Expanding investments in housing and other real estate and supporting healthy environments and lifestyles
What are 2 of the Building Sustainable Communities goals
100
This document is used pre-RPA to gain feedback on initial underwriting issues
What is the Project Intake Form
100
6%
What is LISC's short-term lending rate
100
Current assets / current liabilities
What is the current ratio
100
A lien on a property
What is a mortgage
200
Mike Sviridoff
Who was the first president of LISC
200
The standard maximum allowable LTV
What is 90%
200
Loans above this amount have to go to the Program Review & Evaluation Committee (PREC)
What is $2,000,000
200
Will be converted to cash or used to pay liabilities within 12 months
What is a current asset
200
Provides tax credit incentives to investors for equity investments in certified Community Development Entities, which invest in low-income communities
What is a New Markets Tax Credit program
300
The former Chicago Housing Authority Commissioner who left the LISC Board to work for President Obama
Who is Valerie Jarrett
300
The usual maximum allowable age of an appraisal
What is 6 months
300
LISC loan product that is designed to meet organizational capital needs
What is a working capital line of credit
300
2 years
What is the number of years a cash flow projection must cover
300
A retail store in a shopping center used as a major draw to the center
What is an anchor tenant
400
Current President of the Boston Foundation who as LISC President from 1986 – 1998 increased LISC’s local programs from 12 to 41 sites
Who is Paul Grogan
400
LISC will not take this position in relation to another non-profit or government entity
What is a subordinate lien, standstill or subordinate payment position
400
If the CDC does not repay the interest or principal of its loan from a third party lender, LISC must pay it directly to that Lender
What is a payment guarantee
400
Refers to the standard framework of guidelines for financial accounting
What is GAAP (Generally Accepted Accounting Principles)
400
Used to determine the amount of cash flow available to cover debt obligations
What is the debt service coverage ratio
500
Current political figure who drafted and closed several loans for LISC in Chicago in the mid-90’s
Who is Barack Obama
500
Tool used to demonstrate that the operating phase of a project “pencils out” or has identified sources of ongoing operating support should they be necessary
What is the operating pro-forma
500
The number of months a loan commitment expires after reaching final approval
What is 6 months
500
Resources that have been restricted by the donor in perpetuity
What are permanently-resticted assets
500
The ratio between the net operating income produced by an asset and its capital cost or value