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5 - AGMT FOR HSG FIN ANALYSIS AND ADIVSORY SERV
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5 - AGMT FOR HSG FIN ANALYSIS AND ADIVSORY SERV
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5/7/2015 4:39:47 PM
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City Clerk
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Agenda
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Community Development
Item #
5
Date
4/7/2015
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CSG Advisors hicorporated January 28, 2015 <br /> Proposal: Housing Financial Analytical wid Advisory Services Page 15 of 25 <br /> in StRICRII-ing financings based oil established structures bLIt also it) evaluating newly proposed <br /> structures and vehicles. <br /> He has provided numerous services to issuers, including structuring affordable housing developments to <br /> USC 1A)"A' Inconle Housing Tax Credit (LIHTC) syndication proceeds (both 4% and 9%); developing <br /> bond issuance policies, performing default refunding analysis; providing advisory services on 18 single <br /> and more than 115 multifamily tax-exempt bond issues for a total par value of over $356 million and <br /> $1.37 billion, respectively; evaluation of potential acquisition and rehabilitation projects; feasibi[ity <br /> analyses for public agency subordinate loans and workouts; eVaILI-afion of expiring Section-8 projects, <br /> and structuring over $100 million of HOPE' VI financings. Major clients include the City of Los <br /> Angeles, the City and County of San Francisco, the City of 0- <br /> akland, and the San Diego I lousing <br /> Corrlmission. <br /> Mr. Hamilton holds a Masters in City Planning from the University of California, Berkeley and <br /> Bachelor of Arts and Bachelor of Music degrees from Oberlin College. <br /> 4. Scope of Services <br /> Multi,Family Bond Financings <br /> Financial Advisor. We represent the issuer on bond transactions. Our work on MIlltifamily bond <br /> issues would generally include: <br /> • identify major iSSLICS and concerns; <br /> • create and coordinate the financing schedule, particularly to assure tfinely iSSLIance of bonds <br /> within issuer approval constraints and applicable allocation expiration dates; <br /> • coordinate selection of members of the finance team such as trustees and underwriters, <br /> including drafting and distribution of solicitations and analysis of responses; <br /> • evnIuate the proposed bond structure and credit enhancement (including analyzing and <br /> proposing alternative structures to nii.nirnize interest cost and maximize proceeds); <br /> • review documents to ensure that issuer policies are fully inlplenlented; <br /> • review the preliminary and final offering statement; <br /> • assisting in bond pricing (including analyzing market conditions and negotiating with the <br /> underwriters on the rate for each maturity), <br /> • assist with obtaining investment agreements, and <br /> • assist at bond closing, including preparation of a closing/flow of funds memorandum, good, <br /> cost/bad-cost analyses (as may be rCCILIested by counsel), etc. <br /> As a registered Municipal Advisor Under SEC and MSRB rules, we provide independent advice to the <br /> public agency issuer on transactions and in independently reviewing proposals fi-oni bond unclem T I-itcrs. <br /> Additional Assistance on Private Placement Transactions, We also provide all expanded range of <br /> sciwices, depending upon the transaction. For instance, for private placements - which have become <br /> increasingly common, particularly in California - we manage all aspects of the transaction in lieu of an <br /> miderwriter and also retain our financial advisory functions on behalf of the issuer. Where the issuer is <br /> also a subordinate lender, we review the subordinate loan documents in concert With the bond <br /> documents to ensure the relevant provisions Of the SUbordinatc loan, e.g., transfer restrictions, default <br /> and remedies, indemnifications, affordability restrictions, etc. are not vitiated by the terms of the bond <br /> documents (and are aMiratcly reflected therein), which may be lender- (or credit enhancer) driven and <br />
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