Klein Hornig’s lending work is an integral part of our affordable housing and community development practice. We represent a variety of lending clients – including commercial banks, mission-driven community development financial institutions, public housing authorities, municipal lenders, regional consortia, and nonprofit organizations – in connection with affordable housing and non-housing community development projects. Our lending experience includes:
- Pre-development, construction, and construction-to-permanent loans
- Bridge loans
- Line of credit facilities
- New Markets Tax Credit leveraged financing
- Public housing authority loans of HOPE VI and capital funds
- Loans from municipal lenders and nonprofits using HOME, CDBG, NSP, AHP, and various state and local funding programs
We have expertise in structuring and negotiating participation arrangements, bond purchases and credit facilities for deals involving single or multiple development projects or funding programs. Klein Hornig lawyers have taken part in a number of cutting-edge projects, including working with leading nonprofit lenders to develop a pilot loan product for a group of high-achieving community development organizations in the Western U.S.