Development Incentives for Construction of 151 Apartments
Counseled client regarding the use of various development incentives, including the formation of a qualified opportunity fund, to assist with the construction and development of approximately 151 residential apartment units.
Formation of Qualified Opportunity Zone Business
Assisted client with the formation of a qualified opportunity zone business, the amendment and restatement of qualified opportunity fund organizational documents, and the adoption of a written schedule to satisfy the working capital safe harbor under the U.S. Treasury Regulations to address project delays caused by the COVID-19 global pandemic.
Assignment of Interests in Limited Partnerships Owning 700+ Kansas Apartment Units
Assisted multiple general partner entities with the assignment of their interests in 38 limited partnerships that own approximately 700 multifamily apartment units located in the State of Kansas. The assignments included seeking approval and consent to the transfers from approximately 100 limited partners, the Kansas Housing Resources Corporation, the U.S. Department of Housing and Urban Development, and the U.S. Department of Agriculture - Rural Development.
Assignment of Interests in Limited Partnerships Owning 500+ Tennessee Apartment Units
Assisted multiple general partner entities with the assignment of their interests in approximately 20 limited partnerships that own 500+ multifamily apartments units located in the State of Tennessee. The assignments included seeking approval and consent to the transfers from approximately 100 limited partners.
Bond Counsel for $50 Million Chapter 100 Bond Issue
Served as bond counsel for the issuance of $50 million in Chapter 100 Bonds to fund the development of a new headquarters/home office campus for a publicly traded company.
Purchaser’s, Lender’s Counsel for $20.8 Million Credit Facility
Served as purchaser's and lender's counsel with respect to a $20.8 million credit facility related to the acquisition and development of a 216-unit low-income multifamily housing project located in South Carolina.
Lender’s Counsel on $9.6 Million Equity Bridge Loan
Served as lender's counsel for a $9.6 million equity bridge loan related to the development of a 236-unit low-income housing tax credit project in Detroit, Michigan.
Counsel to Lender, Purchaser on $17.6 Million Credit Facility
Served as purchaser's and lender's counsel with respect to a $17.6 million credit facility related to the acquisition and development of a 212-unit low-income housing tax credit project located in North Carolina.
Advised on Tax Implications of Selling Partnership Interests
Advised housing management client on the tax implications related to the sale of partnership interests and cancellation of indebtedness income, which included analyzing the tax consequences of transaction structures and financing classifications to avoid negative income tax consequences to the partners.
Developer's Counsel for Low-Income Housing Property
Served as developer's counsel with respect to the development of a 54-unit low-income housing tax credit property located in Oklahoma.
Formation of Qualified Opportunity Fund, Opportunity Zone Business
Assisted a client with the formation of a qualified opportunity fund and a qualified opportunity zone business, including drafting all fund offering documents for a $4 million capital raise to fund a hotel development.
Disposition of Management, Partnership Interests for Multifamily Project Manager
Along with other attorneys in the firm, Rachel assisted a national multifamily project manager with disposing of management and general partnership interests in five states. The dispositions included seeking consent from housing agencies, the U.S. Department of Housing and Urban Development and the U.S. Department of Agriculture - Rural Development.
$40 Million Kansas Industrial Revenue Bond Issuance
Served as company counsel for the issuance of Industrial Revenue Bonds to achieve real property tax abatement for a large international company with respect to the expansion of its commercial facility.
Review of 480 Leases for Grocery Store Chain
Conducted a lease review for a national grocery store chain, consisting of approximately 480 leases across the country with a wide range of landlords and terms. This involved flagging construction and improvement rights, maintenance and repair responsibilities, approaching renewals and incomplete files.
$43 Million Bond Issue for Municipality
Represented a municipality in the issuance of more than $43 million in bonds to fund the redevelopment of a former shopping center site. Because of possible changes in the tax code, it was necessary to structure the transaction twice in order to anticipate all possible contingencies and minimize the tax obligation for the municipality’s developer.
Special Tax Counsel for Certificates of Participation
Served as Special Tax Counsel for the issuance of $64,470,000 Certificates of Participation for the construction of a jail facility for Greene County, Missouri.