Financing

J. Frank Surface
Chairman & CEO

Vesta can provide all of the funding for the facilities or infrastructure, thus eliminating the need of the developer or association to use its own resources. The developer provides a build-out schedule and a commitment to fund the per unit facility fee if the actual closed units are fewer than expected. All operating budgets are approved by the developer, and a return to the developer of the operating costs it has funded can be structured into the transaction.

Under the financing arrangement, either a separate single purpose entity or the members’ association can own the facilities. In either event, Vesta can provide turn-key management of the facilities and the homeowners association so that the role of the developer with the residents is diminished. Since the developer’s presence is temporary, the great benefit of Vesta realized when the development is completed and control is transitioned to the community.