Identified as North Carolina’s largest minority-owned law firm, The Banks Law Firm has shown an unprecedented commitment to creating a positive impact on the community. Leading affordable housing cases through better outcomes and working through public-private partnerships for housing developments has resulted in personal gratification. Read the full story as it appears in the Business North Carolina February 2022 issue. …
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 …
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 …