Business Law

Affordable Housing

Preti Flaherty’s Affordable Housing Practice Group operates at the complex intersection of business, real estate, and tax law. Circumstances may change, but the goals of affordable housing developers remain the same: sustainable economic development, community revitalization, and safe and affordable housing for populations in need. Success in an environment of constantly evolving market forces, such as government incentive programs, zoning and land use issues, and challenging economic conditions, demands innovative legal strategy to get the job done.

A Framework Built for the Future

Working both regionally and nationally, we handle major transactions for nonprofit and for-profit developers, lenders, equity investors, and state and local housing authorities.  Our Affordable Housing Group provides a wide range of services, including:

  • 9% and 4% Low-income housing tax credit financing
  • Tax-exempt bond financing
  • Historic tax credit financing
  • Project-based Section 8 transactions
  • Community Development Block Grants
  • HUD Rental Assistance Demonstration (RAD) conversions
  • Construction and permanent mortgage loans and syndications
  • Federal and state subsidies
  • Public-private partnerships
  • Multi-family housing and community development transactions
  • Senior housing transactions
  • Property acquisitions and sales
  • Limited partner dispositions
  • Sale/leasebacks
  • Ground and space leases and condominiums
  • Property tax exemptions, abatements and PILOTs
  • Legislative and agency approvals and permitting
  • Land-use matters (zoning, site plan approval, special permits, and subdivisions)
  • Environmental matters
  • Title matters
  • Rental housing operations matters, including Fair Housing and lead-based paint compliance

The attorneys that make up Preti Flaherty’s Affordable Housing Group are actively and proudly involved in various organizations supporting affordable housing in New England, including the Northern New England Housing Investment Fund, the Maine Affordable Housing Coalition and the Maine Real Estate Development Association.

On a Foundation of Results

We have a demonstrated record of success working with financing authorities to secure historic results for our clients. Our tax attorneys were instrumental in obtaining first-of-its-kind financing for renovations to 40 senior housing units under Maine’s expanded tax credit program. We took the lead in coordinating the financing, acquisition, leasing, and tax structuring related to a $30 million-tax exempt bond financing provided by the New Hampshire Housing Finance Authority to assure the expansion, refurbishment, and sustainability of seven senior housing complexes. Our team serves as trusted advisors and general counsel to small and large-scale affordable housing developers across New England and maintains strong relationships with local, state, and national housing and finance agencies.  

The connections we have cultivated and our creativity in working with a combination of financing vehicles are the key factors our clients need to overcome the challenges presented by regulatory and economic forces to see their projects through to completion.

Firm Highlights

Event

N.H. Virtual Employment Law Summit Series: Options for Dealing with Your Employees' COVID-19 Challenges

For over 25 years, Preti Flaherty's Employment Law Group has been keeping clients, business partners and friends up to date on recent employment law developments through our annual Employment Law Summits. Earlier this summer...

Event

Maine Virtual Employment Law Summit Series: Options for Dealing with Your Employees' COVID-19 Challenges

For the past 26 years, Preti Flaherty's Employment Law Group has been keeping clients, business partners and friends up to date on recent employment law developments through our annual Employment Law Summits. Earlier this...

News

Preti Flaherty Joins Maine Justice Foundation for Racial Justice Fund

As part of our ongoing efforts to promote racial justice, Preti Flaherty has joined with the Maine Justice Foundation and other local businesses and philanthropists to create the Racial Justice Fund . Each of the 22 founders...

Event

N.H. Virtual Employment Law Summit Series: Managing a Safe Return to Work

For over 25 years, Preti Flaherty's Employment Law Group has been keeping clients, business partners and friends up to date on recent employment law developments through our annual Employment Law Summits. Earlier this summer...

Publication

Legislative Alert: Economic Recovery Grant Program Update

On Thursday, August 20, 2020, Governor Janet Mills announced the launch of the newly established Maine Economic Recovery Grant Program – a state-based approach to help support struggling Maine businesses and nonprofit organizations that...

Press Coverage

Washington Cannabis Company Says Oklahoma Residency Rules Unconstitutional

Oklahoma has become the latest battleground in the growing challenge to state residency requirements for cannabis business licenses. As has happened in Maine and other states, a nonresident business has initiated a suit against...

Publication

Maine Workers' Comp Alert: Update on Appellate Division Findings on Notice of Injury Requirements

Maine WC Appellate Division Affirms Decision Finding Untimely Notice of Injury; Reiterates Requirements for Timely Notice As background, the notice period is 90 days for dates of injury between January 1, 1993, and January...

Publication

It's Time to Fight Back Against Illegal State and Local Cannabis Laws

Matt Warner, of Preti Flaherty's Cannabis Business Practice Group, has authored an article for Cannabis Business Executive  on the constitutionality of state residency requirements for obtaining a license to operate a cannabis-related business, how such...

News

Federal Indictments Follow Long-Running Antitrust Class Action in Ready-Mix Concrete Industry

Yesterday, the U.S. Department of Justice announced that a federal grand jury in Savannah, Georgia, indicted a ready-mix concrete company and four individuals for fixing prices, rigging bids, and allocating customers and markets in...

Press Coverage

Portland-Based Education Nonprofit Sued For Study Abroad Refunds

A class-action suit has been filed against CIEE on behalf of thousands of college students who were denied any refund of tuition, room and board, and other fees for Spring 2020 study abroad programs...