In the event a RAD Conversion requires the rehabilitation of existing apartments or the construction of new apartments, RAD Conversion Specialists (RCS) is ready, willing, and able to assist the PHA navigate the complex development arena.
Unlike typical consultants, RCS has significant, practical experience implementing and completing all types of residential projects. RCS has the proven skills, knowledge, fortitude, and financial capacity to complete projects in a timely manner and strives to exceed all expectations of the PHAs we work with.
- Assist with the selection of – and coordinate activities of – the project architect, engineer, and general contractor.
- Feasibility Analysis – review third party reports, including environmental site assessments, appraisals, market studies, title commitments, PCNAs, surveys, etc.
- Facilitate zoning and site plan approvals, when necessary.
- Facilitate PILOT agreements, when necessary.
- Funding Options and Solicitation – solicit proposals for tax credit investors and lenders, evaluate same, and make recommendations.
- Prepare and submit applications for low-income housing tax credits and other funding sources.
- Provide guarantees for construction completion, operating deficits, and tax credit recapture, as required/negotiated.
- Coordinate financial closings.
- Construction Management – attend periodic construction meetings and prepare monthly construction draw requests.
- Prepare and submit placed-in-service applications.