Consulting Experience

Preservation Services for Owners and Sellers
Affordable housing consultants since 1995

Since 1997, TSG has become nationally recognized as a leader in Section 8 refinancing and renewals, rent comparability studies, and mark-to-market projects by positioning itself at the forefront of understanding and responding to HUD's mark-to-market program and changes to the Section 8 renewal process. TSG consulted to HUD, helping to develop policy in setting rents for Section 8 renewals.

Recent changes in the assisted housing industry may impact your future. The Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA) introduced new rules for owners of assisted multifamily housing projects with expiring Section 8 contracts.

• If your project generates cash flow, you could lose that income. (This applies to all expiring contracts - Rural Development loans, State- and FHA-insured, and non-insured loans).
• If you have an FHA- insured loan and rents over market, you may face debt restructure with tax consequences, reduced cash flow, and you may be required to invest in improvements.
• If you are eligible, you may also be able to raise your Section 8 rents.

Some of The Signal Group's accomplishments include:

• Working for HUD to draft Notice H 00-12, "Instructions to prepare, submit and review rent comparability studies" and prepared over two hundred rent studies in 38 states;
• Preparation of over 250 Rent Comparability Studies in 35 states; 
• De-coupling a 200 unit 236 project in Portland, Maine and refinancing the 223(a)(7) program, accessing $1,000,000 in repair funding and obtaining an 18% Section 8 rent increase with HUD Headquarters approval;
• Negotiations with OHMAR and PAE's on behalf of dozens of owners, successfully appealing and overturning decisions;
• Advising owners about properties options before facing mark-to-market, allowing for restructure to proceed with low income housing tax credits and no owner contribution;
• Receiving approval as a MAP appraiser for FHA loan applications;
• Consulting to the National Leased Housing Authority to conduct a national survey to be used in making policy recommendations to HUD;
• Being selected by State Housing Finance Agency's in New Hampshire, Rhode Island, Maine, North Carolina and Illinois to advise on the set-up of ACC contract administration tasks, underwrite mark-to-market projects as teaming partner, provide work-out consulting, analysis, and market studies;
• Submitting over 30 applications for tax credits and/or tax-exempt bond allocation in eight states. (10 of the transactions have closed and 9 more are in the pipeline);
• Negotiating and structuring the transfer to a national non-profit of a two-phased 376 unit project in Columbus, Ohio that required major renovation and was stalled in the restructure process; and
• Is currently working to assist owners of 202 projects access new capital, prepay existing loans and improve properties. Have you been collecting Section 8 rents that are below market? Your project may be eligible to mark up to market!

The Signal Group will develop a plan that works best for you and your Section 8 project. MAHRA is complicated. TSG's President, Laura Burns, has drafted several articles about MAHRA. Click here to learn more: Articles Published.