Low-Income Housing Tax Credit

Syndication/Low-Income Housing Tax Credits

Perhaps the single most effective financing tool for creating affordable housing in the United States today is the Low Income Housing Tax Credit (“LIHTC”).  Since its inception in 1986, the LIHTC has incentivized private equity investments generating more than 2.4 million new affordable housing units, adding approximately 120,000 more units a year.

The Blank Rome LIHTC team represents developers, investors, syndicators, lenders, and funds in quickly solving the tax and real estate issues typically confronted in affordable housing transactions involving LIHTCs. Drawing upon decades of experience handling these matters, we have the knowledge and ability to effectively structure all aspects of LIHTC transactions, including establishing investment funds on the equity financing side of the project and advising clients with respect to ongoing asset management and workout issues post-closing. We also understand the efficiencies achieved through managing negotiations and quickly moving to funding, and work hard to swiftly drive these transactions to closing.

Our LIHTC team:

  • provides comprehensive advice to investment funds, syndicators, and direct corporate investors on all deal structure, business, tax, and real estate aspects of the transaction;
  • prepares the organizational documents for the limited partnership, joint venture, or limited liability project owner;
  • assists clients in the application process, construction, investment, and agreement drafting, as well as with negotiating the terms of financing and partnership agreements;
  • negotiates, structures, documents, and closes LIHTC transactions, often combining federal LIHTCs with other tax incentives, including renewable energy credits and historic rehabilitation tax credits; and
  • advises clients on compliance and asset management issues, including management of troubled or distressed LIHTC projects.

Experienced Attorneys, Recognized in Their Field

Blank Rome’s low-income housing tax credit practice is comprised on creative lawyers, who have experience as CPAs and as state and federal governmental officials. As a result, we analyze our clients’ issues from a variety of perspectives to deliver value.