Following are brief examples of financial advisory services provided by S.B. Clark Companies. Engagements can be structured on a retainer, specific-fee-for-service, hourly basis, or any combination of these. Please note that this is not an exhaustive list of services, as each client’s needs and situation are unique.

Financing Transaction Support Services
S.B. Clark Companies supports and advises an issuer during the preparation and execution of a specific financing transaction. This often includes evaluating financing feasibility, evaluating private versus public offering formats and negotiated versus competitively bid pricing execution, developing the timetable of events, creating rating agencies’ presentations, reviewing legal documents, providing independent verification of market conditions, preparing post-pricing analysis, and acting as proceeds reinvestment bidding agent.

Proforma Financial Feasibility Studies for Development
and Redevelopment
The firm assists housing authorities and developers in determining the types of financing that may be appropriate to financing new developments or acquisitions, or refinancing existing developments to rehabilitate existing housing. This may include discussion regarding 4% and 9% low income housing tax credits (LIHTC), new markets and historic tax credits (NMTC/HTC), private activity bonds (PAB), HOPE VI projects, investment grade tax-free bonds, bank qualified bonds, line of credit (mezzanine), and other appropriate financing.

Tax Credit Support Services
The firm has wide experience preparing applications for low-income housing tax credits and assisting general partners in placing such interests with limited partners to facilitate affordable housing developments. The firm is also experienced in the application preparation and negotiation with community development entities (CDEs) for new markets tax credits (NMTC) and investors for historic tax credits.

Interest Rate Swaps, Caps, and Collars
S.B. Clark Companies advises clients regarding these derivative applications, providing risk assessment, and in some cases competitive bidding processes.

Securitization of HUD Public Housing Capital Funds
and Fairness Opinions
S.B. Clark Companies works with housing authorities to provide the board and staff with the appropriate actionable understanding of their options as it pertains to the possible securitization of HUD Public Housing Capital Funds (also called Capital Funds Financing) to forward-fund needed capital improvements. S.B. Clark Companies also has experience providing the required Fairness Opinions needed for CFFP financings.

Debt Capacity Analysis
S.B. Clark Companies provides an independent review of a client’s debt capacity, typically employing a comparison analysis to published rating agency medians.

Letter of Credit or Liquidity Facility Renewals
As financial advisor, the firm arranges competitive processes to renew or replace credit and/or liquidity facilities from previous financings. This process is technical and time consuming, and usually tax-exempt bond issuers and their administration personnel have far more pressing time requirements.

Board Member Education
The firm assists in providing “Bond Finance 101” education sessions for new board and/or finance committee members, or, similarly, in preparation for rating and/or insurance analysis’ meetings.

Ongoing Market Condition Reporting
S.B. Clark Companies provides periodic updates as to market conditions to an issuer’s administration and/or board or finance committee during times when a financing transaction is not being contemplated; this includes appraisal of refunding opportunities.

Rebate Calculation and Verification
Often, for tax-exempt bond issuers, rebate tracking and calculation can require critical time and resources. S.B. Clark Companies is experienced in providing these rebate calculations.