Affordable Housing

AGG's Affordable Housing Practice Team represents developers, equity investors, property managers, lenders and public housing authorities in a variety of affordable housing transactions. We have experience in negotiating and structuring transactions involving the major syndicators of low-income housing tax credits, and have represented clients in bringing to completion projects that are located throughout the United States. We also have extensive experience in structuring and closing transactions financed with subsidized and conventional financing sources including:

• Federal and State Low Income Housing Tax Credits
  
• Tax-exempt Bonds (Private activity, 501(c)(3) and Essential Function)
  
• Various forms of Bond Credit Enhancements
  
• HOPE VI Funds and other mixed finance sources
  
• FHA/HUD Loan Programs (including 221(d)(4), 221(d)(3), 202 and other programs)
  
• CDBG, HOME, HOPWA and other governmental financing sources
  
• 236 Interest Reduction Payment Refinancings
  
• Affordable Housing Program Funds
  
• Conventional Acquisition, Bridge, Construction and Permanent Financing
  
• Rehabilitation Tax Credits for Historic Structures (including non-residential properties)

SCOPE OF SERVICES

We assist clients in all aspects of the affordable housing development process, including:

• Structuring, formation, organization and negotiation of joint ventures, limited liability companies, partnerships, corporations, and nonprofit corporations (including joint ventures between for-profit and non-profit entities)
  
• Acquisition and Development
  -- Site control (real estate contracts and options)
  -- Property Due Diligence (title, survey, zoning, environmental)
  -- Drafting and Negotiation of Development Agreements
  -- Review of construction, architect and engineering contracts
  -- Closing of acquisition of real estate
  
• Review and negotiation of debt and equity financing documents
  
• Tax planning, including 501(c)(3) tax exempt entity determination letters
  
• Assistance in application for various types of financing (including tax credits and private activity bonds) and negotiation with State Housing Agencies
  
• Regulatory advice regarding Davis Bacon, Fair Housing Act and compliance under various financing programs
  
• Preparation and negotiation of property management and operating documents

REPRESENTATIVE TYPES OF TRANSACTIONS

We assist clients with all types of affordable housing transactions including, without limitation, the following types of transactions:

• Representation of developers in both new construction and rehabilitation of multifamily and seniors affordable housing developments
  
• Representation of housing authorities in HOPE VI public/private revitalization projects
  
• Representation of equity investors in tax credit transactions
  
• Representation of private developers in joint ventures with public housing authorities and other public agencies
• Representation of developers of affordable single family homeownership developments
• Representation of developers in mixed use projects (commercial/residential) involving subsidized financing
• Representation of lenders in affordable housing financing transactions

News & Events > Arnall Golden Gregory Names 5 New Partners: Jeffrey C. Adams, Henry R. Chalmers, Anthony L. Duncan, Anne F. Gerry, and J. Hayden Kepner Jr. > AGG's Affordable Housing group co-hosted "The New Markets Tax Credit Program" seminar with Reznick Fedder & Silverman at the Marriott Marquis on October 10. > Alison Drummond, who co-chairs AGG's Affordable Housing Group, spoke in September on bond and tax credit financing at the annual conference of the Georgia Affordable Housing Coalition held in St. Simons, Georgia. She also spoke in Charlotte at Reznick Fedder and Silverman's Historic Credit seminar.

Related Practice Areas > > > Commercial Real Estate Institutional Lending Leasing

Sites of Interest > GA Affordable Housing Coalition