Business Law

Affordable Housing

Representative Matters

  • Caleb Foundation - The Olde Woolen Mill in North Berwick, Maine was merely gathering cobwebs when the Caleb Foundation saw an opportunity to create housing for low-income seniors.  To help finance it, our tax attorneys were instrumental in structuring one of the very first syndications under Maine's recently expanded historic tax credit program and synchronizing the requirements of the state credit investor with the federal historic tax credit and housing tax credit investors.  We successfully obtained favorable financing necessary to green-light renovations to 40 apartments for senior residents.
  • Acadia Hospital and Spring Harbor Hospital - Successfully worked on behalf of Acadia Hospital and Spring Harbor Hospital, Maine's two non-profit psychiatric hospitals to obtain enactment of supplemental appropriation of $5.6 million to treat indigent mentally ill patients. Handled legislative approval of the appropriation necessary to make up for significant shortfall in so-called disproportionate share of hospital (DSH) Medicaid pool.
  • American Housing Preservation Corporation - When American Housing Preservation Corporation (AHPC) wanted to acquire 1600 new low-income housing units in Colorado and Wyoming, we negotiated and closed the $91 million acquisition. The deal involved 21 different property owners, and included the permanent and bridge debt and low income housing tax credit equity financing.
  • Housing Initiatives of New England Corporation - Preti Flaherty coordinated for Housing Initiatives of New England Corporation, a non-profit provider of affordable housing for seniors in both Maine and New Hampshire, a $30 million financing to assure the expansion, refurbishment and sustainability of HINEC's seven New Hampshire complexes. Our attorneys coordinated the financing, acquisition, leasing and tax structuring related to the tax-exempt bond financing provided by the New Hampshire Housing Finance Authority.
  • Laconia Housing Authority - Preti Flaherty represented Laconia Housing Authority in the revitalization of the former Scott & Williams knitting machine mill in downtown Laconia, New Hampshire. As general counsel on the $13 million project, which involved a complete transformation of the mill into three stories of affordable housing, plus commercial space on the first floor, we assisted with the acquisition of the mill from a Massachusetts corporation and coordinated the financing, which involved tax-exempt bonds and federal low-income housing tax credits. We also coordinated the transaction with several lenders, created a limited partnership for investors interested in the tax credits, and represented the Housing Authority in the sale of the commercial space on the first floor to businesses that will serve the needs of the residents: a senior wellness center, a family health clinic, and an affordable daycare facility.

Firm Highlights

News

Attorney Daniel Rapaport Selected by Peers as “Lawyer of the Year” in Best Lawyers in America 2022

Preti Flaherty attorney Daniel Rapaport has been recognized in Best Lawyers in America 2022 as the “Lawyer of the Year” in the field of Personal Injury Litigation – Defendants. Inclusion in Best Lawyers in...

News

Attorney Joseph Donahue Selected by Peers as “Lawyer of the Year” in Best Lawyers in America 2022

Preti Flaherty attorney Joseph Donahue has been recognized in Best Lawyers in America 2022 as the “Lawyer of the Year” for the Augusta region in the field of Administrative/Regulatory Law. Inclusion in Best Lawyers...

Publication

Legislative Alert: Maine Legislature Adjourns!

The First Special Session of the 130 th Legislature finally adjourned on Monday night, July 19 th . As many of you may remember, the First Regular Session ended in March 30th when the...

Publication

Understanding the New COVID-19 Vaccine Mandate for Healthcare Workers

Many Maine healthcare facilities were already in the process of evaluating, drafting, and implementing mandatory vaccine policies when the Maine Department of Heath and Human Services issued an Emergency Routine Technical Rule on the...

News

46 Preti Flaherty Attorneys Selected by Peers for Inclusion in Best Lawyers in America 2022, Including 3 “Lawyers of the Year”

Forty-six Preti Flaherty attorneys have been named to Best Lawyers in America 2022, including four “Ones to Watch” and three “Lawyer of the Year” recipients. Inclusion in Best Lawyers in America is considered a...

Press Coverage

The Maine Monitor Sues York County for Jail Call Records

On August 2, The Maine Monitor filed a lawsuit against York County, challenging the County's denial of reporter access to public records that may detail times it has recorded confidential conversations between defendants being held at the...

News

Preti Flaherty Welcomes Cameron Ferrante, Paola Maymi, and Anne Sedlack to the Firm

Preti Flaherty is pleased to announce the arrival of three new members to the firm: Cameron A. Ferrante, Paola A. Maymi, and Anne E. Sedlack. Cameron Ferrante is a graduate of Northeastern University School...

Publication

New Maine Law Limits Employers’ Ability to Request Applicant Criminal History Information

Last month Governor Mills signed into law LD 1167, “An Act Relating to Fair Chance in Employment.” Maine joins a growing number of states in adopting a “ban-the-box” law that restricts employers’ ability to...

Publication

What to do When a Lender Receives a Notice from the Municipality that Mortgaged Property is Going to be Condemned or is in Violation of the Building Code?

Occasionally, a lender will be served a notice from a municipality alerting the lender that a mortgaged property has had unpermitted construction projects, or otherwise violates the municipal building code. The Maine Uniform Building...

Publication

The Latest from OSHA on Mitigating and Preventing the Spread of COVID-19 at Work

On the tails of updated guidance from other agencies, the U.S. Department of Labor Occupational Safety and Health Administration ("OSHA") released new pandemic-related guidance last month. This guidance was issued on June 10, 2021...