Documents

Exhibits required to review loan requests:

New Construction/ Substantial Rehab of Apartment Projects 
(HUD 221 (d)4)

    •    Preliminary architectural plans, if available
    •    Location
    •    Breakdown of number of units by type
    •    Land cost for acquisitions
    •    Management company experience if available
    •    Owner-elected repairs
    •    Planned amenities (examples:  pool, clubhouse, unit finishes)

Acquisition and Refinancing of Existing Apartment Projects 
(HUD 223 (f))

    •    Description of Project
    •    Location
    •    Financial statements for the last three years
    •    Breakdown of number of units by type and monthly rent
    •    Sales price for acquisitions
    •    6 months occupancy history
    •    Owner-elected repairs

New Construction/Substantial Rehab of Nursing Homes 
(HUD 232)

    •    Description of proposed project
    •    Location
    •    Preliminary plans, if available
    •    CON, if required
    •    Breakdown of number of beds
    •    Proposed per day rates for Medicare, Medicaid and private pay
    •    Land acquisitions cost
    •    Proposed estimated construction cost or rehabilitation cost, if available

Nursing Homes and Assisted Living Facilities 
(HUD 232/223 (f))

    •    Copy of state license, if applicable
    •    Balance sheets, statements of income and expenses and “Statement of Change
         in Financial Position” on the existing facility for the last three years
    •    Current pay rates for Medicaid, Medicare, and private pay
    •    Breakdown of numbers of beds/units by type
    •    Census for last 6 months

Hospitals

    •    Description of the hospital - include improvements to be made and equipment
         to be purchased
    •    Three years financial statements
    •    Latest interim financial statement