Mitigating Risk
Where the risk sits in a developer-backed bond
Single-site, developer-backed TIF bonds carry no municipal credit support. Repayment depends on the incremental property taxes generated by the specific development for which the bond was issued. Selling the bond transfers that exposure to Hageman Capital and converts it to capital at closing.
- Real estate underwriting that supports bond value
- Comprehensive underwriting and risk assessment
- Structures aligned to the specific incentive
- A commitment to developers and community development
Developer perspectives
Hageman Capital was an integral partner of Buckingham for our Carmel Midtown AT&T project. They actively engaged in the process and identified potential pitfalls. Their contribution extended to generating creative solutions within the team and legal framework. As we look to the future, Hageman Capital has earned a top position on our list.
Christopher W. Myrvold, CFO & Head of Real Estate, Buckingham
Working with Hageman Capital to finance TIF bonds was a great experience, they made the process simple and transparent. We appreciate their partnership and willingness to solve complicated issues fairly and quickly.
Fede Boscaini, Director of Development & Finance, Gershman Partners
Working with Hageman Capital on our Carmel, IN project was a great process. We were able to successfully structure a unique financing arrangement to monetize our real estate tax incentive bonds. Their team took a partnership approach and looked for a win-win solution for both sides. We look forward to our next deal together!
Matt Cremer, Managing Principal, Tegethoff Development
Bond Value
Feasibility and the capital stack.
A monetized TIF incentive closes the equity gap and changes the return profile before construction begins.