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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