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Introduction
John Cornell represents investors, syndicators, developers and lenders in transactions involving federal and state tax credits and other incentives.
My focus
Currently, my practice focuses on the three main areas below. I’m passionate about tax credit investing and am a frequent speaker at industry conferences.
Fund formation, finance and administration
I focus in fund formation and securities law for clients in the tax credit area. Most recently my team successfully completed a $150,000,000 institutional tax equity fund for a national sponsor of low-income housing tax credit investments. I represent many fund sponsors in negotiating warehouse and bridge credit facilities, in secondary market transactions and in general corporate matters. I took a leading role in developing the industry’s position on the Dodd-Frank financial reforms.
Historic rehabilitation
I have extensive experience in transactions involving the historic rehabilitation tax credit. My team recently represented a bank investor in the rehabilitation of a historic hospital complex in New York City, which is being converted to luxury apartments. We are also representing a developer chain in the historic rehabilitation of school building in Fall River, Massachusetts which is being converted tomixed use project. Many of my HTC deals are combined with new markets tax credits and state tax credits.
Renewable energy
I also focus on representing developers and investors in renewable energy transactions. Our team successfully represented a developer in a series of utility scale solar PV installations sited on capped landfills just recently. I am also working on an innovative clean energy fund family for solar and fuel cell investments.
Looking ahead
We have been following tax reform initiatives as well as the new IRS guidance on historic rehabilitation tax credit transactions. We are developing strategies to help clients deal with the new guidance and I will be co-chairing an industry conference to explore these issues.
Insights
- “Structuring Historic Deals — Considerations and current trends,” IPED’s Historic Tax Credit Summit, Washington, DC, June 16, 2022
- “Information–Incentives for Successful Preservation Projects – Part I and Part II,” Michigan Historic Preservation Network's 40th Annual Statewide Preservation Conference, Webinar, September 22, 2020
In the news
- New York Real Estate Journal
WinnCompanies secures funding for $137 million rehabilitation of 508-unit Pines of Perinton housing community
May 16, 2023This article on WinnCompanies securing funding for the rehabilitation of the Pines of Perinton complex in the Rochester area mentions NP for advising WinnCompanies on issues related to the US Department of Housing and Urban Development, New York State regulatory compliance, federal and state housing and historic tax credits, and financing and environmental issues. The NP deal team was led by Affordable Housing & Real Estate partners Steve Wallace of Washington, DC and Meghan Altidor of New York City. The team also included Boston Community Development Finance partner John Cornell, and from the Affordable Housing & Real Estate practice: Washington, DC partner Nate Cushman, Albany counsel Dana Stanton, New York City associate Michelle Cafarelli Kabat, Albany associate Kelly Sprague, Washington, DC senior paralegal Christine Brosonski, New York City paralegals Brian Murphy and Olivia Logan, and New York City law clerk Jeremy Busch.
- Rochester Business Journal
Pines of Perinton to undergo $137 million renovation
April 14, 2023This article on WinnCompanies securing funding for the rehabilitation of the Pines of Perinton complex in the Rochester area, mentions NP for advising WinnCompanies on issues related to the US Department of Housing and Urban Development, New York State regulatory compliance, federal and state housing and historic tax credits, and financing and environmental issues. The NP deal team was led by Affordable Housing & Real Estate partners Steve Wallace of Washington, DC and Meghan Altidor of New York City. The team also included Boston Community Development Finance partner John Cornell, and from the Affordable Housing & Real Estate practice: Washington, DC partner Nate Cushman, Albany counsel Dana Stanton, New York City associate Michelle Cafarelli Kabat, Albany associate Kelly Sprague, Washington, DC senior paralegal Christine Brosonski, New York City paralegals Brian Murphy and Olivia Logan, and New York City law clerk Jeremy Busch.
- Real Estate Weekly
WinnCompanies secures funding for $137M rehab of the historic Pines of Perinton affordable housing complex
April 12, 2023This article, which covers WinnCompanies securing funding for the rehabilitation of the Pines of Perinton complex in the Rochester area, mentions NP for advising WinnCompanies on issues related to the US Department of Housing and Urban Development, New York State regulatory compliance, federal and state housing and historic tax credits, and financing and environmental issues. The NP deal team was led by Affordable Housing & Real Estate partners Steve Wallace of Washington, DC and Meghan Altidor of New York City. The team also included Boston Community Development Finance partner John Cornell, and from the Affordable Housing & Real Estate practice: Washington, DC partner Nate Cushman, Albany counsel Dana Stanton, New York City associate Michelle Cafarelli Kabat, Albany associate Kelly Sprague, Washington, DC senior paralegal Christine Brosonski, New York City paralegals Brian Murphy and Olivia Logan, and New York City law clerk Jeremy Busch.
Admitted to practice
Massachusetts
Education
Boston College Law School, J.D., magna cum laude
Boston College, A.B., magna cum laude
Professional activities
John Cornell is a member of the Boston Bar Association.Insights And Happenings
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Partner
Chair, Project Finance, Infrastructure & Real Estate Department- Washington DC
- Office:+1 202.585.8289Mobile:+1 202.716.4798
- mjgoldman@nixonpeabody.com
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