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AFFORDABLE HOUSING
The business of affordable housing raises intricate legal challenges that can be difficult to unravel. The federal budget deficit has complicated matters as funding cuts to housing programs administered by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture’s Rural Development program have created a smaller pool of money from which to finance and preserve affordable housing properties. Moreover, the effects of the capital markets turmoil continue to linger over low-income housing tax credit and tax-exempt bond housing financings. In this environment, it’s critical to work with attorneys who not only understand affordable housing, but also have the creativity to get deals closed.
Nixon Peabody’s Affordable Housing practice offers unparalleled experience for any challenges that arise, whether in connection with federally assisted housing or accessing capital markets for housing development. Our attorneys—many of whom formerly worked at HUD in several legal and policy positions—have been involved with every major federal affordable housing initiative in the last 40 years, so we’re able to help our clients work through the complex regulatory environment and benefit from public financing opportunities. Our years of experience and the relationships we’ve made in government and throughout the industry also give our clients an advantage as we bring deals and parties together.
Our Affordable Housing team also excels at providing innovative solutions that work. Nixon Peabody served as legal counsel to Martin Building Co. on the innovative financing of two housing projects in San Francisco that were recognized in 2011 by The San Francisco Business Times as “best financial” deals in its annual “Deals of the Year” issue.
Industry-wide representation
- Developers
- Local housing authorities
- State housing finance agencies
- Management agents
- Lenders and equity syndicators
- National housing trade organizations
- Other public bodies
Affordable housing services
- Section 8 contract expiration, renewal, and opt-out
- Mortgage restructuring and Mark-to-Market
- Prepayment and preservation/Section 236 decoupling
- Affordable senior housing/Section 202 prepayments
- Public housing revitalization
- HUD regulatory compliance
- Rural Housing and Community Facilities programs
- Rural Business Service programs
- Defaults, foreclosures, and property disposition
- Audits, investigations and enforcement
- HUD-insured multi-family finance
- Housing litigation and enforcement
- Affordable housing bond issuance
- Fair Housing
- HOME and CDBG Program
- Low-income housing tax credits (LIHTC)
- Congressional and agency government relations
- Traditional real estate issues
- Capital markets and real estate transactions, including municipal finance
- Affordable Housing finance and programs outside the United States
State law issues
Federally assisted housing is also regulated and assisted at the state and local levels. In the jurisdictions where our attorneys practice, our Affordable Housing practice has worked with developers and financiers in using these local programs and coordinating them with the federal programs. For example, in New York State, we have helped for-profits and nonprofits take advantage of the various private housing finance laws—including Articles 2, 5, and 11—while undertaking mortgage restructurings, decouplings, and insured and uninsured financings. We have also advised owners in restructuring and decoupling transactions and on the various New York State rent regulations that impact their proposals.
IPED Conferences and Seminars
Please also visit the Institute for Professional and Executive Development (IPED) for conference and seminar offerings.
Institute for Responsible Housing Preservation
Please visit the website for the Institute for Responsible Housing Preservation for more information on affordable housing.
Thought Leadership/AlertsWebinar Recording: Greening Affordable Housing
Originally recorded May 21, 2013 | May 24, 2013 Webinar Recording: Affordable Housing Nonprofit Governance 101
Originally recorded May 7, 2013 | May 10, 2013 . . . View all . . .
The administration's FY2014 budget, sequestration, and what it means to you
Affordable Housing Alert
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April 24, 2013
Proposed accounting rules bring clarity to affordable housing tax credit investments
Tax Credit & Syndication Alert
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April 2, 2013
CFPB proposes amendments to the ability-to-repay and qualified mortgage rules
Regulated Financial Institutions Alert
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March 15, 2013
Owners of Rent Supplement and Rental Assistance Payments (RAP) properties reminded to submit RAD expression of interest to HUD by April 1
Affordable Housing Alert
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March 6, 2013
Thought Leadership on Affordable Housing and Community Development
March 1, 2013
Qualified mortgages vs. qualified residential mortgages
Regulated Financial Institutions Alert
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February 26, 2013
HUD announces final anti-discrimination rules, wide impacts seen
Affordable Housing Alert
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February 15, 2013
HUD's long-awaited notice on Senior Preservation Rental Assistance Contracts (SPRAC) program published, seeks comments by March 11
Affordable Housing Alert
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January 8, 2013
HUD LIHTC Pilot Program's impact on HUD clearance procedures
Affordable Housing Alert
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November 30, 2012
To aid hurricane homeless, HUD bends some Housing for Older Persons rules
Affordable Housing Alert
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November 14, 2012
IRS disaster relief adds additional affordable housing for Hurricane Sandy victims and assists LIHTC project owners
Tax Credit & Syndication Alert
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November 7, 2012
Extension of tax exemption for New York redevelopment companies
Affordable Housing Alert
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October 2, 2012
HUD publishes final guidance on its Rental Assistance Demonstration
Affordable Housing Alert
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July 26, 2012
HUD issues Notice H 2012-8 with updated requirements for prepayment and refinancing of Section 202 Direct Loan
Affordable Housing Alert
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May 16, 2012
Texas Court: state's LIHTC allocation system violates Fair Housing Act
Affordable Housing Alert
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April 5, 2012
Affordable Housing Updates
Affordable Housing Alert
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March 27, 2012
Q&A with Deborah VanAmerongen: Direct Purchase Bonds
One on One: Industry Insight
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March 14, 2012
HUD announces its Rental Assistance Demonstration and moves forward with a new model for preservation and rehabilitation of certain federally assisted affordable units
Affordable Housing Alert
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March 9, 2012
Thought Leadership on Affordable Housing and Community Development
February 23, 2012
HUD Project-Based Section 8 Funding: Back to the Future
Affordable Housing Alert
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February 21, 2012
Final rule expands access to housing in HUD programs regardless of sexual orientation or gender identity
Affordable Housing Alert
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February 15, 2012
2013 budget: good news for housing for now…
Affordable Housing Alert
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February 14, 2012
NOFA for Section 538 program for fiscal year
Affordable Housing Alert
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February 13, 2012
HUD announces new Multifamily Low Income Housing Tax Credit Pilot Program
Affordable Housing Alert
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February 10, 2012
California Supreme Court Rules Against Redevelopment Agencies
Affordable Housing Alert
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January 3, 2012
IRS publishes final NMTC targeted populations regulations
Tax Credit Alert
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December 5, 2011
U.S. Supreme Court, HUD take aim at fair housing rules
Affordable Housing Alert
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November 23, 2011
HUD, IRS, and RD move forward with harmonization
Affordable Housing Alert
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November 21, 2011
Congress passes "Minibus" funding bill; preservation provisions included
Affordable Housing Alert
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November 18, 2011
HUD Announces that Non-Profits May Retain Sales Proceeds
Affordable Housing Alert
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November 14, 2011
HUD issues Reserve for Replacement guidance for Mark-to-Market properties
Affordable Housing Alert
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October 26, 2011
Direct purchase of bonds approved for New York Housing Finance Agencies
Affordable Housing Alert
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October 25, 2011
Recent New York State law allows municipal tax abatement for certain affordable housing projects
Affordable Housing Alert
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October 17, 2011
DOE issues new energy efficiency standards for new federal buildings
Affordable Housing Law Alert
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August 25, 2011
California Supreme Court orders stay on dissolution of redevelopment agencies
Affordable Housing Law Alert
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August 12, 2011
Thought Leadership on Affordable Housing & Community Development
July 1, 2011
HUD offers extensions of Rent Supplement and Rental Assistance Payment contracts expiring in 2011
Affordable Housing Law Alert
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June 30, 2011
HUD issues uniform treatment of tax credit compliance fees in budget based rent increase requests
Affordable Housing Law Alert
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June 1, 2011
HUD publishes new multifamily closing documents
Affordable Housing Law Alert
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May 4, 2011
Developments in Affordable Housing Law
Affordable Housing Law Alert
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March 7, 2011
HUD issues new Flexible Subsidy Loan deferral requirements
Affordable Housing Law Alert
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February 25, 2011
Proposed rule would expand access to housing in HUD programs regardless of sexual orientation or gender identity
Affordable Housing Law Alert
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February 3, 2011
President signs Public Law 111-372, amending Section 202 program
Affordable Housing Law Alert
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January 12, 2011
2010 Tax Act has credit, grant, and depreciation extensions and changes
Tax Credit Alert
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December 20, 2010
HUD issues proposed rule on Housing Trust Fund
Affordable Housing Law Alert
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November 16, 2010
New Americans With Disabilities Act regulations extend some obligations, fail to clarify others
Affordable Housing Law Alert
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November 16, 2010
HUD issues legislative proposals to transform Sections 202 & 811 programs; HUD clarifies decision-making process for post M2M transactions
Affordable Housing Law Alert
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October 14, 2010
Texas Court's decision raises wider scrutiny of tax credit allocation policies
Tax Credit Alert
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October 14, 2010
HUD issues new Partial Payment of Claims standards; HUD’s Office of Assisted Housing Preservation attempting to re-claim fees
Affordable Housing Law Alert
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September 30, 2010
Update on constitutionality of Florida Senate Bill 360
Affordable Housing Law Alert
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September 15, 2010
New affordable housing provisions in Dodd-Frank legislation
Affordable Housing Law Alert
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July 28, 2010
HUD issues new subsidy layering guidelines for project-based vouchers
Affordable Housing Law Alert
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July 23, 2010
New IRS rulings clarify the application of the passive activity rules and use of recourse leverage loans in new markets tax credit transactions
Tax Credit Alert
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June 17, 2010
Decision to repeal the affordable housing law on November ballot
Affordable Housing Law Alert
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June 10, 2010
. . . Hide Thought Leadership. . . PressBoston Business Journal Recognizes Nixon Peabody Clients as Real Estate Deals of the Year
May 23, 2013 Nixon Peabody Elects 13 Attorneys to Partnership
January 14, 2013 . . . View all . . .
Nixon Peabody Advises Wells Fargo in $621 Million Deal to Refinance Mortgage Loan for New York City Cooperative
November 29, 2012
Nixon Peabody Attorney to Helm National Housing Conference
June 27, 2012
Affordable Housing and Historical Restoration Project Rejuvenates Massachusetts Community
April 23, 2012
Nixon Peabody Advises in Award Winning Affordable Housing and Mixed-use Development
January 18, 2012
Coalition for the Homeless Presents Nixon Peabody's Deborah VanAmerongen with "Key of Excellence Award"
December 9, 2011
Nixon Peabody Partner Honored for Commitment to Affordable Housing Industry
December 8, 2011
Boston Development Receives $20.5M in First-Ever Choice Neighborhood Grants
September 13, 2011
New Housing Project Set to Break Ground in Boston; Nixon Peabody Advises Rogerson Communities on 70+ Unit Development
August 1, 2011
Projects Developed by Nixon Peabody Client Selected Among “Real Estate Deals of the Year;” San Francisco Business Times Recognizes Two Martin Building Co. Projects Among Best in Financing
March 29, 2011
Nixon Peabody Expands Affordable Housing Practice on West Coast; New Partner Tuan Pham Joins Firm’s San Francisco Office
March 14, 2011
Nixon Peabody Advises in Largest Affordable Housing Preservation Closing in Massachusetts History
December 22, 2010
Nixon Peabody Announces New Leadership for Government Relations Practice; Former Congressman Thomas Reynolds Named to Leadership Role
October 12, 2010
Leading Affordable Housing Attorney Joins Nixon Peabody; Firm Welcomes Partner Gary Downs in San Francisco
September 13, 2010
. . . Hide Press . . . Media Clips- What Will Tax Reform Mean for the Future of the Low-Income Housing Tax Credit (LIHTC)?
Affordable Housing Finance | March 1, 2013
Affordable housing strategic policy advisor Deborah VanAmerongen discusses how tax reform will impact the low-income housing tax credit. - Amid Gentrification, Affordable Units in Chinatown
Boston Globe | January 23, 2013
As the redevelopment of the Hong Lok House, a Boston affordable housing project, progresses, Boston Affordable Housing partner Jeff Sacks discusses the complexities of the financing. - Bay Area People
San Francisco Business Times | January 16, 2013
In this column noting executive moves and promotions, San Francisco Affordable Housing attorney Irene Kuei is included for her election to the firm’s partnership. . . . View all . . .
EventsWebinar: Greening Affordable Housing
May 21, 2013 Webinar: Affordable Housing Nonprofit Governance 101
May 7, 2013 IPED Conference: Learn the Basics: Housing Tax Credits 101
April 18, 2013 . . . View all . . .
IPED Conference: National Affordable Green Homes and Sustainable Communities Summit @ Greenbuild
November 13, 2012
Bisnow Affordable Housing and Community Development Networking Breakfast
September 27, 2012
| Washington, DC
New York Affordable Housing and Community Development Update and Networking Reception
September 12, 2012
| New York, NY
New York Affordable Housing Not-for-Profits: What is on the Horizon?
May 2, 2012
| New York, NY
IPED Conference: Learn the Basics: Housing Tax Credits 101, plus Historic Tax Credits
April 18, 2012
IPED Conference: The New Frontier in Financing Tax Credit Projects
March 21, 2012
11th Annual Developers' Roundtable
February 16, 2012
Affordable Housing Update & Networking Reception
October 5, 2011
| Boston, MA
IPED Conference: Learn the Basics: Housing Tax Credits 101
July 21, 2011
NIC MAP Boston and New England Market Briefing & Networking Breakfast
March 24, 2011
2010 Real Estate Update: Affordable Housing, LIHTCs, and Today's Real Estate Marketplace
December 15, 2010
IPED Conference: Tax Credit Property Dispositions 2010: Unlocking Value and Seizing Opportunities at Year 15 and Beyond
November 9, 2010
IPED Conference: Renewable Energy 101: Tapping into New Sources of Energy and Money for Housing and Community Development Projects
September 21, 2010
IPED Conference: 5th Annual Green Homes & Sustainable Communities Conference: The Definitive National Conference on Green Affordable Housing and Community Development
July 29, 2010
. . . Hide Events . . .
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