A PHA Success Story in Developing Tax Credits/RAD Housing [Video Available]

HumAdmin Catherine Liu, Housing & Community Development, Publications

Learn how the Charlotte Housing Authority succeeded in obtaining low-income housing tax credit award  Congratulations to the Charlotte Housing Authority on its recent closing on the tax-credit equity financing and RAD conversion of its $14.2 million Tall Oaks redevelopment project. Part of the development costs is financed by a low-income housing tax credit award of over $8.2 million. Despite strong …

From May to Must: Supreme Court of North Carolina Holds PHAs Must Meet the Discretion Requirement Before Eviction

HumAdmin Housing & Community Development, Howard Rhodes

A public housing agency (“PHA”) is obligated to protect residents from the dangers of illegal drugs. Federal law requires PHAs to include lease provisions that grant them power to evict tenants who sell or use such drugs on or off premises. This power is expansive: the U.S. Supreme Court confirmed that PHAs may even evict tenants who did not know …

Greensboro Housing Authority Shared Valuable Expertise in RAD Portfolio Conversions [Video Available]

Sherrod Banks Catherine Liu, Housing & Community Development, Publications

In 2015, the Greensboro Housing Authority (“GHA”) took a significant step in repositioning its assets by converting 893 units in eight public housing developments to project-based Section 8 units under the HUD RAD program. Some of the transactions involved FHA mortgage loans, Fannie Mae mortgage loans, tax-exempt bonds and low-income housing tax credits, and some had no outside financing at …

Property Tax Exemptions for Affordable Housing Projects [Video Available]

Sherrod Banks Housing & Community Development, Publications, Sherrod Banks

Filing deadlines are fast approaching in North Carolina Sherrod Banks gave a free seminar on property tax exemptions for affordable housing in North Carolina and South Carolina at the Carolinas Council Conference in Myrtle Beach, South Carolina, just in time for developers, owners and housing authorities to prepare applications for property tax exemptions for 2016.   Applications for tax exemptions are …

TJSL Hosts ABA Affordable Housing and Community Development Law Forum

Talicia Neal Housing & Community Development

Published:  February 20, 2015 by the Thomas Jefferson School of Law San Diego On Thursday, February 12, 2015, the TJSL Community Economic Development Clinic, Career Services, and the ABA Forum on Affordable Housing and Community Development Law sponsored “Careers in Affordable Housing and Community Development Law.” Moderated by Adjunct Professor and supervising attorney of the Community Economic Development Clinic, Rebecca …

NC Court of Appeals Examines the Meaning of “Ownership” for Property Tax Exemption in LIHTC Developments, and NC Supreme Court Refuses to Further Rule

Sherrod Banks Housing & Community Development, Sherrod Banks

By Sherrod Banks and Barbara Herrera In a case of first impression, the North Carolina Court of Appeals in In re Blue Ridge Housing of Bakersville LLC[i] upheld a North Carolina Tax Commission decision that Cane Creek Village, a low-income housing development created with low-income housing tax credits (LIHTC), was tax exempt under N.C. Gen. Stat. § 105-278.6(a)(8).  At issue was whether …

The Banks Law Firm Closes $42 Million Dollar Transaction

Sherrod Banks Announcements, Housing & Community Development

Durham, NC – Sherrod Banks, CEO of The Banks Law Firm, announced that his firm closed a $42 Million Dollar transaction for the Charlotte Housing Authority during the holidays.  According to Banks, “The funds will be used to modernize two exiting apartment communities for the elderly, Strawn Tower and Parktowne Terrace, located in Charlotte, N.C.” The proposed modernization of both properties …

The Banks Law Firm Named General Counsel for the North Charleston Housing Authority

Sherrod Banks Announcements, Housing & Community Development

Durham, NC – Sherrod Banks, Principal of The Banks Law Firm, announced The Banks Law Firm has been named General Counsel to the North Charleston Housing Authority, providing legal services for all facets of its operations.  Tanya Locklair will act as General Counsel for the Authority. Locklair is a Principal at The Banks Law Firm. She joined the Firm in 1996. …