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Capital Structure

Investors & Financing

The Uplifters program is expected to be financed through approximately $200 million of tax-exempt bonds. The financing structure is designed to support the Foundation's charitable mission while creating a disciplined path to repayment.

Important Notice: This website is for informational purposes only and does not constitute an offer to sell or solicitation to buy securities. Any securities offering will be made only through formal offering documents. Prospective investors should not rely on the information contained on this website in making investment decisions.
Financing Overview

Capital Structure

The program is financed through approximately $200 million of tax-exempt bonds. There is no developer equity, no promote structure, and no profit extraction prior to repayment.

All capital is deployed into land, construction, and carrying costs. This eliminates traditional value leakage and allows lower pricing, greater attainability, and full alignment with program objectives.

  • No developer equity or ownership
  • No promote, carried interest, or preferred return
  • No management fees extracted prior to bond repayment
  • All program surplus directed to charitable purposes
Total Program Size

~$200 Million

Tax-exempt bond financing. Structured to comply with IRS and California nonprofit requirements.

Structure

501(c)(3) Bonds

Issued under the authority of a qualified 501(c)(3) organization with a defined charitable purpose.

Deployment

Use of Proceeds

Category Description
Land AcquisitionPurchase of fire-damaged residential parcels within program streets
ConstructionHard construction costs under GMP contracts with multiple general contractors
Soft CostsArchitecture, engineering, permits, entitlements, and design
Carrying CostsInterest, insurance, taxes, and holding costs during construction and lease phases
Program AdministrationOwner's Representative, property management, legal, accounting, and compliance
Purchase Assistance ReserveClosing credits provided to eligible buyers at disposition
Phased Reserve (~10%)Deferred deployment pending validation of early program performance
Security

Security & Repayment

Primary Security

Real Estate Assets

Bonds are secured by the real property assets of the program — land and completed homes — held within the program entity.

Cash Flow Control

Trustee-Controlled

All program cash flows — acquisition proceeds, construction draws, rental income, and sale proceeds — are controlled through a third-party trustee.

Repayment Source

Asset Conversion

Primary repayment source is the sale of completed homes. The program is designed as a self-liquidating vehicle, not a yield-based instrument.

Proceeds Waterfall

Repayment Priority

1
Interest Payments
Current interest on outstanding bonds paid from operating cash flow and sale proceeds
2
Bond Principal Repayment
Full repayment of outstanding principal from home sale proceeds
3
Program Obligations
Remaining program costs, fees, and closing obligations
4
Charitable Residual
Remaining proceeds allocated to community infrastructure, public facilities, and neighborhood reinvestment
Risk Management

Risk Mitigation

Construction Risk

  • GMP contracts cap per-unit construction cost
  • Multiple contractors reduce single-operator dependency
  • Independent Owner's Representative oversees execution
  • Phased deployment validates cost assumptions early

Market Risk

  • Program does not rely on market appreciation
  • Below-market pricing reduces absorption risk
  • Strong underlying demand from displaced residents
  • ~10% reserve deferred until early validation
Forward-Looking Statements: Certain statements on this page may be forward-looking in nature and involve risks and uncertainties. Actual results may differ materially. This information is provided for general informational purposes only and should not be relied upon as investment advice. Any investment decision should be based solely on formal offering documents reviewed with independent financial and legal advisors.
Inquiries

Investor Inquiries

For information regarding the bond program, capital structure, or formal offering documents, please contact:

partnerships@upliftersfoundation.org

All formal inquiries will be acknowledged within 5 business days.