|
0 |
Mo. 2 |
Mo. 3 |
Mo. 4 |
Mo. 6 |
Mo. 8 |
Mo. 10 |
Mo.11 |
Mo. 12 |
Mo. 13 |
Mo. 14 |
Mo.15 |
Mo.16 |
|
| Site selection and financing parameters
determined |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Application to local government
for 1st 50% of CAP + project endorsement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Decision by local governments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Application to credit enhancer
(AA/Aa or better) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Application to State Housing for
remaining bonding authority (CAP) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Underwriting review by State Housing
and decision on balance of CAP |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposit of initial Cost of Issuance
expenses + tax and legal analysis begin |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Findings of Fact on project sent
by State Housing to Board of Finance |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Board of Finance decision |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Preparation of bond documents,
credit enhancement documents, tax credit documents |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sale of bonds to Wall Street |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Close of real estate, bond, tax
credit and loan transactions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
