Nothing is more important to the affordable housing community than preserving (and enhancing) the existing stock of affordable housing. As projects financed through Federal and state assistance programs reach the end of their restricted periods, many are at risk of conversion to market-rate housing, while others are threatened by age, physical condition, and financial vulnerability. Our clients understand the critical need to preserve these projects, and we help them make that vision a reality. Our lawyers have extensive experience working with the entire housing preservation tool kit, including:
- Section 8 HAP renewals, including mark-to-market and mark-up-to-market
- Refinancing and syndication of older HUD 202 and 811 projects
- HUD Section 236 decouplings
- Bond financing and 4% tax credits
- FHA refinancing
- Restructuring of ELIHPA and LIHPRHA projects
- Conversion of enhanced vouchers to project-based assistance
- Porting of Section 8 Contracts under "Section 8(bb)" or "Section 212" (formerly 215/318)
We have also represented both general partners and investors in numerous "year 15" transactions at the end of the initial tax credit compliance period. In every case, our goal is the same – to help our clients maintain the existing housing stock and, where possible, transform it into vibrant, thriving communities.
FOR MORE INFORMATION, SEE OUR REPRESENTATIVE TRANSACTIONS OR CONTACT HENRY KORMAN OR STEVE NILES.