Low Income Housing Tax Credit

Overview

"Every individual I have met at Blank Rome is impressive. They are strong in all areas. They are my first choice as counsel and will remain so.”

— Client feedback, Chambers USA

Perhaps the single most effective financing tool for creating affordable housing in the United States today is the Low Income Housing Tax Credit (“LIHTC”). From its beginning, 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.

Whether you are an investor, syndicator, lender, or fund, Blank Rome’s tax attorneys can advise you on tax and real estate issues typically encountered in affordable housing transactions. Drawing upon decades of experience, we have the knowledge to effectively structure all aspects of your LIHTC transactions, including establishing investment funds on the equity financing side and advising clients with respect to ongoing asset management and workout issues post-closing. Further, we understand the efficiencies achieved through managing negotiations and quickly moving to funding, and our team can swiftly close these transactions.

How We Can Help

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

What Sets Us Apart

  • Members of Blank Rome’s tax team are frequently invited to write and speak on tax and real estate issues at conferences such as the Novogradac Annual New Markets Tax Credit Conferences and CohnReznick’s Annual New Markets Tax Credit Summit and Conferences. 
  • Several attorneys serve as adjunct professors or lecturers at the Graduate Tax Program (LL.M.) of Georgetown University Law Center, George Washington University Law School, and the Real Estate Institute at Temple University.
  • The team is composed of CPAs and former state and federal government officials.
  • Members of Blank Rome’s LIHTC team have published several books and articles on tax credits.