The Low Income Housing Tax Credit, New Markets Tax Credit and Historic Rehabilitation Tax Credit have fueled the development of affordable housing and historic preservation properties and made investment capital and loans available to businesses in qualifying low income communities.
We have assisted private and non-profit developers in all aspects of development and financing of affordable housing projects, from applying for and obtaining low income housing tax credits from applicable governmental authorities to financing the development and operation of the completed projects through private and public lenders and institutional investors. Our clients have frequently benefited from combining the Low Income Housing Tax Credit with the Historic Rehabilitation Tax Credit.
We regularly represent affordable housing management companies and owners before state housing finance agencies in connection with ongoing operational requirements and audits imposed by the IRS. We are also experienced in negotiating the exit of investors and the refinancing of project indebtedness at the end of the 15-year Low Income Housing Tax Credit compliance period.
Our clients have benefited from the New Markets Tax Credit in obtaining loans used for commercial real estate rehabilitation and new commercial real estate construction in the low income communities they serve.
We regularly represent developers in the syndication of their development projects and investors in the evaluation of development projects. The services we provide include tax advice, tax opinions and documentation of financing and investment terms attendant to such projects.