The need for affordable housing is constant, and the BakerHostetler Affordable Housing team has the in-depth experience necessary to assist participants in the industry utilizing federal, state and local financing tools for development and preservation. Coordinating the needs of developers, lenders, investors, governmental authorities and other stakeholders requires complex economic, legal and regulatory knowledge.
- Representing developers in partnership with local housing authorities using low-income housing tax credits, tax-exempt bonds, RAD, CDBG-DR, state property tax exemption and state sales tax exemption.
- Representing owners for the disposition or re-syndication of their portfolios.
- Representing national and regional LIHTC syndicators on the disposition of properties and partnership interests at the end of Year 15.
- Crafting creative public/private partnerships to construct or preserve non-subsidized workforce housing.
- Serving as regular counsel to a Northeast Ohio-based, vertically integrated affordable housing organization with a portfolio of around 30,000 units and projects located in 26 states. Have represented the client in dozens of acquisitions, dispositions and refinancings and hundreds of millions of dollars in financings involving 4 percent and 9 percent LIHTC equity investments and private activity bonds.
- Counseling a Montana-based affordable housing organization specializing in the development, management and construction of workforce, rent-to-own and low-income multifamily housing developments. Have represented the client in roughly $100 million of ground-up 9 percent affordable projects located throughout the western U.S.
- Representing multiple financial institutions, large corporate investors and syndicators in 4 percent and 9 percent LIHTC equity investments through proprietary and syndicated funds in projects throughout the U.S.
- Counseling an Ohio-based public housing authority specializing in the development, management and construction of affordable, workforce and mixed-income multifamily properties, RAD conversions, issuance of tax-exempt bonds and low-income multifamily housing developments. Have represented the client in a roughly $300 million mixture of 4 percent and 9 percent LIHTC transactions and the RAD conversions of over 650 units.
- Representing seven Texas nonprofit organizations in a unique collaboration to construct and finance permanent supportive housing.
- Representing a national nonprofit organization in the acquisition of more than 50 affordable housing properties in Texas.
- Representing an Arizona-based nonprofit organization for the acquisition of general partner interests in housing tax credit partnerships across the country.
- Providing local counsel in Texas and Oklahoma for the largest portfolio acquisition of housing tax credit properties in history.