Starta Development Serves LIHTC Developers with Automated Forecasting Tools

Nov. 8, 2008 - PRLog -- Starta Development announced that its service now enables developers to produce more apartments with greater profitability. Starta incorporates a unique ability to capture thousands of data points from the developer’s forecasting pro-formas. Not only does Starta track a legacy of evolving forecasts, but the system seamlessly captures critical data points from the developer’s Excel spreadsheet and aggregates the information into extremely insightful reports. The reports can then be automatically delivered to the desktop of key internal and external decision makers.

Gordon L. Blackwell, Starta’s founder, explains that “this feature can save literally dozens of hours a week and produces insights that could never be created using traditional, manual efforts. Moreover, the entire process completes in less than a minute just by uploading an Excel file with revised data.”

It is Blackwell’s hope that features like this will enable developers to produce more affordable homes annually with less cost for the developer, the occupant and the tax payer. “Our nation’s economy is entering an unprecedented period. Nobody can predict the end results, but the credit freeze likely means that an increasing number of families will require low-cost housing. We want Starta to be ahead of that curve. If our service can allow the development of just one additional apartment complex annually, that means additional homes for 40 to 200 families every year. It is also very helpful for our economy by providing the developer with additional income to pay the salaries of its employees. Now that is significant!”

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Starta provides standard and custom technology services for all members of the affordable housing industry. The Starta Enterprise System was initially released in February 2001 as a turnkey solution for managing development portfolios, from the initial concept through development and asset management. The service now serves all members of the industry, including attorneys, tax credit (LIHTC) syndicators and lending institutions.