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    Hoboken Office | 201-656-0115

    Medford Office | 609-953-7555

    Pennsylvania Office | 610-326-4900

  • 2004 New Jersey HUD Capital Pooled Leveraging Financing

    In December 2003, NW Financial Group was contracted by the Morristown Housing Authority, the lead Authority for the pooled financing, to prepare individual management assessment reports for the 22 public housing authorities participating in the New Jersey Housing and Mortgage Finance Agency Capital Fund Program.  Throughout the process, NW Financial Group participated in ongoing working group meetings which included Bond Counsel, Financial Advisor, Underwriter and the participating Authorities.  As with the North Carolina CFFP, the assessments entailed review of each Authority’s program administration, staffing qualifications, capital planning and modernization activities, other ventures including HOPE VI and mixed financing/LIHTC developments, financial management, planned use(s) of leveraging proceeds and a conclusion/recommendation.  The process included an extensive review of Authority documentation including but not limited to the audited financial statements, HUD 5-year plans, procurement policies, PHAS reports and physical needs assessments.  We performed a site visit to each Authority and held meetings with the Executive Director and/or staff responsible for coordinating the organization’s participation in the pool.  In addition, we held discussions with the Newark, NJ HUD Field Office regarding each Authority’s standing with HUD and ability to participate in the program.  The reports were reviewed and subsequently approved by the working group and included in the Capital Fund Financing Program (CFFP) application.

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    Corporate Headquarters

    2 Hudson Place, 3rd Floor
    Hoboken, NJ 07030
    P: 201-656-0115
    F: 201-656-4905

    Medford Office

    617 Stokes Road, Ste. 4, #322
    Medford, NJ 08055
    P: 609-953-7555

    Pennsylvania Office

    886 Vaughn Road
    Pottstown, PA 19465
    P: 610-326-4900
    F: 610-326-4902