Getting Stalled Projects Moving Forward

Kosmont Companies is ready and able to assist you and your clients in jump starting stalled retail development projects to get them moving forward. We are focused on leveraging local government financing structures to provide the assistance needed to get developer projects back on track. Kosmont is also advising a number of public agencies on obtaining federal stimulus money which can be used to assist stuck private sector projects. In many cases the public and private sectors are very motivated to get these projects back on track.

Most importantly, we can analyze retail and mixed use projects to determine the various financing options that may be utilized to bring it to completion. Our extensive experience executing public-private projects gives us a unique understanding of multiple government funding sources currently and soon to be available. In today's challenging economic environment which has stymied the private markets, these funding sources can be critical to a project's success. We provide both public and private sector clients with deal structuring advice, development services, project and market analysis and a wide variety of strategic and policy lever decision making capabilities.

Kosmont Companies is a full-service real estate and development finance advisory firm that has been in the business over 20 years providing on-call and hands on development counsel to cities, redevelopment agencies and private sector retail developers and redevelopers throughout California. Kosmont staff is highly experienced, practitioner based, and has participated in and/or advised on virtually every type of public-private development transaction that has occurred in California.

Sampling of Current Projects
that Kosmont Companies is Advising

A major lifestyle and regional shopping center development planned for an urban infill location that is under-retailed. The project will entail 500,000 square feet of developed space including both public and private uses. Kosmont is assisting in obtaining both tax exempt and taxable bonds for the financing of the development.

A neighborhood shopping center involving environmental and assemblage issues. Kosmont is helping to secure a public private transaction with government assistance.

We offer a full range of Real Estate and Public-Private Transaction Advisory Services to help Public Agencies and Private Sector Clients including economic development, development feasibility & implementation, market & financial analysis, tax & fiscal benefits, redevelopment, and entitlements to list a few.

Please contact Larry Kosmont for more information regarding Kosmont Companies Advisory Services.

Resources Kosmont Companies is
Expert in Obtaining for Our Clients

• Community Development, Economic Development and Housing - $13.55 billion
• Transit - $55.5 billion
• Stimulus Money for Transit in California:
• $1.1 billion in Transit Formula Funding for investments in mass transit
• Environment - $700 million
• Energy Efficiency - $15.2 billion
• New Bond Measures
• Build America Bonds: New Taxable Bond Option
• Taxable Tax Credit bonds under which issuers can receive 35% of interest paid from the federal government OR bondholders can receive a tax credit equal to 35% of the interest on the bonds
• Recovery Zone Facility Bonds:
• $15 Billion to be allocated based on a jurisdiction's unemployment rate
• Recovery Zone Development Bonds:
• $10 Billion in taxable bonds to promote economic development in designated areas

• PROGRAM SUMMARY
  Funding for Commercial Mortgage Backed Securities (CMBS)
• Federal Reserve recently expanded TALF program to include CMBS as eligible collateral for TALF loan to help prevent defaults on economically viable commercial properties, increase capacity of current holders of maturing mortgages to make additional loans, and if needed, facilitate the sale of distressed properties
• Starting June 2009, three-year or five-year loans will be available under the program to borrowers for purchasing Commercial Mortgage Backed Securities (CMBS)
• Federal Reserve authorized $200 billion for the program which was recently extended to $1Trillion in connection with the Financial Stability Plan
• QUALIFYING ASSETS
• All mortgage loans underlying a CMBS must have been originated on or after July 1, 2008 and secured by income-generating commercial properties located in the US or its territories.

• Proposition 1B: Transportation Improvement Funding - $19.925 billion
• Proposition 1C: Transit Oriented Development and Infill Infrastructure Grants - $2.85 billion
• Propositions 84 and 1E: Water Management and Storm Water Flood Management programs - $4.09 billion (Levee, Flood Control, etc.)
• AB 31, and SB 732 (Proposition 84): Park Development Programs $ 690 million

DISCLAIMER: Kosmont & Associates, Inc., doing business as Kosmont Companies has prepared the above based on a review of available documents and information in the public realm. The information provided is not a substitute for professional advice in the relevant area being addressed. Kosmont Companies does not guarantee the reliability of any information provided herein. Presentation of this information is not intended to create, and receipt of this information does not constitute a professional client relationship.