Criterium Engineers performs Project Capital Needs Assessments, Environmental Site Assessments, and Energy Audits for various government programs as well as Fannie Mae and Freddie Mac. Among these are:
Rental Assistance Demonstration (RAD)
The RAD program developed by HUD is designed to provide private investment for public housing to help fund the more than $26 Billion in deferred maintenance that has been identified. These funds include direct loans as well as funds from the sale of tax credits (LIHTC). HUD intends to approve funding for 60,000 units in the first round of this demonstration. To apply, Public Housing Authorities must identify a team that may include lenders, syndicators, developers, and importantly, providers of PCNAs. Criterium Engineers is one of the first engineering firms in the country to gear up for this service and offers several key advantages:
- Experience with HUD forms and underwriting models
- Multi-disciplined teams in house that can also provide ESAs and Energy Audits
- Experience in the private sector as well and the ability to provide forensic services nationwide
- Flexible resources to be able to respond within allotted timeframes.
Multifamily Accelerated Processing (MAP)
Criterium Engineers PCNA and ESA reports have been accepted by HUD in support of 223(f) and 223(a)(7) loan programs. Our staff has participated in MAP training at several locations and is ready to assist on single or multi-property assignments. PCNA reports include critical, non-critical immediate and capital reserve estimates, Section 504, ADA and UFAS accessibility reviews. Environmental reports include assessments of vapor intrusion and noise pollution. In addition, we can coordinate testing for asbestos, lead in paint and other hazards.
Mark to Market (M2M)
In 2011, Congress extended the Mark to Market program to ensure that an adequate supply of affordable housing remained in the country. The M2M program uses an underwriting template first developed in HUD’s Green Retrofit program and often requires an energy audit and integrated pest management inspection. Criterium Engineers is thoroughly experienced with this underwriting tool as well as the needs of the M2M program PCNA requirements.
Green Retrofit Program (GRP)
The original Green Retrofit Program was developed by HUD using stimulus money to improve the efficiency and sustainability of affordable housing. Criterium Engineers performed over 50 (of over 200) of these analyses. Fannie Mae has now implemented a similar program and Criterium Engineers is available to support loan applications for this program as well.