Wachovia Community Development Finance

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WachoviaCommunity Development Finance
Tapping the Money-Strategies for Growing
Businesses FRA Conference October 23, 2008 T
ampa, FL

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• The Wachovia Community Development Finance Group
  (CDF) is a specialized real estate lending unit
  within Wachovias Community Relations
  Department.
• CDFs mission is to provide creative, innovative,
  and flexible financial solutions to organizations
  within low-to-moderate income communities served
  by Wachovia.
• Our approach is unique, personal and informed
  because our specially trained Community
  Development Relationship Managers and Risk
  Officers reside and work in the communities they
  serve.

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• We are a specialized industry segment focusing
  on
  
• Affordable Housing
• Neighborhood Revitalization
• Economic Development
• We leverage knowledge of government programs to
  assemble financing packages for our clients.
  
• We are adept at analyzing and structuring
  transactions with non-profit and for profit
  entities.
  
• We manage our business to meet a double bottom
  line
  
• Contribute to meeting the banks community
  commitment and
  
• Generate sufficient revenue to provide an
  adequate return to shareholders.

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• PROVEN ABILITY TO COORDINATE FINANCING
• Pre-development and acquisition funding
• Short-term/construction loans
• Permanent financing
• Equity
• Soft Capital
• BROAD ARRAY OF BANKING SERVICES
• Financing
• Cash management and depository services
• Interest rate management
• Investment management
• Leasing
• Wealth management

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• LIHTC EXPERTISE
• Construction financing/LCs
• Partnership with DUS lenders and other Permanent
  financing partners
  
• Relationships with Equity Investors
• NMTC EXPERTISE
• Invested over 533MM (71 projects) in NMTC
  transactions.
  
• 42.7MM in Florida.
• Regarded as a industry leader in structuring and
  closing deals
  
• GOVERNMENT PROGRAM EXPERTISE
• AHP, CDBG, HOPE VI, BEA
• DEDICATED RESOURCES
• A dedicated banking group solely focused on
  serving the low-to-moderate income community,
  with the full support of senior management
  

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• Real Estate
• Commercial Activity
• Financial Intermediaries
• REAL ESTATE
• Housing
• Affordable Rental (LIHTC Non-LIHTC)
• Single Family Condominium Homes (For-Sale)
• Commercial Real Estate
• Retail (New Market Tax Credit Traditional)
• Office Industrial (New Market Tax Credit
  Traditional)
  
• Mixed Use (Office/Retail Multi-Family/Retail)
• Owner-Occupied

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• COMMERCIAL (CASH FLOW) ACTIVITY
• Non-Profit Service Agencies
• Day Care Centers
• Community Health Care Facilities
• Small businesses in low-to-moderate income
  geographies
  
• FINANCIAL INTERMEDIARIES
• Community Development Financial Institutions
  (CDFIs)
  
• Credit Unions, Minority Owned Banks, Thrifts
• Community Development Venture Capital Funds and
  SBICs

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• Commercial entities that provide products and
  services to benefit low-to-moderate income
  communities. (Housing, Community Services, etc.)
  
• Organizations and projects that source funding or
  benefit from Federal, State and Local government
  programs that target economic and community
  development.
• Entities and projects that have complicated and
  multi-layered capital structures, often relying
  on contributions and grants for funding.
  
• Organizations that engage in activity that often
  qualifies for CRA credit.
  

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• 5 year track record of successful operations,
  including experience in sourcing government
  programs targeted at community and economic
  development.
• Capacity to close multiple transactions per year,
  targeted minimal deal size of 2-3MM.
  
• Adequate net worth relative to on off balance
  sheet liabilities.
  
• Opportunity to cross sell multiple bank products

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• CRE contact local CDF sales team manager (Sales
  team manager STM, will always be first point of
  contact).
  
• STM will need a brief history of the
  developer/borrowing entity (i.e. what is the
  borrowers history in terms of project
  development?)
• STM will need a description of proposed project
• STM will need project financials as well as
  guarantor financials.

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• Gateway Shopping Center
• 593,000 sf grocery anchored shopping center.
• Jacksonville, FL
• 11.75 Million
• NMTC Renov/Mini-Perm

Riverbend Office Building B 66,917 sf Class
A Office Ft. Lauderdale, FL 15.5 Million
NMTC Construction/Mini-Perm

Central Plaza 272,894 sf grocery anchored cente
r St. Petersburg, FL 3.9 Million NMTC Renov/
Mini-Perm

NEO Office Bldg. 7,600 sf Office Miami, FL 1
.5 Million
NMTC Renov/Mini-Perm
North Dade CDC 57,330 sf Daycare Ctr. Opa Lock
a, FL
3.0 Million NMTC Construction/Mini-Perm
Regency Square 121,413 sf Retail Center New Po
rt Richey, FL 4.6 Million NMTC Renov/Mini-Per
m
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