Imagine a school-community that successfully embodies a culture that is at one with our highest moral aspirations, and that throughout the life of this school -- in the teachers, in the curriculum, in the hallways, in the lunchroom, on the bulletin boards, etc. -- these moral aspirations live as social reality.
HVCRE is defined to include credit facility that, prior to conversion to permanent financing, finances or has financed the acquisition, development, or construction (ADC) of real property, unless the facility finances:
No, the definition of HVCRE requires that capital be contributed by the borrower to the project. in the form of cash or unencumbered readily marketable assets. To the extent that an asset is. merely pledged as collateral, it would not be considered to have been contributed to the project.