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Historic Rotunda Building Deal Structure and Financial Planning Overview

Explore the details of the Banc of America Historic Ventures/Rotunda Partners HTC deal in 2007, including grant obligations, buyout funds, tax obligations, and communication strategies. Learn about the deal structure, milestones, and the transition of ownership over the years. Contact us for expert advice on financial planning for similar projects.

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Historic Rotunda Building Deal Structure and Financial Planning Overview

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  1. The Historic Rotunda Building

  2. Deal Structure • Grant Obligations • DDA

  3. Education- • Local Government Staff • Community • Development Team • Grantor Staff

  4. Financial Planning • Buy out funds as a reserve

  5. Buy Out- • Reassessment by Municipal or County Tax Assessor. • Transfer Tax • Tax Obligation of Former Investor or Partner • Communication

  6. Explanation of the Banc of America Historic Ventures/Rotunda Partners HTC deal 2/8/2007 Prior to Project Completion 1999 - 2001 Date Amount Stipulation Closing $1,000,000 Closing of escrow 4 months $2,000,000 25% verifiable project completion 7 months $2,000,000 50% verifiable project completion 10 months $2,000,000 75% verifiable project completion 14 months $2,000,000 Part III and Cert of Occupancy

  7. First five years after Project Completion 2001 - 2006 Project pays3% annual "preferred return" paid quarterly Project pays B of A's projected-related income taxes (paid annually) After five years 2006 Project sent executed letter demanding that B of A exercise its "put" option On the first day, B of A exited the Project for the negotiated $1.8M (20% of HTCs)

  8. California Capital Group Phil Tagami 300 Frank H. Ogawa Plaza, Suite 340 Oakland, CA 94612 510-268-8500 Mark A. Moss & Company Mark A. Moss 300 Frank H. Ogawa Plaza, Suite 30 Oakland, CA 94612 510-663-6677

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