LISC Endorsement - Federated Title Services
I~~~~~~~~~~~~~~~~~--~
~YorkCity
Helping neighbors
build communities
Michael Benzi, Esq.
Federated Title Services, LLC
501 ih Avenue, 7th Floor
New York, New York 10018
Re: Thank you
DearM~~
I am writing this letter to thank you for the excellent service that you have provided us for fifteen (15)
years. With your invaluable assistance, we have successfully closed numerous low-income housing tax
credit ("LIHTC'') deals.
Through your services as LISC's attorney and through your title company Federated Title Services, LLC,
you have developed a unique and well-rounded perspective on federal low-income housing tax credit
("LIHTC") deals.
Based on your thorough knowledge of program requirements and LISC business
protocols, you astutely anticipate the needs of the underwriters, project sponsors, governmental agencies
and institutional lenders involved in our deals, and we have been able to close our LIHTC deals
efficiently.
You have on numerous occasions provided us with valuable information unsolicited and well in advance
of closing that has positioned us to get to get to closing in a timely fashion. Through Federated Title
Services, LLC, LISe's underwriters have been able to obtain title estimates (including any necessary
endorsements) and title searches to highlight unanticipated costs and closing concerns (e.g., outstanding
real estate taxes, water charges, mechanics liens) well in advance of closing. Therefore, on many
occasions, LISC underwriters have been able to alert our partners to potential title problems that require
revisions to the project proforma. Based on the information and advice that you provided, LISC has been
able to timely analyze project proformas and successfully negotiate resolutions.
We also greatly appreciate the fact that even outside of the closing context, Federated Title Services
provides excellent customer service. You have eagerly responded to our general title questions and to
requests for information about government programs. We also greatly appreciate your willingness to
provide us with title/tax abatement information about our projects post-closing and to expeditiously
perform judgment lien searches and other title searches for LISC outside of the closing context.
You have been a pleasure to work with, and we look forward to working with you in the future.
Sincerely,
~()-dManaging Directf
NYC LISC
LOCAL INITIATIVES
SUPPORT CORPORATION
501 Seventh Avenue _ New York, NY 10018
Phone 212-455-9800
_ Fax 212-687-1396
_ WWW.LISC.ORG/NYC
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