Residential Developer Financial Readiness

FAQ

What will this workshop cover?

This workshop will cover managing development costs and financial sources and effectively using owner’s sworn statements, general contractor’s sworn statements, lienwaivers, and other documentation as required by CDFI’s and public agencies for managing a line of credit and revitalizing a property in a publicly funded program.

Who is the target audience for this workshop?

If you are a general contractor seeking to launch a development business and practice, or a developer with limited experience, or a developer that has experience acquiring and holding properties, but has not effectively sold properties, this course is for you. If you have experience utilizing hard money lenders or self-financing, and are looking to become familiar with conventional financing tools, this course is for you. If you have practice and experience with these aspects of the development business, but are returning after a break, this course is for you.

What is the cost of the workshop?

CCLF is able to offer this incredible workshop to you without cost, as the entire program expense is covered under the Chicago Neighborhood Rebuild Program. We estimate the total value of this workshop at approximately $1,500 per developer.

Who is teaching this workshop?

The workshop will be led by Rob Rose, a veteran practitioner and expert in the community development field, who formerly led the Cook County Land Bank Authority, and served as CCLF’s former COO.

Does successful completion of this workshop guarantee that I will be approved for a CCLF Line of Credit, or other source of Rebuild financing?

The workshop provides customized opportunities to refine a line of credit or other CDFI funding application to support your project and your business growth, but all loan underwriting will occur apart from the program and by lending agency staff. Demonstrating successful completion of this course will positively impact your loan application with CCLF and other CDFI lenders.

Will there be food and refreshments?

Yes, food and refreshments will be part of this all day workshop, with coffee and light breakfast offered in the morning, and lunch offered and refreshments offered as well.

I think I have additional questions- who should I contact?

Please contact David Feinberg at [email protected]. David Feinberg is the Director of Coaching and Knowledge Transfer at CCLF.