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Getting a Deal Done - Start to Finish
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 View Printable Version
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| ACTIVITY |
TIME FRAME |
| Project Identified |
Varies |
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| Application
Submitted to IHDA |
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Day 1 |
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| Initial
Review and Threshold/Completeness Check |
Day 20 |
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| Project
Underwriting and Feasibility Review |
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Day 20 - 60 |
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| Peer
Review |
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Varies |
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| Loan
Committee Review |
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Varies |
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| Advisory Commission (If Trust Funds are
used) |
Day 70 |
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| Public
Notification/Comment Period |
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Day 70 - 100 |
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| Environmental Review (If Federal Funds are
used add 30 days) |
Day 70 - 100 |
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| IHDA
Board Presentation |
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1st available meeting after notification period. Not later than seven months after original
application submittal. |
| Commitment
Letter Issued |
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Varies by project usually with in 30 days of Board approval. |
| Loan
Closing |
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Varies, not earlier than 45 days after approval of commitment
letter. Not later than 7 months after
Board approval. |
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| Note: The timing
of each step may vary significantly depending on the specifics of the
transaction. |
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