WHAT WE DO OUR COMMITTED PARTNERSHIP APPROACH ASSET DEVELOPMENT Provident’s partnership for each project begins with working with all project partners and beneficiaries to ensure goals and objectives are met, with efficient access to cost-effective financing involving market-accepted terms and conditions that both ensure execution as well as flexibility and adequate risk transfer for our partners moving forward. During the development phase, Provident’s efforts include, but are not limited to: Preparation and submittal of Project financing application to Conduit Issuer Oversee preparation and filing of organizational documents for Special Purpose Entity Active participation in negotiation and preparation of Borrower Documents and Bond Documents Establish & maintain bank accounts as required under Bond Documents Monitor activities of all third-party consultants and advisors to Special Purpose Entity Oversee property and sales tax exemption application and process where appropriate Monitor compliance with Bond Documents Monitor compliance with Borrower Documents Ensure appropriate books and records relating to Project are maintained Monitor compliance with construction period contracts Coordinate construction requisitions and monitor compliance with Borrower and Bond Documents ASSET MANAGEMENT Provident’s partnership does not end with financial closing. We are committed to active, prudent participation on each Project for the life of the financing. Thanks to the hard work of Provident’s full-time staff of more than 25 professionals, our ongoing support of each Project is essential to its success. For the life of the financing, Provident’s asset management efforts include, but are not limited to: Monitor post-issuance tax compliance for the transaction, including tracking andallocating bond proceeds, analyzing private use of Project, monitoring arbitrage compliance and retention of appropriate records and documentation Direct and supervise investment of Project related funds under terms of Financing Transaction Coordinate and monitor treasury and banking related matters, including cash management Provide necessary administrative services to monitor compliance with responsibilities under the Borrower Documents and Bond Documents Monitor and evaluate performance of independent managers and consultants Active participation in the preparation, approval, and implementation of Annual Project Budget Monitor compliance with Annual Budget (as defined in the Indenture) for the Project Review and approval of third-party contracts Review monthly operational and financial reports Consult, as necessary, with independent auditor engaged to conduct annual financial audits Consult with insurance consultant to monitor the maintenance of all required insurance Consult with property tax consultants to monitor necessary appeals Arrange for the calculation and payment of any arbitrage rebate payments to federal government in connection with the financing Satisfy federal tax reporting requirements (Forms 990 and 1099) Assist in coordinating meetings and agenda of Project Operations Committee and Board of Managers and related governance matters ABOUT MISSIONS GOVERNANCE CONTACT US