Herrick’s Affordable Housing team draws upon the skills of our veteran attorneys in the representation of our clients, including for-profit and non-profit organizations, developers, general contractors and builders, public and private financial institutions and governmental agencies in multifaceted affordable real estate transactions of all sizes. Our team brings together general real estate, financing, tax credit syndication, tax exempt bond financing, zoning, land use, municipal law, not-for-profit, corporate governance, community development, affordable and market rate condominium and cooperative development and related specialties under one roof to service our clients working on affordable housing and community development projects.
The current economic and public funding climate presents ever increasing complexities in affordable housing and community development transactions, making it critical to work with seasoned attorneys who understand the field, who have experience with every federal, state and local housing program, and who have the creativity to find innovative solutions to the multifaceted challenges frequently involved in projects. Whether you're in need of advice on the overall structure of a transaction, entity creation, project refinancing, preservation, rehabilitation and restructuring, tax abatements and exemptions, dispositions, regulatory issues, ground leasing and purchase and sale transactions, or general counsel guidance, our attorneys have the experience necessary to guide you through the entire process.
New York Affordable Housing
- Inclusionary Housing
- Housing Preservation/Restructuring
- Affordable New York and 421-a Programs
Specialized Industry Financing & Incentives
- Mixed Finance Projects
- Tax-Exempt Bond Financing
- FRESH
- ICAP
- Senior Housing
- Supportive Housing
- Housing Choice Vouchers - Including Housing Assistance Payment (HAP) contracts, Tenant-Based Vouchers (TBVs), Project-Based Vouchers (PBVs) and Enhanced Vouchers (EVs)
- Federal, State or City Financing Programs
- Charter Schools
- Mixed-Use Projects
- Non-Profit Entities providing services to or otherwise engaging in the affordable market
Tax Credits
- Low-Income Housing Tax Credits - Assisting clients across the U.S. with varied interests in LIHTC projects, including construction lenders, equity fund investor syndicates, individual investors and developers.
- New Markets Tax Credits - Structuring NMTC transactions on behalf of investors, community development entities (CDEs), Qualified Active Low-Income Community Businesses (QALICBs) and leverage lenders.
- Historic Tax Credits - Structuring HTC transactions on behalf of investors and developers throughout the United States.
- Brownfields Tax Credits - Working with private-sector entities to revitalize brownfield sites.
New York Community Development Lending
- New York Community Development Lending – Advising New York construction lenders on complex lien law issues which also involve various affordable housing programs that function through New York City’s Department of Housing Preservation and Development (HPD).
- Representing borrowers and lenders in the restructuring and refinancing of capital stacks secured by affordable properties.