Did you know that “ammo” is slang for “amortization”? No matter how educated and experienced people are, they must constantly be on the lookout for new jargon and acronyms that appear with alarming frequency in every field.
The Urban Land Institute (ULI) published a helpful list defining real estate jargon. The helpful article by John McNellis in Urban Land magazine even breaks down the categories of jargon into Economic Terms; Architectural and Construction Terms; Surveys, Site Plans, Leasing Plans, Plot Plans Terms; Lease Terms; Loan Terms; and Miscellaneous Terms.
At RSG, we deal a lot in jargon and acronyms. Real estate development uses a lot of jargon. Redevelopment dissolution is another great example of acronym usage, involving ROPS (Recognized Obligation Payment Schedules), LRPMP (Long Range Property Management Plan), SERAF (Supplemental Educational Revenue Augmentation Fund) repayment and many more.
We pride ourselves, however, on going well beyond just defining the jargon and explaining the acronyms. That’s just the beginning of our professional services. We help cities to review a developer’s NOI (net operating income) to check whether or not the requested subsidy is justifiable. We help successor agencies to prepare their ROPS to maximize repayment of enforceable obligations and adjust for cash flow imbalance.
Contact us to see how we can help you to apply the jargon and acronyms to benefit your city’s financial well-being, and we’ll TTYL.
Written by Dima Galkin, Senior Analyst at RSG