LISC NYC Developers of Color Training Program - Information Session Thursday, October 7, 2021

LISC NYC
Developers of Color
 Training Program
    Information  Session
     Information Session
 Thursday, October
  Wednesday,  May 18,7,2022
                        2021
          2pm-3pm
          2pm-3pm

Our Challenge

                For too long, however, minority-owned firms trying
                to break into the industry have been boxed out.
                Structural barriers have prevented minority
                entrepreneurs from accessing capital and
                contract pipelines. The professional networks
                often necessary to get started in the industry are
                frequently out of reach.

                 Valerie White, Executive Director, LISC NYC
                                                           -ed

Survey Findings

               Market                          Financing & Access                     Technical Assistance

 Developers of color are not             Minority developers have limited        Experienced minority developers
 monolithic                              access to favorable capital             know their trade
                                         resources
 Market biases exist which perpetuate                                            More support is needed for
 the assumption that MBE businesses      There are various market and            emerging developers when setting
 are high risk                           systemic structures preventing          up there is a need for access to
                                         market participation: access to         resources for back and front office
 These biases impact access to           equity/mezzanine capital, agency        structuring
 capital, access to new business, etc.   prioritization, private relationships
 and they support existing structural                                            Emerging developers will thrive with
 barriers                                                                        additional technical and market
                                                                                 support

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Cohort 1 – Overview and Outcomes
• 12 diverse developers participated in LISC’s inaugural
  Developers of Color Cohort
• The training program included 4 modules and 3
  workshops totaling over 40 training hours
• Each developer received at least 3 coaching hours
• 10 of the 12 participants were matched with “Sharks”
  (industry investors) who furthered their deals
• Participants had the opportunity to speed network with
  more than 10 industry leaders

• Participants had intimate conversations and trainings with
  more than 15 industry professionals                          “Lendlease went above and beyond as a coach. They committed a financial
                                                               representative to help us have a better understanding and how to present better to
                                                               investors. They are still helping us after the program”

                                                               “Trufund reached out immediately after the event”

                                                               “Don Peebles and Meredith Marshall gave a fresh perspective and broadened my
                                                               scope on market rate housing space”
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Program Elements

• 6 weeks of instruction modules facilitated by market leaders
• In-person networking events
• One – on –one coaching by experienced real estate developers
• Real-time assistance with deals in the project pipeline
• Real-time support developing agency and industry relationships
• Access to equity capital with “Shark Tank” Investor Pitch at program conclusion

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Curriculum Overview
    Introduction to the Market                                                                         Structuring The Deal
•     LISC cohort 101                                                                              •      Defining your investment needs
•     Market Overview: affordable housing, market rate housing, transitional housing etc.          •      Negotiating the deal
                                                                                                   •      Structuring a JV or other partnership model
                                                                                                   •      Understanding and accessing the debt stack (subsidies, equity, debt, new
                                                                                                          market tax credits , state tax credits etc.)
                                                                                                   •      Understanding Insurance
    Structuring Your Business to do Business                                                           Project Financing
•     Developing proper staffing model: Essential staff for daily operations, scaling staff for a •       Bank underwriting/ unconventional financing
      project                                                                                     •       Completing 4% and 9% tax credit applications
•     Developing your office budgets (front office and back office)
•     Implementing back office systems
                                                                                                       Avoiding Project Landmines
    Doing Business (Public and Private Projects)
•     Understanding market terms                                                                       Building Relationships Within the Market
•     Understanding the five types of risks - performance, financial, political, spatial, market
•     Evaluating the deal
•     Building a pro-forma
•     Developing and submitting RFP’s
•     Understanding updates to agency policies/codes and staying ahead of the curb
•     Compliance requirements

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Timeline
• May 6, 2022 | Application Release
• May 18, 2022 | Virtual Information Session from 2 - 3 PM
• May 25, 2022 | Applications Due
• June 1, 2022 | Participants Selected
• June 14, 2022 | Second Cohort Training Cycle - Kickoff/Orientation
• Every Tuesday and Thursday 10 AM - 12 PM (excluding the week of July 4th) 6/14,
6/16, 6/21, 6/23, 6/28, 6/30, 7/12, 7/14, 7/19, 7/21, 7/26, 7/28
• Networking Event | Every other Wednesday (excluding the week of the 4th of July)
6/22, 7/13, 7/27
• Coaching | Self Schedule (4 Hrs)
• August 3, 2022 | Last Day - “Shark Tank” Investor Pitch and Conference

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Questions & Answers

                 Please use Q&A Zoom button to
                     submit your questions.

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Closing Reminders
Applications are being accepted through Wednesday May 25th

Cohort 2 accepted applicants will be announced Wednesday June 1st

Cohort Sessions (Tuesday and Thursday 10:00am -12:00pm)

In Person Networking Sessions 6/22, 7/13, 7/27 6:00pm -8:00pm

Questions can be sent to NYCDevelopersofColor@LiSC.org
or LISCDevelopersofColor@rfwilkinsconsultants.com

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