TAG specializes in proving consulting services and technical assistance in the areas of development planning and finance, including the preparation of proformas and operating budgets, as well as in tax credit assistance. We have been particularly successful in assisting PHAs to maximize their return from investors in mixed-finance projects through the solicitation of and negotiation with tax credit equity syndicators and both traditional and non-traditional debt financers. We believe in the capacity of public and private partnerships to achieve positive outcomes in affordable housing and thus possess a mastery of collaboration with stakeholders and development partners in order to assist our PHA clients in self-development.
TAG has been a strong advocate for PHA financial involvement in the development projects for which it provides assistance. This includes the sharing of development fees with at-risk partners and/or self-development through the use of PHA instrumentalities. In many instances, the PHA (through its instrumentality) becomes, or will become the managing member of the partnership, and eventual project owner at the end of the tax credit compliance period. TAG has assisted in the creation of self-development, co-development, and sponsor development structures. This helps to ensure the future affordability of the units which benefits the clients served by the PHAs.
Rental Assistance Demonstration
TAG has successfully assisted numerous PHA clients through the RAD process from the assessment phase to submitting successful RAD applications, and from the award phase and into development. Perhaps our strongest attribute is the close relationships we share with the RAD Team at HUD and with national recognized lenders and investors. A constant line of open communication allows TAG to acquire answers and address issues concerning RAD promptly. At any given time, we are likely providing RAD related development and financial consulting services to several public housing providers.
Low Income Housing Tax Credits
TAG Associates has worked on a wide number of development and redevelopment projects that have achieved highly leveraged financing through the use of Low Income Housing Tax Credits, tax-exempt bonds, and other state and local government funding and private financing. We assist PHA’s through the entire LIHTC process: determining project feasibility, preparing and securing 4% and 9% LIHTC applications, selecting and negotiating with lenders and investors, negotiating with Housing Finance Agencies and other providers of funding, managing development budgets from inception to conversion and monitoring compliance. For many PHA’s, TAG also assists in determining strategies as tax credit projects come to the end of their compliance periods and opportunities arise for refinancing.
TAG’s extensive expertise with all areas of public housing development, finance, regulation and management uniquely position us with the ability to develop medium and long-term planning strategies to PHAs. Further, the relationship we maintain with industry specialists and experts enable us to provide comprehensive and modernized assistance. TAG works with PHAs to identify and develop strategies and opportunities to redevelop, develop or preserve and expand their affordable housing assets. TAG Associates’ areas of expertise include:
- Financial management
- Strategic planning
- Long-range financial planning
- Accounting services
- Budget development
- Site-based accounting/site-based budgeting
- Financial reporting
- Audit management
- Development of property specific AELs
- Resource allocation
- Private management setup, review, and oversight
- Management assessments
- Workout plans
TAG Associates has been at the forefront of developing asset and site-based management structures at large PHAs using an approach that has helped define the components of asset management of large public and subsidized housing portfolios (including Private Management sites). The TAG team is experienced in reviewing on-site activities, analyzing data for annual management audits, developing and implementing protocols describing what asset managers should be evaluating and examining, providing training that illuminates asset management to housing authority staff, as well as revising job descriptions for asset managers which relate directly to performance measures. TAG also has developed an asset management methodology for capital improvements. Drawing on our many years of experience with private management of public housing and our formative role in bringing mixed financing to public housing, TAG has worked with a number of major Housing Authorities to effect a transition from the traditional public housing management model to the advanced asset management models used in the management of private market properties. Our team also has extensive experience in developing Resident services programs and reviewing admissions and occupancy procedures.