Fiscal Affairs

Fiscal Affairs Division

Finance

Due Diligence Guidelines for Ventures

NOTE: These Due Diligence Guidelines are provided as general guidance only.

Each proposed privatized transaction is a unique opportunity. There may be a degree of similarity with other privatized transactions – but each opportunity is unique.

The information provided will vary by transaction. Do not assume that the information provided for a similar transaction will be sufficient for the currently contemplated transaction.

It is highly suggested that you meet with the System Facilities Office as soon as you initially contemplate a privatization transaction.

Application
This guideline is applicable for proposed transactions that utilize private bond proceeds to fund a portion or all of the development cost. It does not include private money as a gift. Transactions include development on 必博体育_2024年欧洲杯下注 of Regents property, whether or not the 必博体育_2024年欧洲杯下注 of Regents rents the improvements, and development not on 必博体育_2024年欧洲杯下注 of Regents property when the 必博体育_2024年欧洲杯下注 of Regents will rent the improvements.

Pertinent 必博体育_2024年欧洲杯下注 Policy
See due diligence for appropriate portion of transaction.

Pertinent Agreements: Ground Lease

Submittal Guidelines

Prior to 必博体育_2024年欧洲杯下注 Information Item

A. Team member list (firm name, principals, officers, main participants), including counsel (update as necessary through-out transaction processing)
B. Entity that will be Lessee and / or Landlord

  1. Entity name
  2. Type of legal entity
  3. Relationship(s) of entity to the University System of Georgia*
  4. 必博体育_2024年欧洲杯下注 members, trustees, etc, including relation, if any, with the University System of Georgia*
  5. Officers, including relation, if any, with the University System of Georgia*
  6. Employees who are also employed by the University System of Georgia*
  7. List of all existing agreements with the University System of Georgia*
  8. List of all assets, including the value of each asset.

* The University System of Georgia is to include the 必博体育_2024年欧洲杯下注 of Regents, any University System of Georgia institution, any cooperative organization of the 必博体育_2024年欧洲杯下注 of Regents and / or any cooperative organization of any University System of Georgia institution.

C. Program schedule
D. Financing schedule
E. Draft Pro-formas

  1. Development Budget
  2. Construction Budget
  3. Institution Pro-forma
  4. Foundation Pro-forma

F. Conformance with Master Plan
G. Conformance with Institutional mission
H .For Housing – Housing Plan including marketing study

Prior to 必博体育_2024年欧洲杯下注 approval

A. 100% Design Documents
B. Complete due diligence (as applicable) for:

C. Recordable property survey
D. Environmental Assessment
E. Title examination

  1. Title certificate
  2. If 必博体育_2024年欧洲杯下注 of Regents property
  • Date(s) real property acquired. If within past 25 years - What is the cost of acquisition and the source(s) of funding.
  • Date(s) facilities constructed. If within past 25 years - What is the total cost of development and the source(s) of funding.
  • Date(s) of any facilities renovations, additions, etc - If within the past 25 years - What is the total cost and the source(s) of funding.

F. Updated program schedule G. Updated financing schedule H. Updated pro-formas (final except for pricing)

Prior to executing ground lease agreement

Note: Minimum of three weeks required after finalization of ground lease to obtain execution.

A. Preliminary Official Statement
B. Updated pro-formas
C. Trust Agreement (if not BOR property)

Prior to executing rental agreement

A. Final pro-formas based on pricing

After Bond Sale

A. Official Statement

After construction completion

A. Revised survey and amendment to ground lease
B. Certificate of Occupancy

Annually

A. Updated pro-formas

  1. Institution pro-forma
  2. Variance from final pro-forma
  3. Variance from prior pro-forma
  4. Foundation pro-forma
  5. Variance from final pro-forma
  6. Variance from prior pro-form