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Overview

Stearns Weaver Miller’s Affordable Housing practice represents developers who use low income housing tax credits, tax exempt bond financing, and other public and private funds for the construction of affordable housing for low and moderate income households. We also represent some of the nation's largest lenders making construction loans or providing credit enhancement to developers of affordable housing.

Because affordable housing developers compete for tax credits, a successful outcome requires painstaking attention to detail as well as familiarity with all of the governmental programs and agencies that are potential funding sources. Our affordable housing lawyers counsel clients on every aspect of the transaction, including the structure of the project partnership (including the admission of the equity investor as a limited partner), the application for tax credits, the securing of supplemental financing from public and private sources, the review and negotiation of loan documents for every aspect of the transaction, and title, survey and site planning issues. In addition to handling all real estate, corporate and tax matters involved in an individual transaction, we assist clients with post-closing matters such as construction issues, compliance monitoring, and continuing disclosure duties.

We regularly work with lawyers in the Tax Department on issues such as proper structuring of developer fee payments, partnership tax allocations, and related matters. Our Land Use, Zoning, and Environmental Department provides invaluable assistance to our developer clients as they seek to determine the viability of developing proposed multifamily affordable apartment projects. We work with our clients’ in-house staff and professional engineers in seeking governmental approvals needed for proposed developments.

  • Construction Mortgage Loans
  • Credit Enhancement
  • Federal Low Income Housing Tax Credits
  • Federal & State Housing Agencies
  • Florida Housing Finance Corporation Programs
  • Housing Discrimination
  • HUD Construction & Permanent Loans
  • HUD Mixed Finance Transactions
  • Freddie Mac & Fannie Mae Mortgage Loan Programs
  • Local Government Subsidies
  • Local Housing Authorities
  • Permanent Mortgage Loan Financing
  • Real Estate
  • Review & Negotiation of Loan Documents
  • Supplemental Financing
  • Tax Exempt Bond Financing
  • Year 15 Exit Issues Including Buyout of Limited Partner

Events: Building for a Sustainable Future
Casa Familia and University of Miami-Nova Southeastern University Center for Autism and Related Disabilities |July 2017|Terry M. Lovell

Publications: Why I Choose To “Give Kids A Chance”
The Miami Foundation |May 2017|Brian J. McDonough

In the Media: Stearns Weaver Leads Debt Placement in Israel for Developer
Daily Business Review|January 2017

In the Media: Legal Services and Pro Bono Attorneys Successfully Join Forces Once Again
Legal Services of Greater Miami |June 2016

Events: Workforce Housing
CREW-Miami |June 2016|Patricia K. Green

Events: The Affordable Housing Credit Program – Current Trends
Royal American Owners Retreat |April 2015|Brian J. McDonough

In the Media: Brian McDonough Gives Back Through Give Kids A Chance Scholarship
Tax Credit Advisor|July 2013

Events: An Overview of the Legal Aspects of Financing Affordable Housing Using Bonds and Tax Credits
Southeastern Region Bond Conference & Workshop |March 2007|Patricia K. Green

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