Simon Verghese

Incentives and Underwriting Analyst @Michigan Economic Development Corporation

Lansing, MI, US

Responsibilities• Manages the implementation of the State of Michigan real estate development incentive programs to revitalize communities across the state.• Develops and presents memos, resolutions, and presentations to present to the Michigan Strategic Fund (MSF) Board of Directors and MSF Delegate.• Performs needs and financial analysis for each project to ensure the effective and efficient use of state grants to create impact in local communities through real estate development.• Evaluates the financial viability projects requesting tax increment financing and grant funding by analyzing real estate development financial revenue projections, proformas, sources and uses, cashflow projections, loan term sheets and commitment letters, construction estimates and contracts, investor letters, and owner equity verification forms to ensure projects have the resources to be completed.• Coordinates with real estate development teams to ensure the accuracy of data and compliance with statutory regulations by gathering supporting documentation for incentive requests.• Coordinates with legal staff and development teams to review, address, and process amendment requests for incentive approvals and changes to previously approved projects to ensure compliance with incentive agreements and policies.Achievements• Led projects utilizing Michigan Community Revitalization Program grants and loans, Revitalization and Placemaking program grants, tax increment financing, tax abatements, and tax credits across multiple local and state departments from initial financial review to final approvals.• Secured project approval of over $250 million in economic development incentives to create over 650 apartments and square feet of commercial space.• Administered over $800 million of economic development projects across the state of Michigan through the MSF Board approval process.