The Capital Issue

Winter 2011

December saw the expiration of several financing options, and many providers may be wondering what is left in the aftermath of the American Recovery and Reinvestment Act and the market downturn. The answer is, quite a bit. Transactions are still being completed and have been getting done throughout the depressed economy. This edition's article, "Several Windows of Opportunities Close, but Options Remain" delves into details, and our affordable housing article explains why housing developers may want to take another look at tax-exempt financing in 2011.

We're pleased this edition to include an article on conflicts of interest co-authored by Kevin Kinross of law firm Bricker & Eckler. Other topics include obligated groups and a case study on National Church Residences' nonprofit home health care program.

If you have any questions on these topics or would like us to visit in person to explain them, please don't hesitate to contact us.

Thomas R. Green, CEO

What Should Be In Your Obligated Group?
1/5/2011

What Should Be In Your Obligated Group?

Multi-facility or multi-asset organizations faced with issuing or refinancing debt have an opportunity not afforded to stand-alone facilities: the ability to become greater than the sums of their individual parts.

Several Windows of Opportunity Close, But Options Remain
1/4/2011

Several Windows of Opportunity Close, But Options Remain

The end of 2010 saw the expiration of a number of options for hospitals seeking financing for capital projects. These temporary measures stemmed from the American Recovery and Reinvestment Act (ARRA) and other Congressional action, and they leave hospitals with yet another shift in the financing landscape that requires re-examination of available avenues.

Nonprofit Home Health: Learnings from National Church Residences
1/3/2011

Nonprofit Home Health: Learnings from National Church Residences

Several years ago, National Church Residences saw a hole in what had historically looked like a complete continuum of seniors housing and health care. Residents at its affordable senior housing apartment complexes needed additional services, but didn’t need to move into NCR’s assisted living or nursing facilities.

Considerations When Considering Bonds in 2011
1/2/2011

Considerations When Considering Bonds in 2011

After a three-year slump in which the market for them evaporated, 4% low-income housing tax credits are starting to return as an equity option for affordable housing developers. In larger markets, developers have been able to find investors willing to purchase 4% tax credits at competitive rates.

Thinking Beyond the Financial Aspect of a Conflict of Interest
1/1/2011

Thinking Beyond the Financial Aspect of a Conflict of Interest

Congratulations, you have just been asked to serve on the board of a local nonprofit corporation. At your first meeting, the board is set to make a decision on engaging a new financial advisor. You are excited to see that a former mentor who helped propel your professional career is one of the finalists being considered. You have always felt in debt to this individual for helping you launch your career.