Outcome :

Prior to hiring us, the bank had frozen all loan draws for the project. We reviewed the entire project, all draws to date, drawings, construction budgets and costs going forward to complete the project. We submitted a report with our recommendation to complete the on and off-site servicing and then sell the land, to try and recover as much of the bank’s capital as possible. We re-bid all on and off-site servicing and created an accurate construction cost breakdown. We project managed the construction and completed all the on and off-site construction, on time and on budget. We obtain all approvals from Clark County and recovered all the bank deposits from Clark County. The bank sold the land and greatly reduced its exposure.