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LENDER
SOLUTIONS - PROJECT MANAGEMENT for MASTER PLANNED COMMUNITIES
Precept has a unique set of skill sets that are available to
help Lenders that have foreclosed or are in the process of foreclosing
on large master planned communities involving complicated taxing
structures such as Municipal Utility Districts or Mello Roos
bonds as well as numerous important “entitlement agreements” with
municipalities, counties and regional utility providers. To protect
the value of the project, Precept can analyze and maintain these
key entitlement documents and milestones as well as establish
an open dialogue with the key decision makers and managers to “re-work” the
agreements. In many cases these entitlement commitments simply
don’t work in today’s economy and need to be renegotiated
by someone experienced in working with local and state governments
and regional utility providers. Based on our experience, we can
also identify what are essentially “off the balance sheet
liabilities” that even though a Lender is not legally obligated
to pay, the project would fail and/ or key entitlements lost
without taking over certain obligations of the Bonding Districts
or utility operations that are no longer subsidized by the previous
owner/developer and will soon run out of cash.
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