it would likely be an affiliate of the Leverage Lender. [t would be
the building owner.
o Master Tenant. This would be the City of Nashua, which would
serve a limited purpose solely to preserve the “public Purpose’ of
the bonding and, if necessary, allow “rebate” of Property taxes via
payment of administrative fees to QALICB.
o Sub-Tenant. This would be the operator of the facility. It would
Pay rents and fees to Master Tenant, which would pass them on
to QALICB. QALICB would then pay debt service and other costs
from this revenue stream.
® Procurement of legal and accounting services. Based on past experience,
the Consultant will provide the City with recommendations for retaining
NMTC counsel. The Consultant has worked with several lawyers whose
fees are reasonable and have strong working relationships with various
CDE's. it may not be necessary to retain accounting services, since: (a) the
Consultant will provide initial projections and modelling whereby input
from City Finance Department will be sufficient; and (b) the participating
CDE usually reserves the right to retain its own accounting firm, at the
expense of borrower.
® Assistance in closing transaction. The Consultant will work with legal
counsel to close the financing deal. Usually, weekly teleconferences,
involving all the parties, commence 6 — 8 weeks prior to closing.
Consultant will work to coordinate these calls and follow up on checklist
items. He will also review and comment on key documents in order to
identify problems and bring them to the attention of counsel. The goal
here is to control costs by focusing counsel time on drafting and review of
documents rather than doing follow-up work that can be done by
Consultant or others.
b. Staffing. Mr. Cannon will provide services far all phases of project. See EXHIBITS
A and B for Qualifications.
