Coming Up Soon: Preparing your Nonprofit for a Facility Project Webinar
Save the Date: Tuesday, October 18th, at 12 pm CT
Purchasing or renovating a facility can be overwhelming, especially for nonprofits. Join us in this webinar series and learn how to identify funding for your project and the phases of a facility project with real customer stories.
Here’s what you’ll learn:
- How to identify capital funding for your project, including information on Chicago Recovery Grant, Neighborhood Opportunity Funds, New Markets Tax Credits, Opportunity Zones, TIF, and more
- Phases of a facility project, and how long they might take
- Stories of how other nonprofits supported by IFF have completed their projects
Webinar series dates:
- Tuesday, October 18th, at 12 pm CT
- Tuesday, November 15th, at 12 pm CT
- Tuesday, January 17th, at 12 pm CT
About the Speaker:
Kate Ansorge is the Managing Director of Chicago Real Estate Services at IFF (CDFI). She has a 20-year nonprofit and community development facility planning and financing background. Kate leads IFF’s Chicago Real Estate Solutions team of 10 staff working with nonprofits on facility projects. Connect with Kate on LinkedIn.
You will leave this workshop with the right tools to tackle your project with confidence!
Polk Bros. Foundation and IFF’s Real Estate Consulting Partnership
Real estate projects are a major undertaking and a significant milestone for a nonprofit, yet often outside the scope of expertise of senior management or boards of directors. IFF’s team of real estate professionals guide and assist nonprofits to achieve their real estate goals and avoid costly pitfalls, while allowing organizations to remain focused on their mission.
Polk Bros. Foundation has supported IFF’s Real Estate Consulting program for many years. This year, the Foundation has provided IFF a special grant to subsidize our fees for Polk Bros. Foundation grantees that are planning for new or renovated space. Thanks to the grant, for a limited time, IFF is able to offer some of our affordable consulting services at an even lower cost.
This generous grant subsidizes up to 65 percent of IFF’s fees for the following services:
To help an organization determine whether a real estate development project is financially and operationally feasible, IFF staff will:
- Work with key senior management and board members to understand the organization’s current space needs and long-term goals
- Evaluate a current facility or potential new facility to understand facility needs and challenges
- Prepare a financial assessment to determine whether a project is viable
- Present to agency leadership a range of facility development options (lease vs. buy, renovate vs. build)
Site Search, Evaluation, and Due Diligence Services
To ensure an organization ultimately secures the right facility at the right price under the best possible terms, IFF staff will:
- Identify site search parameters including size, cost, target location(s), and other requirements based on current needs and long-term goals
- Identify and evaluate sites for programmatic, structural, and cost fit
- Rank each site across identified parameters and recommend best options
- Manage all due diligence related to site control including: conduct final inspection, prepare preliminary architectural drawings, and negotiate lease or purchase contract
Predevelopment and Construction Oversight
To help nonprofits manage the predevelopment and construction process:
- Serve as owner’s representative by developing and managing project schedule and budget as project moves from design through construction to closeout
- Oversee design and permit phases including selection of architects and contractors to ensure program needs of agency are met
- Monitor construction and close-out phases including construction pay applications and reviews; assist in value engineering and coordination with contractors and vendors; and ensure final occupancy
If your organization is planning a facility project, IFF would enjoy the opportunity to learn more about it and provide a proposal for services to help ensure your success. Email or call us at 866 629 0060 about your next project.