Robinson Cole LLP
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Affordable Housing

Capital Stack


Our attorneys translate project plans and negotiated deal terms into financing documents that integrate tax-exempt bonds, 9% or 4% LIHTC equity, senior and subordinate debt, rental and mortgage subsidies, soft financing, grants, credit enhancements, reserves, deferred developer fees, and related regulatory requirements. This work involves coordinating sources and uses, eligible-basis and operating assumptions, rents, debt capacity, subsidy commitments, timing and equity installment conditions, and affordability restrictions so the project is positioned to close on construction financing and proceed to implementation.

We coordinate the financing parties and documentation streams so that bonds, loan, tax, real estate, disclosure, public approval, investor, and affordability requirements work together. We manage closing requirements across the transaction and help position the project for eventual construction-to-permanent conversion.