Affordable Housing Fund Program Financial Underwriting Services

The Vendor is required to provide financial loan underwriting services to assist the County with determining the financial feasibility, risks, and opportunities of affordable housing financing applications to the County’s Loan Programs
- Underwriting Summaries and Comparative Analysis (up to 20 applications per year) –The contracted vendor shall financially underwrite each application in accordance with generally accepted standards and practices and provide comparative summary analysis of the underwriting results of each application.
- Final Underwriting Reports (up to five applications per year) – The contracted vendor shall prepare a comprehensive and detailed underwriting analysis report and detailed Credit Memos in a format agreed to by agency for each application, summarizing each application, particularly the financial details, and providing conclusions about the financial feasibility, risks, subsidy layering analysis, stress testing, review of development and construction budgets and evaluation of long-term affordability compliance risk and opportunities associated with each application.
- Shall assist in reviewing third-party reports, legal documents, construction agreements and development contracts