The Lotzar Law Firm, P.C.’s affordable housing attorneys focus a substantial amount of their time, energy, and talents in the affordable housing arena for both multifamily residential rental housing and single family housing. We have extensive experience in virtually all matters related to real estate, including real estate finance, restructuring and workouts, acquisition, securitization and structured finance, investment management and asset recovery, and development of commercial real estate. Of particular strength is our knowledge of the capital markets. Our experience spans a vast variety of transactions, properties, and asset classes. The real estate attorneys at Lotzar Law intuitively understand our clients’ goals and work to meet them with speed, creativity, and efficiency. Because we have experience with such a wide variety of projects, clients can rely on us to structure transactions innovatively and effectively, as well as anticipate and resolve sticky problems. Our extensive experience allows us to offer both creative solutions for issues that may arise and suggestions on improving the end product for our clients, in addition to providing routine legal services like drafting, reviewing and negotiating documents and handling regulatory filings. Developers provide affordable housing in a variety of ways: constructing new residences, rehabilitating existing buildings or even renovating abandoned public or commercial structures. No matter what form your affordable housing project takes, Lotzar Law can direct you toward the appropriate assistance programs for the greatest economic benefit. Our affordable housing attorneys have experience obtaining assistance for our clients from numerous federal, state and local government sources, including:
- Low-income housing tax credit (“LIHTC”) program.
- Tax-exempt bonds – Private Activity Bonds (“PAB”).
- U.S. Department of Housing and Urban Development (“HUD”).
- United States Department of Agriculture, Rural Development (“RD”) programs.
- Federal Agency programs, Fannie Mae, Freddie Mac.
- Federal Home Loan Bank’s (“FHLB”) Affordable Housing Program (“AHP”).
The following is intended to serve as a simple listing of common services provided by the law firm: Low-Income Housing Tax Credits (“LIHTC”) – 9% and 4%
- LIHTC Regulatory Compliance.
- Termination of LIHTC land use restriction agreements.
- Assumption of LIHTC land use restriction agreements.
- Year 15 Issues:
- Transfer of partnership interests
- Purchase and Sale Agreements for asset sales
- Rights of First Refusals (“ROFR”)
- Options to Purchase
- Qualified Contract – for LIHTCs.
- Construction loans.
- Permanent loans.
- Entity formation and structuring.
Housing Bonds for Multifamily Residential Rental Housing.
- Low – Income Housing Tax Credits – 4% Coupled with Private Activity Bonds (“PABs”) under IRC Section 142(d).
- Senior/assisted living (nonprofit or for-profit, with or without credit enhancement).
- Tax-exempt bond regulatory compliance.
- Termination of tax-exempt bond tax regulatory agreements.
- Assumption of tax-exempt bond tax regulatory agreements.
HUD Program related:
- HUD Insured Multifamily Financing – Section 221(d)(3), Section 221(d)(4), Section 223(a)(7), Section 223(f), and Section 236.
- Public/Private Partnerships with public housing authorities and for profit developers.
- HUD Section 202 (Senior Housing) and Section 811 (Special Needs) Financing.
- HUD Project – Based Section 8 Housing Assistance Payments Contracts
- HUD regulatory compliance.
- HOME Funds – soft loans.
USDA Rural Development (“RD”) related:
- Section 515 (Families or Elderly).
- Section 538 (90% Guaranteed program).
Soft funds, including:
- Federal Home Loan Bank Affordable Housing Program (“AHP”),
- Community Development Block Grant Program (“CDBG”),
- Local Initiatives Support Corporation (“LISC”) – Grants and Recoverable Grants
- National Council of La Raza – Grants and Recoverable Grants
- Arizona Community Foundation Pre-Application Grants,
- Community Housing Development Organizations – (“CHDO”) – soft loans or tax abatement.
- Arizona Department of Housing:
- Arizona Housing Trust Fund (“HTF”).
- Neighborhood Stabilization Program (“NSP”) (I, II, and III) funding.
- Military Housing (or related military facility privatizations).
- Bonds for Single – Family First –Time Homebuyers.
- Mortgage-backed securities.
- Mortgage Credit Certificate Programs (an alternative to single-family mortgage revenue bond programs).
- Tax Abatement.
- Traditional real estate issues.
For more information, please feel free to call our Scottsdale affordable housing attorneys at 480-905-0300 x103 or contact us using our secure online form.