Development Advisory Services for Affordable Housing
As President of BAE, Janet worked with METRO through an on-call contract to provide joint development and real estate development advisory services including review of developer submittals and negotiation support for long-term ground leases on multiple projects.
Janet’s work included negotiation support for three affordable housing projects that will meet the METRO Board’s recently-adopted policy that 1/3rd of METRO’s joint development will be affordable housing. Her support addressed issues unique to joint development by transit agencies for these groundbreaking projects, including structuring possible ground lease payment discounts and/or pre-payment terms needed by project sponsors in cases of affordable housing (which have not yet been approved by FTA at the federal level). Her work also included review of development costs, revisions to update Joint Development Agreement/Ground Lease Agreement language, evaluation of the availability of other subsidy sources, and financial analysis of projects.