TAXABLE BOND FINANCING
Weiss Advisory acts as Management
Advisor to clients that are seeking tax-exempt and/or taxable bond financing. These borrowers include manufacturing and industrial
companies as well as non-profit organizations with federal 501(c)3 status.
Due to contemporary changes in regulations, religious and independent
schools, yeshivas, charter schools, community centers, student dormitories, adult housing centers and other nonprofits are
provided with financing options that were previously only available to other sectors of the education community.
Tax exempt bonds issued through the Industrial Development Agency
(or other agencies) for non-profit organizations with federal 501(c)(3) status are an excellent vehicle
that can be used to finance construction, acquisition, renovation, and equipping of facilities as well as to contemporaneously
re-finance existing mortgage debt.
Although the bonds are not an obligation of the State or its agencies, borrowers obtain
lower interest rates because purchasers of triple tax-exempt bonds are entitled to exemptions from federal, state and local
income taxes on interest payments received.
Bond amounts can range from $5 million to $50 million, and higher. Compared with conventional
loans, advantages of triple tax-exempt bonds can include reduced interest rates, longer financing terms and lower equity contributions.
In New York, borrowers can also benefit from the mortgage recording tax waiver (which is 2.8% in New York City).
We make things
happen! We will take you through the entire process and we get proven results!
We will work actively with
your organization to gather the background information, prepare the applications, meet with representatives of appropriate
agencies, participate in presentations at hearings, assist with the Tax Questionnaires, prepare the written 300 - 400 page
report to be presented to potential lenders / investors and structure the proposed financing.
can close in 120 – 150 days.