Funder workspace Sonoran Community FoundationSwitch to Pinal Health Legacy FundSame deal and evidence, the other funder's policy.

Guided tour · Step 8 of 14

The stored draft

On this page. A draft memo about the deal, written from the active evidence version and a fixed checklist, never from a policy, so every funder sees the same draft. The counter says how many cited quotes were found in the evidence; the line under it counts the claims and the questions for the sponsor. Finding a quote is not the same as supporting a claim; that call belongs to the reviewer. The seeded sample carries one planted mistake, and the page says so: its claim on prepayment goes further than the passage it cites, so its quote is not found. "Generate a draft from the evidence" has a model write a new draft from the evidence record only; the same quote check runs on it, and it is stored unreviewed.

Try this. Click a citation chip to jump to the passage it quotes; try the prepayment claim's. If the active evidence version has no draft, as after a switch to the sponsor's version, the page says so, and generating one is how the story goes on. Generation is limited to 10 for a deal in any 24 hours; on a deployment without a model key the control says it is not configured. A newer draft makes an attestation of an older one stale, and nothing is deleted.

Back Next: Review and attest

Draft memo

Riverbend Housing Note: draft memo (deal facts, no policy)

seeded Seeded sample draft: hand-written, not an AI run. Bound to evidence version ev_riverbend_1, the deal's active version (evidence versions). The draft is reusable across funders: it was produced from the evidence and a fixed deal-facts checklist, never from a policy.

Generate a draft

A model writes a draft from the evidence record and the fixed deal-facts checklist only; it never sees a policy or an evaluation. The result is unreviewed: each quote is checked against the evidence, and whether a quote supports its claim stays the reviewer's judgment.

A new draft becomes the working draft for this evidence version. The current draft stays stored, and any attestation bound to it is marked stale.

Quotes located in evidence: 12 of 13. Whether a quote supports its claim is the reviewer's judgment.

Claims in this draft: 15. Citing a quote: 13, of which 12 located in the evidence. Questions for the sponsor with no citation: 2.

This seeded sample draft contains one claim that the evidence contradicts. It was written that way on purpose, as an exercise for the reviewer to catch.

Shared across funders

Shared evidence record and draft. Policy fit, review and decision belong to this workspace.

Draft: dr_riverbend_1
Provenance: seeded Seeded sample draft: hand-written, not an AI run.
Evidence version: ev_riverbend_1
Quotes located: 12 of 13

The draft binds to the evidence version, never to a policy, so every funder workspace shows the same stored row and the figures above are identical in each.

Borrower

Riverbend Community Land Trust is an Arizona nonprofit recognized under section 501(c)(3), incorporated in 2014. borrower-profile/bp-1 · located
The trust stewards 118 homes, including 42 rental homes, and reports 97 percent average rental occupancy over three years. borrower-profile/bp-2 · located
The trust reports no loan losses in nine years and no missed scheduled payments. borrower-profile/bp-3 · located

Instrument and security

The request is a $750,000 senior secured note at 3.0% fixed for 5 years, with principal due at maturity. term-sheet/ts-2 · located
The note is secured by a first lien on the 42 homes and an assignment of rents, with a 1.20x debt service coverage covenant. term-sheet/ts-3 · located
Prepayment is permitted without penalty at any time. term-sheet/ts-2 · not located
Planted review exercise: the passage this claim cites says something different.

Financial condition

Fiscal year 2025 revenue was $4.1 million against $3.6 million of expenses. financials-fy2025/fs-1 · located
Debt service coverage on the rental portfolio was 1.32x in fiscal year 2025. financials-fy2025/fs-3 · located
The independent auditor issued an unmodified opinion and reported no material weaknesses. financials-fy2025/fs-4 · located

Project and impact

All 42 homes will be rented to households at or below 60 percent of area median income under a 30-year affordability covenant. project-description/pd-2 · located
The homes are in Tucson and South Tucson, Pima County, Arizona. project-description/pd-1 · located
The first 20 homes are under contract for closing within 90 days of funding. project-description/pd-3 · located

Capital stack and open items

The trust contributes $400,000 of equity from its reserves. sponsor-letter/sl-1 · located
No lender decline is in the evidence; the two bank conversations are described as continuing. question for the sponsor
Question for the sponsor: Has any lender declined this request? Provide the decline letter or the bank's written response.
No co-investor commitment is in the evidence; the housing fund conversation is uncommitted. question for the sponsor
Question for the sponsor: Is any co-investor commitment in writing? Provide the commitment letter or term sheet.

Open items from the draft

s2c3: quote not located for “Prepayment is permitted without penalty at any time.”
s5c2: Has any lender declined this request? Provide the decline letter or the bank's written response.
s5c3: Is any co-investor commitment in writing? Provide the commitment letter or term sheet.