Legally Speaking Archives

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To File a BOI or Not File a BOI, That is the Question

, & 10 min read

When the CTA went into effect on Jan. 1, 2024, both newly formed and previously established companies, large and small (but mainly small) were to provide certain information to FinCEN detailing: 1) “Beneficial Ownership” and 2) “Company Applicants.”

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Investment Earnings and the 50 Percent Test

6 min read

For an affordable multifamily housing project to qualify for the maximum allowable amount of four percent LIHTCs, at least 50 percent of the project’s aggregate basis (consisting of eligible basis plus land) must be financed with the proceeds of tax-exempt bonds issued pursuant to an allocation of private activity bond volume cap by a state housing authority or another municipal issuer (the 50 percent test).

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The Technical Aspects of Closing a Faircloth-to-RAD Deal

8 min read

As several of the early Faircloth-to-RAD projects are completing their conversion to the Rental Assistance Demonstration (RAD) program, practitioners are also starting to better understand the legal “nuts and bolts” of how to close a transaction and ensure a smooth transition from Faircloth-to-RAD.

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HOTMA Compliance for the Discerning Stakeholder

7 min read

The last scalable change to the Department of Housing and Urban Development’s program compliance was around the time of America’s bicentennial. It’s certainly a different world today. And you’re not alone in wanting to understand its impact.

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Important LIHTC Partnership Agreement Features

7 min read

The Supreme Court recently heard arguments in City of Grants Pass, Oregon v. Johnson, in a rare instance of the Court grappling with the issue of homelessness.

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How the Supreme Court Could Impact Homelessness

4 min read

The Supreme Court recently heard arguments in City of Grants Pass, Oregon v. Johnson, in a rare instance of the Court grappling with the issue of homelessness.

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Blending Yields

& 7 min read

Due to the COVID-19 pandemic and resulting impacts on the economy and financial markets, as well as the Federal Reserve’s raising of short-term rates to stave off inflation, interest rates and construction costs have risen dramatically, resulting in funding gaps that many multifamily affordable housing developers in the four percent LIHTC space have had difficulty filling.

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Federal Tax Credit Legislation Recognizes Housing Crisis and Provides Platform for Additional Reform

, & 6 min read

Against a backdrop of rising rents nationwide and a lack of housing supply in major cities, suburbs, and rural areas, leaders in Washington, DC are devoting significant time and attention to addressing the affordable housing crisis. President Biden, in his March 7th State of the Union address, called for Congress to enact his plan to “build and renovate two million affordable homes and bring…rents down.”

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Representation Matters

6 min read

If 20 years ago you had told a young Henry Santana that someday he would run for Boston City Council, the recent immigrant from the Dominican Republic growing up in public housing would have thought you were playing a joke on him.

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Federal Affordable/Workforce Housing Legislation Déjà Vue 

, & 5 min read

Federal Affordable/Workforce Housing Legislation Déjà Vue 

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An Update on HUD’s Green and Resilient Retrofit Program

5 min read

In May 2023, the Department of Housing and Urban Development (HUD) published guidelines related to its Green and Resilient Retrofit Program (GRRP).

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Mixed-Use Developments

6 min read

In affordable housing and community development, nothing seems to captivate planners, developers, community advocates and government officials more than a proposed mixed-use development.

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