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

Publication

What Do the Supreme Court's Vaccination Rulings Mean for Your Business?

Reflecting the deep rift in public opinion concerning the government’s role in dictating how businesses, health care entities and public sector employers ought to act to stem the spread of COVID-19, a divided U.S. Supreme...

News

Preti Flaherty Welcomes Attorney Jeffrey Thaler to the Firm

In a move that significantly expands its pioneering Climate Strategy Practice Group, Preti Flaherty Beliveau & Pachios, LLP is pleased to announce that it has hired Jeffrey Thaler, a leading climate and clean energy...

Press Coverage

Maine Newspapers Fight Anonymous Testimony in Lawsuit Challenging Vaccine Mandate

A group of newspapers in Portland, Lewiston, Augusta, and Waterville, represented by Preti Flaherty attorney Sigmund Schutz, have filed a motion in federal court requesting the identity of nine healthcare workers seeking religious exemption from the state's...

Press Coverage

Preti Flaherty Attorneys Walker and Sedlack Provide Counsel in Portland Recount Battle

After two days, hours of discussions, reported discrepancies in voting machines, and a hand recount of ballots, Roberto Rodriguez emerged as the winner of Portland’s at-large city council election. The hotly contested race was the first ranked-choice...

News

Preti Flaherty Attorneys Mariana Baron and Nelson Larkins Honored by Maine Supreme Judicial Court for Pro Bono Service

Preti Flaherty is pleased to announce that attorneys Mariana Baron and Nelson Larkins have been honored by the Katahdin Counsel Recognition Program for their 2021 contributions to pro bono legal aid in the state...

Publication

Pandemic Legal Lessons Learned by the Real Estate Industry

Preti Flaherty attorney Simon Brown has coauthored an article for  NH Business Review  on the subject of ongoing fallout of the pandemic on the real estate industry and some key lessons learned over the...

Publication

EPA Makes History With First-Ever Addition of Hazardous Air Pollutant

After a decade-long back-and-forth with states, NGOs and industry groups, the U.S. Environmental Protection Agency has finally announced that it will add a powerful dry cleaning solvent, 1-bromopropane, or “1-BP” to its list of...

News

Preti Flaherty Partnership Announces Promotion to Partner of Kristin Collins and John Cronan, III

Preti Flaherty is pleased to announce that the firm’s partnership has named two new partners: Kristin M. Collins and John J. Cronan, III. Both attorneys stand out as distinguished practitioners within their respective fields...

Publication

Legislative Alert: Convening of the 2nd Regular Session of the 130th Legislature

The Second Regular Session of the 130 th Legislature will convene next Wednesday, January 5 th at 10 a.m. This is intended to be an in-person session of both the House and Senate with...

News

Preti Flaherty Attorney Sigmund D. Schutz Named to AAA Roster of Arbitrators

Preti Flaherty is pleased to announce that attorney Sigmund Schutz was recently named to the American Arbitration Association’s (AAA) Roster of Arbitrators. AAA is a not-for-profit organization in the field of alternative dispute resolution...