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Above: |
Ribbon cutting
at Carver Neighborhood Townhomes in Abilene, Texas |
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Developer of affordable housing - another important role that NDC can play in helping our client communities meet their housing objectives.
Although we assist our clients in finding and evaluating both for-profit and not-for-profit housing developers, and in working with those developers through all aspects of the housing development process, NDC can and does become developer, if that is what the job requires. Through our Housing and Economic Development Corporation (HEDC) we finance and develop affordable housing of all kinds. Throughout the country, thousands of people - families, elderly, disabled, formerly homeless - are living in affordable rental housing or homes they own, developed and financed by NDC's HEDC.
As sponsor or owner/developer HEDC is responsible for
- Designing and costing of project
- Creating the development budget and pro forma financial information
- Reviewing project feasibility
- Identifying and securing private sector financing
- Finding and securing public sector financing as needed to fill gaps
- Finding and securing equity
- Developing an RFP or RFQ for all contractors
- Negotiating all contracts
- Obtaining legal opinions
- Closing the deal
- Overseeing and managing project implementation and construction
- Evaluating and selecting competent property management
- Operating the facility after completion
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