Housing Finance / Administration of State and Federal Funds

Overview

Our attorneys have negotiated and prepared documentation for dozens of affordable housing projects that use multiple sources of financing, including tax-exempt bonds, low-income housing tax credits, redevelopment gap financing, State IIG, TOD, and MHP funds and federal funds provided through Section 8, Section 202, and the HOME, CDBG, and NSP programs.

We draft and negotiate loan agreements, promissory notes (including deferred payment and residual receipts notes), and all related loan documents.  In addition, we negotiate subordination and intercreditor agreements with other public and private lenders to ensure that our clients’ interests are protected.  We provide advice regarding the interpretation of state and federal regulations, assist in preparing applications for funding, and advise regarding the implementation of state and federal requirements on such matters as prevailing wage, Davis-Bacon, Section 3, and other issues.

Several jurisdictions have engaged us to develop first-time homebuyer, commercial and residential rehabilitation, and façade improvement loan programs, and we provide on-going assistance in connection with the implementation of such programs.