HUD + Regulatory

Golda Meir House, Newton MA

Jewish Community Housing for the Elderly

Klein Hornig represented Jewish Community Housing for the Elderly (JCHE) in the recapitalization and rehabilitation of Golda Meir House, a 199 unit senior housing project in Newton, MA. The transaction, which was financed with tax exempt bonds and LIHTC equity, funded rehabilitation of over $150,000 per unit. In addition to closing the financing, we secured HUD approvals for the prepayment of the project’s existing Section 202 Direct Loan; the subordination of the project’s existing Section 202 Capital Advance to new debt; a “mark-up-to-market” renewal of the project’s HAP contract; and a “pass-through” of the project’s Section 8 rental subsidy.

Oakbrook Village, Summerville SC

Omnicorp Iota Corporation

Klein Hornig negotiated and closed a Partial Payment of Claim (PPC) transaction on Oakbrook Village, a 192-unit, Section 221(d)(4) project in South Carolina.  The transaction permitted the project’s owner to bifurcate the project’s existing delinquent loan into a HUD-insured "performing" first loan and a HUD-held "soft" second loan, allowing the owner to cure the loan default, avoid foreclosure, and resolve potential enforcement actions.  Equally important, the restructured financing enabled the owner to financially stabilize the project for the long term.

Kings Terrace, Miami FL

Pinnacle Housing Group

Kings Terrace was a foreclosed HOME-funded property that was acquired by Pinnacle Housing Group in order to demolish and rebuild the project from the ground up.  Klein Hornig was retained to advise on the complex issues surrounding the relocation of the former residents during this process.  Our attorneys helped navigate the complex interaction of the Uniform Relocation Act, Section 104(d), NSP non-displacement requirements, and Federal laws protecting tenants in foreclosed housing, successfully relocating hundreds of households with minimal disruption to the affected families, the project schedule, and the project budget.

Olmstead Compliance Matters, Georgia

Georgia Housing Finance Authority

As part of a joint effort with the Technical Assistance Collaborative, Klein Hornig attorneys worked with the Georgia Housing Finance Authority to secure HUD approval to target Section 8 Housing Choice vouchers for individuals with serious mental illnesses and intellectual disabilities.  The occupants of the housing are entitled to community-based housing and supportive services under a court settlement between the State and the Justice Department pursuant to the Americans with Disabilities Act.  Our role included training activities, policy drafting, and advocacy with HUD for the required approvals.