PAF Accelerator Fund: Fund Application (Nov, 2022)

  • Eligibility Confirmation

    PAF Accelerator Fund: Fund Application

  • Let’s first cover the basic eligibility requirements.

    If you can answer YES to the six (6) questions below, you are ready for the next steps in the loan process!

    If you are unsure about any of the following eligibility requirements, we are here to help you simplify what often seems like a complex process! Please contact us with your questions.

    All labels marked * Required are required.

  • 1. Is your project in the City of Philadelphia?*
  • 2. Does the project plan include at least one residential unit?*
  • 3. Will at least 51% of housing units in the project be sold (or rented) at costs affordable to households at or below 120% of Area Median Income (AMI) for at least 15 years following project completion?*
  • 4. Have you been free from bankruptcy for the last 5 years?*
  • 5. Are you free from any outstanding tax liens or code violations in the City of Philadelphia?*
  • If no, will the current liens or violations be remediated by the subject financing or is a formal payment agreement in place?*
  • 6. Is the borrower or owner free from default on any outstanding debt?*
  • If no, will the default be remediated by the subject financing?*

  • Thank you for your interest in a loan with us, unfortunately your project does not qualify at this time.

    Please reach out to us with questions at inquiries@phlfund.com

  • Proposed Borrower

    PAF Accelerator Fund: Fund Application
  • How soon are you looking to close this loan?
  • Please check all that apply:
  • Format: (000) 000-0000.

  • Financing Request

    PAF Accelerator Fund: Fund Application
  • Number of Properties
  • Financing Type
  • Requested Term Length:

  • Project Description

    PAF Accelerator Fund: Fund Application
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  • Project Type
  • Target Market

  • Collateral and Guarantors

    PAF Accelerator Fund: Fund Application

  • Guarantor(s):

  • Documents for Upload

    PAF Accelerator Fund: Fund Application

  • Required for All Applicants – Upload the Following Documents Below:

    • Project Budget, including acquisition, architectural/engineering, construction and another anticipated expenses
    • Operating Pro forma (Rental) / Sell-out Forecast (For-Sale Project)
    • Bios or Resumes of Key Staff/Principals
    • List of Real Estate Projects Completed, Planned, or Under Development
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  • If Applicable / If Available

    • Three Years of Historical Operating Statements (If Existing Property)
    • Existing Leases
    • Evidence of Site Control (Deed, Contract of Sale, Option to Purchase, Lease, etc.)
    • Org Chart for borrower
    • Appraisal
    • Environmental Survey
    • Physical Needs Assessment
    • Commitments, term sheets, or letters of interest for other financing for the project
    • Last three years of personal tax returns for project principals (any person who will have 20% or more ownership of the project)
    • Formation and governing documents (operating agreement, certificate of incorporation, by-laws, etc. as appropriate)
    • Diversity and inclusion business plan*
    • Community-based marketing strategy**
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  • * Business plan outlining the sponsor’s commitment to diversity and inclusion in construction, permanent jobs, contracting, and labor workforce. This should include a description of contracting opportunities that will be made available to MBE/WBE/DBEs, a description of how the project will solicit certified MBE/WBE/DBEs to apply for contracting opportunities, and any other relevant information.

    ** Marketing plan demonstrating a community-based marketing strategy with local outreach and opportunity for access to affordable units in the project. This should include completed or planned meetings with at least 5 relevant community groups to solicit input on the project, as well as a plan to reach income-qualified tenants or homebuyers for the project once completed.

  • Representation of Accuracy

    PAF Accelerator Fund: Fund Application

  • The undersigned applicant declares that the information submitted within this application and supporting this application is true and accurate, and no material information has been knowingly withheld.

  • Should be Empty: