL
CONVERSION. YOU HAVE — YOUR INITIAL REVIEW
BY THE TRANSACTION MANAGER, WHICH IS USUALLY DONE WITHIN
FIVE DAYS. AND THAT’S JUST A CURSORY REVIEW
TO MAKE SURE YOU UPLOADED EVERYTHING.
I THINK THEY WERE — GREG HAD TALKED ABOUT IT IN HIS EARLIER
PANEL. WE TRIED TO STICK TO OUR
TIMELINES AND TRY TO GET YOU BACK TIMELY RESPONSIVE.
>>ALSO REMEMBER AS KARA SAID BEFORE, EFFECTIVE FEBRUARY 1ST,
WE HAVE A NEW C.N.A. E-TOOL FOR SUBMISSION.
AS I SAID, I THINK ALREADY HALF OF THE SUBMISSIONS SINCE THEN
HAVE BEEN THROUGH THE OLD TOOL. AND WE REJECT IF IT’S NOT
THROUGH THE NEW TOOL. PLEASE MAKE SURE YOU DO THAT AS
WELL.>>YEAH.
SO AFTER OUR INITIAL REVIEW, IF THE T.M. DOESN’T FEEL IT’S A
SUBSTANTIAL SUBMISSION, WE’LL KICK IT BACK TO READINESS, WHERE
YOU SIT UNTIL YOU’VE UPDATED EVERYTHING THAT WE’VE ASKED.
SO IT’S IMPORTANT TO, YOU KNOW, GET EVERYTHING IN, GET IT DONE
RIGHT. IF YOU WANT TO STAY ON A PRETTY
STEADY TIMEFRAME. IF THE — IF THE TRANSACTION
MANAGER ACCEPTS IT, WHICH IS WHAT WE HOPE HAPPENS, THE
FINANCING PLAN REVIEW AND THAT’S PRETTY IMPORTANT BETWEEN THE
DEVELOPMENT CONSULTANT AND THE TRANSACTION MANAGERS.
WE ROUGH RULE OF THUMB, I THINK GREG SAID IT EARLIER, 60 DAYS. 41
OUR GOAL IS TO GET THESE OUT. WE WANT TO REVIEW THEM, WE WANT
TO GET YOU CONVERTED. IF IT’S A COMPLETE AND A
WELL-DONE SUBMISSION, OUR T.M.s CAN, YOU KNOW, USUALLY
GET A GOOD REVIEW DONE IN 30 DAYS.
ONCE YOU GET YOUR REVIEW DONE, WE GO AND GET YOU YOUR APPROVAL
EITHER THROUGH DELEGATED MEANS OR APPROVAL COMMITTEE.
THERE ARE CERTAIN CRITERIA THAT DECIDE WHICH ROUTE YOU GO.
AFTER YOUR APPROVAL, YOU GET YOUR R.C.C., WHICH IS YOUR LIKE
— THE BIG DEAL. THAT’S WHAT YOU GET, WHICH IS
INDICATING THAT YOU’RE ON THE PATH TO CLOSURE, VERY CLOSE TO
CLOSING. THE P.H.A. HAS 30 DAYS TO ACCEPT
YOUR R.C.C. AND THAT’S IMPORTANT.
SOME P.H.A.s GET THE R.C.C. AND TOTALLY FORGET ABOUT IT,
DON’T REALIZE THEY HAVE TO SIGN IT AND SEND IT BACK.
SO PLEASE DO THAT QUICKLY. AND THEN ROUGH RULE OF THUMB, WE
TRY TO GET YOU CLOSED WITHIN 90 DAYS.
AND THAT’S WITH OUR GUEST TALKING LATER WITH ALL OF YOU.
>>PLEASE LOOK CAREFULLY WHEN YOU GET THE R.C.C., OCCASIONALLY
THERE ARE WHAT ARE CALLED CONDITIONS.
YOU NEED TO MAKE SURE IF THERE ARE CONDITIONS, WHICH ARE ITEMS
THAT HAVE TO BE CLEARED BEFORE YOU CLOSE, THAT YOU UNDERSTAND
WHAT THEY ARE AND THAT YOU ARE CAPABLE OF GETTING THOSE
CONDITIONS CLEARED BY THE TIME OF THE CLOSING.
IF YOU GET THOSE AND YOU DON’T UNDERSTAND, CONTACT YOUR T.M.
IMMEDIATELY PLEASE.>>SO AS TRANSACTION MANAGERS, 42
BECAUSE YOU’RE WORKING ON, YOU KNOW, MULTIPLE FINANCING PLANS
AT A TIME. OUR TRANSACTION MANAGERS HAVE
PRETTY BIG PIPELINE THAT THEY HAVE TO WORK THROUGH ON A DAILY
BASIS. WHAT ARE THE THINGS THAT YOU SEE
THAT — THAT P.H.A.s DO THAT REALLY SET THEM BACK IN THEIR
REVIEW PROCESS?>>SO I THINK ONE OF THE ITEMS,
I THINK I MENTIONED IT THROUGHOUT THIS PRESENTATION, IS
KEEPING THE LINES OF COMMUNICATION OPEN WITH YOUR
TRANSACTION MANAGER. SO IT — YOU MIGHT HAVE A
SITUATION WHERE YOUR READINESS T.M. IS DIFFERENT FROM YOUR
FINANCING PLAN T.M. THE PERSON WHO GOT YOU TO THIS
POINT OF SUBMITTING A FINANCING PLAN, IS DIFFERENT FROM THE
PERSON ACTUALLY REVIEWING THE FINANCING PLAN.
THAT’S WHY COMMUNICATION IS IMPORTANT.
IF YOU DON’T KNOW WHO THE PERSON IS, YOU CAN EITHER CONTACT THE
READINESS T.M., THEY CAN PROVIDE THE INFORMATION FOR YOU.
IT’S REALLY JUST KEEPING THE LINES OF COMMUNICATION OPEN, IF
YOU DO — AFTER THEY COMPLETE THE CURSORY REVIEW, IF THERE ARE
DEFICIENCIES AND THERE ARE QUICK TURNAROUNDS, MAKE SURE THAT YOU
COMPLETE THEM. IF YOU HAVE ANY ADDITIONAL
QUESTIONS, CONTACT YOUR T.M., SO THAT WE CAN GET BACK TO
REVIEWING YOUR FINANCING PLAN.>>READ EVERYTHING.
[LAUGHTER] KNOW THE DEAL.
YOU REALLY HAVE TO KNOW THE DEAL.
>>YEAH. I AGREE WITH THAT. 43
TAKE OWNERSHIP OF YOUR DEAL, KNOW IT.
READ EVERYTHING. SO THAT WRAPS UP OUR PANEL.
WE WANTED TO DO SOME FINAL TAKEAWAYS, IF WE HAVE SOME TIME
OR I THINK WE’VE SAID OUR FINAL TAKEAWAYS MULTIPLE TIMES.
I KNOW THAT WE WANTED TO GET TO SOME QUESTIONS.
SO YOU GUYS GOOD WITH SKIPPING THIS AND GOING TO QUESTIONS?
YEAH?>>MY ONE TAKEAWAY AGAIN, I SAID
BEFORE AND OTHERS SAID ALREADY, READ THE RAD NOTICE.
AGAIN AND AGAIN. [LAUGHTER]
>>Question: I UNDERSTAND THERE’S SOME LANGUAGE IN THE
PROCESS THAT ADDRESSES BUILDINGS THAT DON’T HAVE A TENANT USE.
IS THERE A REASON THAT ALLOWS THESE — I GUESS THAT WE HAVE TO
PAY HUD BACK FOR THESE BUILDINGS.
IS THERE A PROVISION THAT ALLOWS THOSE BUILDINGS TO BE ROLLED
INTO THE FINANCING PLAN?>>CAN YOU ELABORATE ON THAT
JUST A LITTLE BIT MORE. ARE YOU SAYING THAT YOU HAVE A
NON-DWELLING STRUCTURE?>>YES.
>>AND THAT YOU NOW WANT TO UTILIZE IT FOR DWELLING UNDER
THE RAD PROGRAM?>>THAT WOULD HELP, YES.
[LAUGHTER]>>BUT I DON’T EVEN THINK — I’M
NOT SURE IF HE’S SAYING USE IT AS A DWELLING.
HE’S JUST — JUST WONDERING IF WHETHER OR NOT THEY COULD BRING
IT OVER.>>I NEED YOU TO BE MORE
SPECIFIC. WHAT ARE YOU TRYING TO BRING ON?
>>THROUGH THE SITE EVALUATION, THERE WILL BE THE DETERMINATION 44
OF WHICH BUILDINGS QUALIFY FOR THE RAD PROGRAM.
AND THERE ARE MULTIPLE STRUCTURES ON THE SITE.
IF SOME OF THOSE STRUCTURES ARE DEEMED NONESSENTIAL STRUCTURES
FOR TENANT USE OR NOT COMMUNITY CENTERS, IF THEY’RE NOT —
>>OKAY. WHAT YOU’RE SAYING IS BETWEEN
THE AGENCY AND THE FIELD OFFICE, THE FIELD OFFICE HAS SAID THEY
DON’T BELIEVE IT’S NOT ESSENTIAL.
THEY BELIEVE THOSE STRUCTURES ARE NONESSENTIAL FOR THE RAD
TRANSACTION? BUT YOU WANT TO KNOW THE PROCESS
OF HOW THAT’S DETERMINED.>>THEY WANT TO US PAY FOR THOSE
BUILDINGS?>>MAYBE WE CAN TALK AFTER.
[LAUGHTER]>>>YEAH.
I SAID EARLIER, THE KEY SHOULD BE IF YOU CAN EXPLAIN HOW, YOU
KNOW, AS PART OF YOUR PICK REMOVAL APPLICATION, RIGHT,
WHATEVER YOU WANT TO REMOVE, PARTICULARLY IF IT’S
NON-DWELLING BUILDINGS OR PROPERTY THAT IT SUPPORTS THOSE
TENANTS. AND THAT IS JUST A WAY TO
CONVERT IT UNDER RAD. THERE’S ALL SORTS OF OTHER WAYS
TO CONVERT IT UNDER OUR OTHER EXISTING — TO REMOVE THE D.O.T.
ONE OTHER QUICK THING TO NOTE, IF YOU HAVE QUESTIONS LIKE THAT
AND WANT TO GET MORE INTO THE WEEDS, I HAVE LIKE — THE BLUE
ONES WITH P.I.H. ON, A NUMBER OF OTHER PEOPLE FROM FIELD OFFICES
WHO THEY CAN ALSO TRY TO HELP YOU OUT, TOO.
>>YES. TALK TO THEM.
[LAUGHTER]>>OKAY. 45
I WAS WONDERING IN THE RELOCATION PROCESS, DOES HOTELS,
ARE THEY APPROVED TO MOVE RESIDENTS TO A HOTEL?
>>I SHOULDN’T BE ANSWERING THIS, BUT IT’S —
[LAUGHTER] DIFFERENT FROM SECTION 18.
RAD IS UNDER U.R.A. SO THERE’S GOING TO BE A
CONVERSATION THAT YOUR PROVIDER, THE TRANSACTION MANAGER,
PROBABLY THE FIELD OFFICE ARE GOING TO HAVE A CONVERSATION ON
HOW YOU’RE GOING TO BE ABLE TO DO IT AND THAT’S GOING TO BE
VERY IMPORTANT FOR THE RELOCATION PLAN.
I CAN ALMOST GUARANTEE YOU FAIR HOUSING IS GOING TO GET
INVOLVED.>>OKAY.
>>IN SOME CASES WE DO — WE WILL SET UP A CALL WITH THE
P.H.A. AND C.P.D. JUST TO GO OVER WHATEVER YOUR SITUATION IS.
>>Question: OKAY. IS THERE ANY PART OF THE
OVERVIEW?>>WE CAN’T HEAR YOU.
>>Question: IS THERE ANY PART OF THE OVERVIEW PROCESS THAT THE
RESIDENTS CAN’T SEE? IS THERE A WAY TO REQUIRE THE
PUBLIC HOUSING AUTHORITIES TO PLACE THAT ON THEIR WEBSITES AND
SO THAT EVERYBODY WILL BE ABLE TO SEE IT?
>>SEE THE RELOCATION PLAN?>>Question: THE OVERVIEW.
YOU CALL IT THE CONVERSION OVERVIEW MEMO.
>>SO THE CONVERSION OVERVIEW MEMO IS AN INTERNAL DOCUMENT
THAT WE USE. BUT DURING YOUR RESIDENT AND
YOUR COMMUNITY MEETINGS, YOU KNOW, YOU SHOULD BE PROVIDING A
FORM OF THAT TO YOUR RESIDENTS, YOU KNOW, INFORMING THEM OF WHAT 46
YOU’RE PLANNING ON DOING, YOU KNOW, TIMING, PARTNERS WHO WILL
BE INVOLVED, RELOCATION CONSIDERATIONS.
SO IT’S JUST A VERSION, AN EARLIER VERSION OF WHAT YOU
WOULD BE UPLOADING WITHIN THE CONVERSION MEMO.
YOU ARE MORE THAN WELCOME TO TAKE THE INFORMATION THAT’S IN
THE CONVERSION OVERVIEW MEMO AT THAT TIME AND DEFINITELY GIVE IT
OUT TO THE RESIDENTS. IT WILL JUST BE, YOU KNOW, PART
OF YOUR INFORMING OF THE COMMUNITY.
>>OKAY. BUT I NOTICED ALSO THERE’S
LIMITED VIEW. SO IS THAT LIKE LIMITED VIEW?
>>FOR THE RAD RESOURCE DESK? LIMITED?
>>Question: WELL, I SAW IT ON THE PROJECTED AIRWAY.
IT SAYS THAT THERE’S ONLY LIMITED VIEW.
AND THEN I HEARD ONE OF THE PANELISTS SAY THAT THEY HAVE
ONLY LIMITED VIEW. CERTAIN THINGS OF THE P.H.A.,
RIGHT?>>IT’S FOR THE RAD RESOURCE
DESK. THAT’S JUST — THE RAD RESOURCE
DESK WE GAVE ACCESS RIGHTS TO THE PEOPLE ACTUALLY UPLOADING
INFORMATION AND WORKING ON THE RAD RESOURCE DESK.
SO IT’S NOT REALLY A MEANS OF COMMUNICATION FOR RESIDENTS.
>>Question: OKAY. ALL RIGHT.
SO ONE MORE QUESTION. I HAVE A BUNCH OF THEM, BUT I’M
GOING TO GIVE YOU ONE MORE RIGHT NOW.
ON THE FAMILY SELF-SUFFICIENCY COMPONENT, HOW DOES THAT CARRY
OVER INTO THE RAD? I NOTICED THAT A COUPLE OF — IN 47
FLORIDA, I WON’T NAME THE HOUSING AUTHORITY, BUT THEY
DIDN’T CARRY IT OVER. AND SO I WANT TO KNOW HOW DOES
THAT WORK. IS THAT SUPPOSE TO CARRY OVER?
>>I’M NOT AN EXPERT ON THAT AT ALL.
[LAUGHTER]>>YEAH.
IT’S SUPPOSE TO CARRY OVER. IT’S SUPPOSE TO CARRY OVER TO
THE FAMILIES AND FAMILY SELF-SUFFICIENCY, THEY WOULD
STILL GET IT UNDER RAD.>>Question: OKAY.
WHAT IS THE PROCESS IF IT DOESN’T CARRY OVER THEN?
HOW DO WE — WHAT DO WE DO?>>DID YOU BRING IT UP WITH
SOMEONE?>>THE THING IS I THINK THAT
AFTER MAYBE LATER PANELS THAT PEOPLE WILL START ADDRESSING IT,
BUT THEN WE’RE GOING TO HAVE SESSIONS AT THE END OF THIS, I
THINK THAT’S PROBABLY SOMETHING YOU WANT TO SPECIFICALLY ADDRESS
THEN.>>YEAH.
>>Question: OKAY. ONE MORE QUESTION.
REAL QUICK. OKAY.
IN A U.R.A. PROCESS, OKAY, LET’S SAY THAT THE TENANT IS BEING
MOVED TO A HOTEL OR WHEREVER. IS THERE SOME SORT OF AGREEMENT,
WRITTEN AGREEMENT THAT SAYS THAT THEY’RE GOING TO RETURN?
OR THEY HAVE THE CHOICE TO CHOOSE, WHAT CHOICE THEY CHOSE
TO LEAVE WITH A VOUCHER OR TO COME BACK.
IS THERE SOME SORT OF WRITTEN?>>THE P.H.A. SHOULD BE TRACKING
ALL OF THAT. AND KEEPING TABS ON WHAT EVERY
RESIDENT IS GOING OFFERED AND WHAT THEY TAKE. 48
EVERY RESIDENT HAS THE RIGHT TO RETURN.
I THINK YOUR RINGS AND YOUR GINSARE THE REAL WRITTEN COUPLE
TAKES, THE P.H.A. COMMUNICATING TO THE TEN ANSWERS OF THE PLANS
AND PUTTING THEM ON FORMAL NOTICE.
>>OKAY.>>DEFINITELY, I MEAN, WE HAVE
CLAUDE WHO SPOKE EARLIER, AND HEWEDY.
THEY CAN DEFINITELY HELP YOU WITH A LOT OF THOSE MORE COMPLEX
QUESTIONS.>>OKAY.
I’LL SAVE THE REST FOR LATER.>>THIS IS NOT A SET-UP.
[LAUGHTER]>>GREAT!
>>SO FIRST I WANT TO CLARIFY, SO INTERNALLY OUR TRANSACTION
MANAGERS ARE GENERALLY EXPECTED TO REVIEW THEIR TRANSACTIONS IN
30 DAYS. AND THEN THERE’S A LEVEL OF
APPROVAL AFTER THAT. WHAT WE TRY TO DO IS SAY BY THE
TIME WE SUBMIT A COMPLETE FINANCING PLAN, 60 DAYS OUR GOAL
IS HOPE TO GET YOU AN R.R. — R.C.C.
ANOTHER 30 DAYS IF NECESSARY TO DO IT.
OKAY. JUST CLARIFICATION.
ONE OF YOU MENTIONED, I THINK IT WAS ARNOLD, BUT MAYBE IT WAS
KARA, ABOUT A SPECIAL CONDITION. ALL RIGHT.
WE SUBMITTED FINANCING PLANS, YOU MENTIONED EARLIER, IF IT’S
NOT COMPLETE, IT GETS REJECTED AND GOES BACK.
WHAT’S A SPECIAL CONDITION? WITH THIS SPECIAL CONDITION THAT
HAS TO GET CLEARED BEFORE HAPPENED.
SO HOW DO YOU DECIDE WHAT THINGS YOU MIGHT ALLOW OR NOT? 49
>>SURE. DO YOU GUYS WANT TO?
>>THE SPECIAL CONDITION CAN BE SOMETHING.
WE MAY FIND OUT UPON PLANNED REVIEW, THAT YOU OWE — YOU OWE
HUD SOME MONEY. AND AND IT’S NOT THAT YOU WERE
TRYING TO HIDE IT, IT’S JUST THAT YOU FAILED TO MENTION IT.
WE WILL TAKE THAT INTO CONSIDERATION AND WE WOULD TALK
TO YOU ABOUT IT AND TALK TO P.I.H. ABOUT IT AND SEE IF IT’S
ONE OF THE ITEMS THAT WE CAN PROBABLY COME UP WITH SOME SORT
OF SPECIAL CONDITION THAT YOU REPAY THAT PRIOR TO CLOSING OR A
CERTAIN TIME PERIOD.>>I THINK THE KEY IS SPECIAL
CONDITIONS — YOU HAVE TO BE ABLE TO CLEAR THEM BEFORE YOU
CLOSE. SO THEY’RE SORT OF ITEMS THAT
ARE JUST STILL SORT OF LIKE HANGING OUT THERE.
>>WE’RE WORKING WITH ONE DEAL NOW THAT HAS AN O.I.G. ON IT.
WE MADE CLEAR THEY WOULD HAVE TO COMPLETE ALL BEFORE THE CLOSING.
P.H.A. NOW TRYING TO FIGHT THAT AND WE SAID NO.
BUT TO ANSWER GREG’S QUESTION, SOMETIMES YOU HAVE A P.H.A. THAT
HAS TO COMPLETE TOGETHER COMPLIANCE WITHIN AN O.I.G.
AUDIT BEFORE WE WILL ALLOW A RAD CLOSING.
>>TO MAKE SURE THE CONDITIONS AREN’T ITEMS THAT CAN CHANGE THE
ENTIRE DEAL. THERE ARE THINGS THAT YOU ARE
EITHER CLEARING UP AND YOU STILL NEED MORE TIME AND WE DON’T SEE
A REASON TO HOLD UP THE R.C.C. FOR IT, LIKE KARA MENTIONED, IT
IS — IT MUST BE CLEARED BY CLOSING.
THEN WE HAVE PROVISIONS WHICH ARE I GUESS NOT AS SPECIAL AS 50
THE CONDITIONS ARE. [LAUGHTER]
THAT EITHER WOULD STAY WITH YOUR PROJECT THAT YOU HAVE TO ADHERE
TO, BUT NOT NECESSARILY BE CLEARED.
SO I HAVE A PROJECT WHO HAS CREATED A RELOCATION PLAN. 1
I HAVE A PROJECT THAT CREATED A RELOCATION PLAN THAT HAD A VERY
COMPLEX RELOCATION PROCESS, AND THE PLAN GOT APPROVED.
AND THE PROVISION IS TO MAKE SURE THAT THEY CONTINUED TO
FOLLOW THE RELOCATION PLAN THAT WAS APPROVED BY HUD SO THAT YOU
ALSO SEE ITEMS LIKE THAT.>>AND OTHERWISE YOUR LEGAL
OPINION FOR YOUR PILOT, LEAD-BASED PAINT, A — STUFF
THAT’S NOT GOING TO CLEAR YOUR DEAL.
WE WERE JUST WAITING FOR STUFF TO COME IN.
>>SIR, JUST A COUPLE COMMENTS ON THE RESOURCE DESK.
I THINK, AND LEEANN, ONE OF THE COMMENTS MIGHT BE MORE
RELEVANT TO YOU, BUT THE BUTTON, THE SUBMISSION BUTTON, I THINK
THEY EXPECT LIKE, WELL, BELLS AND WHISTLES TO GO OFF WHEN THEY
HIT IT, AND NOTHING HAPPENS. YOU DON’T EVEN KNOW YOU
SUBMITTED IT. SO I THINK THAT’S PART OF IT.
SO JUST FOR UPHA, THE WAY YOU KNOW THAT IT’S SUBMITTED IS IF
YOU COME BACK, THERE’S A DATE ON TOP.
BUT A LOT OF PEOPLE DON’T KNOW THAT.
THAT’S HOW YOU KNOW IT’S SUBMITTED.
SO NOTHING HAPPENS WHEN YOU HIT THE BUTTON.
THE OTHER PART IS I STILL THINK IT’S THE CASE THAT YOU CAN’T
PULL ANYTHING OFF OF THE RESOURCE DESK ONCE YOU PUT IT UP
THERE. SO THAT’S AN FYI.
SO IF YOU HAVE UPLOADED YOUR CEAT TOOL AND YOU NEED TO UPLOAD
A NEWER VERSION, THE OLD ONE WILL REMAIN AND YOU JUST KEEP
UPLOADING DOCUMENTS. 2>>SO TO FEED OFF OF THAT, THEY
HAVE PHA COMMENTS ON THE RAD RESOURCE DESK.
THAT IS A GREAT PLACE TO PUT, DON’T REVIEW NUMBER TWO, REVIEW
NUMBER ONE, OR WHATEVER KIND OF CLARIFICATION THAT YOU WANT FOR
YOUR TM. YOU CAN’T DO IT ON THE OLDER
DOCUMENTS.>>BUT THEY ARE ALL
DATE-STAMPED. YOU JUST LOOK AT THE MOST RECENT
ONES OF THAT BEEN UPLOADED AND IGNORE EVERYTHING BELOW THAT
UNLESS NOTIFIED OTHERWISE. ANY OTHER QUESTIONS?
ALL RIGHT.>>THANK YOU.
>>THANK YOU.

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