Harvard Law School , JD, 2009, magna cum laude
St. Mary's College of Maryland, BA, 1999, summa cum laude, Phi Beta Kappa
Eric Herrmann focuses his practice on closing transactions involving public housing/mixed-finance development, Low-Income Housing Tax Credits, tax-exempt bonds, FHA-insured loans, and the preservation of expiring use properties. He has advised for-profit and nonprofit developers across the country on housing related issues including corporate structuring, tax credit exit transactions, combining FHA-insured loans with tax exempt bonds, mixed-use development, section 8 renewals, HUD regulatory matters, and general real estate law.
Before joining Klein Hornig, Eric attended Harvard Law School where he served as co-chair of Harvard Law School's Tenant Advocacy Project and as a student attorney at the Wilmer Hale Legal Services Center's Housing Unit. Prior to attending law school, Eric developed his interest in affordable housing and community development as a project manager and loan officer at the National Housing Trust, where he worked on transactions involving the preservation of thousands of units of affordable housing. Eric has also worked as an English teacher in Shanghai, China, and at a camp for Burmese refugees in Thailand.
- District of Columbia
- Represented a national non-profit developer and an affiliate of a local church in the District of Columbia in a joint venture to redevelop the church’s campus as a mixed use facility to include affordable housing, community facilities, and new sanctuary space. The project involved a complex real estate structure and was financed with 4% credits and tax exempt bonds, and subordinate funding from the City for the affordable housing, and new markets tax credit financing for the community space.
- Represented a national for-profit developer in rehabilitating and preserving of a former Section 236 property in south Florida with 9% credits in partnership with the property’s non-profit owner. The transaction involved the “porting” of Section 8 units, and the bifurcation and mark up to market renewal of the existing Section 8 contract at the property.
- Represented a national for-profit developer in partnering with the non-profit owner of a distressed Section 202 in Baltimore, MD to preserve and rehabilitate the property using 4% credits, cash-collateralized tax exempt bonds, and a permanent 221(d)(4) loan. The project involved prepayment of an existing Section 202 direct loan, renewing an existing HAP contract at “post-rehab” market rents, and use of Section 8 “pass through” assistance to fund relocation costs during rehab.
- Represented the sponsor of a portfolio of affordable multifamily properties in the District of Columbia in forming a special purpose entity to install, own, and operate solar energy facilities at five of their properties using Energy Tax Credits and Solar Renewable Energy Credits.
- Represented a Southern housing authority in the phased redevelopment of a public housing community that had been destroyed by a tornado. The redevelopment of the site as a mixed-income community was financed with 9% credits, public housing capital funds, CDBG-Disaster Relief funds, and other state and local sources.
- Represented a nonprofit developer of supportive housing for the elderly in the construction of 150 units in Framingham, MA using Section 202 capital assistance, tax-exempt bonds with Federal risk-sharing, 4% credits, TCAP funds, HOME funds, and other state and local sources.
- Klein Hornig LLP HUD Housing Alert, HUD Takes New Step to Facilitate Transfers of Section 8 PBRA between Projects - June 2017
- City Life/Vida Urbana, Volunteer
- Unbound: Harvard Journal of the Legal Left, Editor (2006-2007)
- Presenter, “Section 8 Fundamentals and RAD 101,” ABA Forum on Affordable Housing and Community Development Mid-Winter Boot Camp – February 2018
- Presenter, “Introduction to Public Housing and Public Housing Redevelopment,” Housing Association of Nonprofit Developers (HAND) – April 2017
- Panelist, “Multi-family Roundtable: A Potpourri of Issues Related to Assisted Housing,” National Leased Housing Association’s (NLHA) 45th Annual Membership Meeting – June 2016
- Panelist, “HUD Multi-family Programs,” American Bar Association Forum on Affordable Housing and Community Development – May 2016
- Speaker, "Transferring and Merging HAP Contracts: A look at HUD’s clarified guidance as well as best practices from seasoned professionals," National Leased Housing Association, Fall Seminar – October 2015