Evidence version 1 · sponsor letter
Sponsor cover letter
Showing evidence version 1 (ev_riverbend_1), the deal's active version.
A synthetic document, split into the passages a draft memo can quote. The table below lists the facts the checks read from it, each with the passage that states it. The deal and its documents · Evidence versions.
Request
We request a $750,000 senior note from the foundation's catalytic sleeve to acquire and rehabilitate 42 rental homes. The total project budget is $1,400,000. The note would fund $750,000 of it, alongside a $400,000 equity contribution from the trust's reserves and the $250,000 subordinate loan for rehabilitation that we are seeking (see Other capital).
cited as sponsor-letter/sl-1
Other lenders
We have approached two regional banks about a conventional acquisition loan on these terms. Both conversations are continuing and neither bank has issued a commitment or a decline.
cited as sponsor-letter/sl-2
Other capital
We are in conversation with a statewide housing fund about a subordinate loan of up to $250,000 for rehabilitation. No commitment has been made and the fund's board meets next quarter. If it is not committed, the note and the equity cover acquisition, closing costs and reserves, and $107,000 of rehabilitation; the remaining $250,000 of rehabilitation would wait for other funding.
cited as sponsor-letter/sl-3
Facts the checks read from this document
Wide table: scroll sideways to see every column.
| Fact | Value | Stated in |
|---|---|---|
| Sponsor's equity contribution stored as equity_contribution | $400,000 | Request |
| Other lenders approached stored as other_lenders_approached | two regional banks; no commitment or decline issued | Other lenders |
| Other capital sought stored as other_capital_sought | statewide housing fund, up to $250,000, uncommitted | Other capital |