Affordable Housing &
Community Economic Development

The Banks Law Firm (TBLF) Affordable Housing and Community Economic Development (AHCED) team has represented all aspects of specialized financing techniques. The AHCED members of TBLF have closed transactions to develop affordable housing and other community development projects utilizing the various tax credits and other specialized financing programs. TBLF's clients include for-profit and nonprofit developers and housing authorities working with all aspects of specialized financing. TBLF has served in a variety of capacities in these transactions ranging from developer’s counsel, investor’s counsel, bond counsel, issuer’s counsel, underwriter’s counsel, and lender’s counsel.

Members of the firm have worked with all of the specialized HUD Public and Indian Housing (PIH) programs including HOPE VI, Capital Funds, RAD Replacement Housing Factor Funds, Project Based Vouchers, Choice Neighborhoods and Moving to Work Program. TBLF has been especially successful in assisting housing authorities with structuring redevelopment plans for obsolete public housing to create new revitalized communities. Our team has structured various aspects of RAD financing transactions utilizing RAD with tax credits and/or bonds. TBLF also represents owners in the development and preservation of affordable housing through the HUD insurance programs under the United States Housing Act and the National Housing Act, including 221(d)(4), 221(d)(3) and 223(f). The team’s extensive knowledge of HUD regulations and policies provides its clients with comprehensive representation related to redevelopment activities.

AHCED members work on transactions that utilize specialized funding designated for disaster recovery. Additionally, the team is well-versed in real property tax exemptions, abatements, PILOTs, and special tax treatment for LIHTC and affordable projects. AHCED members have closed transactions specifically utilizing the following specialized financing techniques:

• Low-Income Housing
• Tax Credit Transactions
• Public Housing Transactions
• HUD Regulatory and Policy Issues
• Rental Assistance Demonstration (“RAD”)
• FHA and HUD Financing
• CDBG-DR and other Disaster Funds
• Private Activity Bonds (Bond and Issuer’s Counsel)
• Nonprofit tax considerations
• Historic Tax Credits