Government Deal Funding

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1 $97 00 Government Deal Funding for Real Estate Investors and Developers with Sean Carpenter Program Guide to Profits

2 The US Government Has Set Aside Literally BILLIONS For Savvy Real Estate Investors. These funds include government grants, government hard financing programs, tax exempt bond programs, taxable bond financing (this one can be tricky!), tax credits, various programs including the Affordable Housing Trust Programs, Housing Stabilization Funds, Neighborhood Stabilization Programs, Federal Home Loan Bank Programs, the HOME program, Community Development Block Grants (CDBG), Low Income Housing Tax Credits (LIHTC), tax credits for acquisition vs. rehabilitation vs. new construction, Historic Tax Credits and New Market Tax Credits (NMTC), Section 8 programs, the VASH program (for Veterans) and so much more. This guide will introduce you to each program that s covered in the full Government Deal Funding for Real Estate Investors and Developers PRO System and covered at our live training events. Consider this guide a jumping off point to better prepare you for the full System. Affordable Housing Trust Programs...3 Neighborhood Stabilization Programs (NSP)...4 Affordable Housing Program (AHP) Federal Home Loan Bank...5 HOME Investment Partnerships Program...6 Community Development Block Grants (CDBG)...7 Low Income Housing Tax Credits (LIHTC)...8 Federal Historic Tax Credit...10 New Market Tax Credits (NMTC)...11 Section 8 Rental Voucher Program...12 Veterans Affairs for Supportive Housing (VASH)...13 Putting It All Into Practice...14 Copyright Government Deal Funding, LLC Page 2 of 14

3 Affordable Housing Trust Programs There are several Affordable Housing Trust Fund programs throughout the nation including Illinois, California, Massachusetts, Maryland along with many cities and a new National Affordable Housing Trust created by the HERA bill of There are over 300 trust funds throughout the U.S. The funding for the Trusts are established from state, federal and local taxes as well as linkage fees that are charged to developers who do not build in affordable units in new projects. The Trust funds are generally allocated through a specific purpose and are usually soft loans, subordinate to conventional or bond debt. The repayment of these funds vary, but most commonly are cash flow notes at a low interest rate and can be forgiven upon completion of the compliance period. The application process for these funds varies from each allocating agency, but carry significant income guideline requirements and are a good source for gap funding. Affordable Housing Trust Programs are covered more in depth with case studies in the Free Money System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 3 of 14

4 Neighborhood Stabilization Programs (NSP) The HUD Neighborhood Stabilization (NSP) program is a new program created as part of the Housing and Economic Recovery Act (HERA) that was enacted in July It preceded the so called "Bailout Bill", but the funding is still being distributed. Additionally, the American Recovery and Reinvestment Act of 2009 (ARRA or "Stimulus") established additional funding for the NSP, also known as NSP-2. These funds are an extension of the CDBG program and are specifically targeted for use in revitalizing neighborhoods, eradicating blight and rehabilitating abandoned or foreclosed housing. NSP-1 was allocated utilizing a formula established by the U.S. Dept. of Housing and Urban Development. Each state was awarded funding as well as many municipalities that were hardest hit by the so called foreclosure crisis. In all, there was over $4.5B awarded as part of the HERA bill. NSP-2 doubles this. The application process for these funds vary by state or municipal agency. As the NSP-2 funds are awarded, the VIP Members Only section of this site will be updated to let you know who won and how they intend to use funds. The NSP-1 funds are available now through each respective housing agency. The funds can be used for acquisition, rehabilitation and demolition of abandoned and foreclosed homes and are a great source for gap funding. Neighborhood Stabilization Programs are covered more in depth with case studies in the Free Money System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 4 of 14

5 Affordable Housing Program (AHP) Federal Home Loan Bank The Affordable Housing Program is a grant program administered by the Federal Home Loan Bank through it's 12 member banks across the country. The allocation amounts are based on the profit each bank makes in a given year. The program is intended to provide assistance in home ownership as well as provide gap assistance funding for multifamily rental properties. This program is not widely advertised and is one of the few grant programs that is provided by a federal or quasi-federal agency. The application rounds are advertised through what is called a "Funding Implementation Plan" published by the 12 member banks. The banks, application open and due dates and 2009 application rounds are available to our members. Affordable Housing Program member banks and this year s application rounds are covered more in depth in our VIP Members Only section of the website and in the Free Money System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 5 of 14

6 HOME Investment Partnerships Program The HOME Investment Partnership program, most commonly known as HOME, is granted to states and localities that communities use-often in partnership with local groups-to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or home ownership or provide direct rental assistance to low-income people. It is currently the largest federal block grant. You can seek HOME assistance for your project by checking with the State Housing Agency under which jurisdiction the property falls, or for larger cities, seek out the local Housing and Economic Development office. Note that these funds come with rent restrictions and will require long term compliance with federal regulations. Make sure you have qualified staff who understand these programs managing your property or seek advice from a housing professional. As a real estate investor or developer, you can use the HOME program to fill gaps in your pro-forma, acquire properties, and rehab properties. The HOME Program is illustrated with an excellent case study in the Free Money System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 6 of 14

7 Community Development Block Grants (CDBG) The Community Development Block Grant program is an entitlement grant program where federal dollars are issued to each of the respective states based on a formula set by HUD. States then allocate the funds to eligible projects either through a grant or loan program. Additionally some larger cities receive direct CDBG allocations for their use from the individual states. Entitlement Cities receive a direct allocation from HUD. Eligible grantees are as follows: Principal cities of Metropolitan Statistical Areas (MSAs); Other metropolitan cities with populations of at least 50,000; and Qualified urban counties with populations of at least 200,000 (excluding the population of entitled cities) are entitled to receive annual grants. HUD determines the amount of each entitlement grant by a statutory dual formula which uses several objective measures of community needs, including the extent of poverty, population, housing overcrowding, age of housing and population growth lag in relationship to other metropolitan areas. As a real estate investor or developer, you can use the CDBG program to fill gaps in your pro-forma, acquire properties, and rehab properties. The Community Development Block Grant program is covered in depth with case studies in the Free Money System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 7 of 14

8 Low Income Housing Tax Credits (LIHTC) The Low Income Housing Tax Credit (LIHTC) program is a sophisticated tax incentive program which allows for private investment into affordable housing. Investors in LIHTC projects receive tax credits from the Federal Government in return for their investment in the project. The investor purchases the tax credits, known as tax credit equity, at a price that is determined by appetites for a rate of return. The price per credit was yielding $.78-$.85 in the late 1990s and over $1.00 before the credit crisis struck in This resulted in a shrinking investor pool and therefore less demand for the credits. Today, prices are lower than $.70 per credit and investors are extremely picky. In response to this crisis, the ARRA bill of 2009 included a tax credit assistance program to assist LIHTC projects with major funding gaps. There are 2 types of LIHTC, notably the 9% tax credit and the 4% tax credit. The percentage represents the amount of depreciation that will be calculated as a your tax credit allocation. The 9% credit is a competitive credit and typically states have 1 or 2 rounds a year depending on the state. The 4% credit is an acquisition/rehabilitation credit and is not allocated on a competitive basis. Typically, the 4% credit is allocated along with Tax Exempt Bonds. This program has been highly successful since it's inception in 1986 and has generated thousands of units nationwide. Additionally, it has helped many smaller developers realize a larger portfolio with inclusion of the private investments stimulated through the sale of credits. This program comes with significant compliance regulations where noncompliance can lead to stiff penalties including recapture of tax credits. Copyright Government Deal Funding, LLC Page 8 of 14

9 Prospective investors should consult experienced developers, accountants and property management firms when considering this program. More information on compliance requirements, guidelines for proper use, and hands-on case studies can be found in the Tax Credits System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 9 of 14

10 Federal Historic Tax Credit The Federal Historic Tax Credit is a tax credit incentive program administered by the National Park Service (NPS) in partnership with the Internal Revenue Service (IRS) and with State Historic Preservation Offices (SHPOs). This is the oldest type of tax credit program available for the development of real estate transactions as it was created in Much like the LIHTC, the Federal Historic credit encourages private investment in real estate through the sale of tax incentives which are given to a project based on criteria set by NPS. This program is designed to help many types of real estate transactions and is not exclusive to residential real estate. There is a 5 year compliance period associated with the credit and is calculated at 20% of the eligible property basis. This program has assisted many well known projects including Fenway Park in Boston and many historic school buildings as they are remolded for different uses. This program comes with significant compliance regulations where noncompliance can lead to stiff penalties including recapture of tax credits. Prospective investors should consult experienced developers, accountants and property management firms when considering this program. More information about the application process, compliance regulations, and examples of us can be found in the Tax Credits System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 10 of 14

11 New Market Tax Credits (NMTC) New Market Tax Credits is the newest of the tax credit programs used in real estate transactions recently. The intent of the NMTC is to provide private investment dollars into non-residential commercial real estate activities in return for a tax credit which will lessen the investors' year end tax burden. Tax credit awards are made to funds in which the recipients of funding then seek investors in their funds. This program is intended to provide gap financing, short term working capital and direct capital dollars to projects that qualify. Projects are generally located in areas of poverty that need a direct impact of investment capital. Projects that have received funding include strip malls, performance art centers, private educational facilities, community centers and many more. This can be a complicated program, but not as competitive as many of the other tax credit programs. More information about the New Market Tax Credits program, and how you can use NMTC to identify deals can be found in the Tax Credits System module of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 11 of 14

12 Section 8 Rental Voucher Program The Section 8 program is more or less a slang term referring to projects that have residents who receive a direct rent subsidy from the government. There are several types of rent subsidy programs including federal, state and local programs that mirror Section 8. There are even many types of the Section 8 program including tenant based subsidies, known as the Housing Choice Voucher, Project Based Assistance, known as the "old" project based section 8 or "HAP Contracts", and the newer project based voucher program. Its a very simple program where in all cases the agency overseeing the subsidy provides funding to the owner which fills the gap between the 30% of the household income and the actual rent charged for the unit. The funds are generally paid on the first of every month as long as the landlord follows the rules. There are pros and cons to this program in that you can receive your rent consistently on the first of the month, and it allows you to fill vacancies quickly, but you also need to follow program rules and non-compliance can turn into a suspension of rents. Additionally, rents are set by the government on an annual basis. Government Deal Funding for Real Estate Investors and Developers has an entire section dedicated to Section 8 programs and how you can use them successfully in your properties. Pick up a copy today and learn more. An entire course, our Section 8 System module of Government Deal Funding for Real Estate Investors and Developers goes in depth on how to get tenants from the government with on-time rents direct deposited into your account. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 12 of 14

13 Veterans Affairs for Supportive Housing (VASH) The VASH program is also known as the Veterans Affairs for Supportive Housing and is a collaboration between two federal agencies, namely, HUD and the the Veteran's Affairs Administration. This is very similar to Section 8, except that the vouchers are issued by the VA to qualifying veterans. Additionally, the rents are paid by regional agencies as opposed to local housing authorities or HUD directly. The VASH program is covered more in depth in the Section 8 System, part of Government Deal Funding for Real Estate Investors and Developers. Find out more, or register for a live training event at. Copyright Government Deal Funding, LLC Page 13 of 14

14 Putting It All Into Practice Now that you have the right program, it s time to put it all into practice. At our live Government Funding Bootcamps, you ll get all the information and hands-on training you need so you can go out and: 1) Pick the right programs - there are way more than just these! 2) Submit your applications - and get them accepted! 3) Use your funds appropriately - do NOT mess this one up! When you walk out of the room, you ll know: The ins and outs of Soft Finance, Hard Finance, Tax Credits and Section 8 How to "fill the gap" and get government funding How to get 0%, no interest, no payment, forgivable loans Which programs work for your deals - and which won't! The application timeline so you don't find yourself stuck at closing without the funds you expected How to avoid triggering a re-capture The requirements for the programs you'll want most How to KEEP your Section 8 tenants and subsidies How to profit by obtaining and selling Tax Credits How to rake in Developer Fees for your projects (this is money in your pocket) How to get your piece of the Stage Agency funding When to claim your share of the Federal Housing Trust This is a hands-on classroom environment with real life case studies that we go through together so you get the instant expertise you need to know on how to get your share of the government s BILLIONS that have been set aside for YOU. For a special offer on an upcoming bootcamp and to claim a FREE Bonus Registration for your spouse or business partner, visit: Copyright Government Deal Funding, LLC Page 14 of 14

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