Executive Summary-New Construction Initial Submission FHA number: Project name: Project location: <<street address, city, county, state, and zip>> Lender’s name: Lenders UW: UW trainee: Borrower: Operator: Parent of operator: Management agent: General contractor: License holder: Borrower Operator Management agent Residents will contract with: <<Entity with whom residents will contract for services>> Section 38 of the Regulatory Agreement shall apply to the following individuals and/or entities (list name(s)): Type of Facility: Licensed Operating Licensed Operating Skilled Nursing (SNF): beds units Assisted Living (AL): beds units Memory Care (AL): beds units Board & Care (B&C): beds units Independent Living (IL): beds units Total: beds units Mortgage Amount: $ Loan-to-value: % Loan to transaction cost: % Term: years Interest rate: %
Estimates at Initial SubmissionConstruction contract: $ Offsites $ Demolition $ Total construction costs: $ Major Movable Equipment Budget: $ Construction Period: # of months: Architectural contract: $ Multiple AIA Agreements Anticipated First Year of Stabilized Occupancy FTE’s As reported on Form Operating Revenues SWB As reported on Form Operations - post construction $ $ ORCF
Net Income Analysis Net Income* In total $ 20XX 20XX 20XX YTD (Indicate time frame) $ $ $ *before depreciation, amortization, and any other non-cash expense <<Provide an explanation of any Net Losses or declining Net Incomes for the year-to-date and last 3 fiscal years, as applicable.>> Conclusion <<Provide narrative discussion of underwriter’s conclusion and recommendation. For example, “The operator entity has demonstrated an acceptable financial and credit history as demonstrated in our analysis of their financial statements and credit history as discussed above. The operator has the experience to successfully operate this facility. The underwriter recommends this operator for approval as an acceptable participant in this transaction.”>> Parent of Operator (if applicable) <<Provide this section for each parent organization of the operator. This section is not applicable to individuals who are principals unless you are depending on the person or persons for approval of the operator (e.g., newly formed entity). In that instance (individuals), follow the Principal of the Borrower template and modify it appropriately for an operator. >> Name: State of organization: Date formed: Termination date: Key Questions Yes No Is the parent of the operator rated by S&P or another rating agency? Is or has the parent of the operator been delinquent on any federal debt? Is or has the parent of the operator been a defendant in any suit or legal action? Has the parent of the operator ever filed for bankruptcy or made compromised settlements with creditors? Are there judgments recorded against the parent of the operator? Are there any unsatisfied tax liens? Does the parent of the operator have other HUD properties which are master leased separately from the subject project?
Lender: HUD Mortgagee/Lender No.: This report was prepared by: Date This report was reviewed by: Date <<Name>> <<Title>> <<Phone>> <<Email>> <<Name>> <<Title>> <<Phone>> <<Email>> This report was reviewed and the site inspected by: Date <<Name>> <<Title>> <<Phone>> <<Email>>