Notice to tenants and community about a first consultation meeting is sent. PAE hires an Appraiser to determine market rents, do an income and expense analysis and assessment of immediate repair needs. PAE hosts a Tenant Consultation Meeting at the project. Underwriting and restructuring process begins. Underwriter incorporates owner provided materials, findings of appraiser and PCA inspector.
Owner fixes any immediate health and safety needs at the project.
Notice to Tenants and community about a 2 nd tenant consultation meeting is sent. Draft restructuring is available for tenant comments. PAE hosts 2 nd Tenant Consultation Meeting at the project. Once approved by HUD, Closing process starts. Closing process is approximately 60 days.