Areas of Practice
PROPERTY REPOSITIONING EVALUATION
For owners of HUD-assisted portfolios, taking advantage of preservation opportunities can be a challenge. Capital improvements in federally-assisted properties is a delicate balance of funding, limited revenue, efficient operations and HUD regulations. Repositioning requires a holistic approach to assess each asset’s financial position, physical needs and applicability of HUD programs. We take pride in clearly explaining and navigating HUD regulations and their relationships to client portfolio goals. We help our clients to evaluate all available options for sustainable long-term performance of their assets.
Section 22 Voluntary Conversion
Ideas, tangible or not, are the most important things to protect in today’s competitive creative market. With so many channels and constantly replenishing feeds to watch out for, tracing the ownership and originality of a design, brand name, or invention needs the laser-focused eye of a trained attorney. We’ll handle the search, application, and filing process of trademarks, copyrights, and patents. And if your idea has been infringed upon, our litigation team will negotiate the best possible licensing and settlement agreements.
REAL ESTATE DEVELOPMENT SERVICES
We assist clients with multiple development tasks which may include: the formulation of conceptual development scenarios, the selection and coordination of the development team (i.e. architect, general contractor, attorneys, etc.), financial analysis to determine baseline project feasibility and funding gaps. We support clients at every stage of the process coordinating with local jurisdictions, securing entitlements and funding, and executing the project through closeout and break-even operation.
Rental Assistance Demonstration (RAD)
The RAD program is the most effective HUD-tool available for the rehabilitation and long-term preservation of the nation’s aging public housing inventory. It allows access to private financing. Since its creation in 2012, the program has been continuously evolving, allowing more projects to participate. Gonzalez Advisory knows all the ins and outs of RAD and uses all available instruments and financing options to deliver viable transactions from initial assessment to closing.
LIHTC DEVELOPMENT
Most who work in the affordable housing industry would agree that the low-income housing tax credit (LIHTC) is the most important resource for creating affordable housing in the U.S. today. Since its inception, the LIHTC has financed more than 2.7 million affordable rental homes. While low-income housing tax credit equity is only one of several ways to finance RAD developments, it is the most common. More than half of RAD conversions have included tax credits in their funding. When considering competitive credits, we assess local demand and supply considerations and pre-score your project before stepping into a tax credit application.
Asset Monitoring and management
For busy limited partners in real estate partnerships, we review assets’ operating performance, prepare financial projections and communicate issues that may place a project at risk. From there, we will tailor an action plan to mitigate risk and protect the investment so clients can worry less about liabilities and concentrate on growing their portfolios.
SECTION 18 DEMOLITION/DISPOSITION
The repositioning of a particular property could result in a redevelopment opportunity. In other cases, land can be disposed of to public/private partnerships, swapped for a more desirable location, or sold to generate investment proceeds to use at a different site. Gonzalez Advisory is highly skilled in navigating the public housing demolition and disposition process where federal approval is granted on a case-by-case basis.
FUNDING AND STRUCTURING
For over 15 years we have obtained financing and secured funding for the development of over 1,000 housing units. Our services in this area help you to identify sources and integrate multiple funding sources to develop a successful project. We guide the process through funding applications, negotiation of loan and equity terms, and management of due diligence and underwriting.
year-15 refinancing
Each affordable housing development that utilizes LIHTCs has a 15-year compliance period. When a property reaches the end of this period, its ability to provide affordable units is compromised as units begin to deteriorate and major systems need repair. When approaching this point, owners must decide how to address the rehabilitation needs of a 15-year-old property. We can help you understand and implement the options available so that you can plan for not only the financial future of the property but also for the well-being of the residents.