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Affordable Housing

Financing


As ownership structures, interparty agreements, and capital-stack components take shape, project participants simultaneously work to secure and coordinate the financing needed to bring the development to fruition. Robinson+Cole helps clients navigate the complex funding landscape that supports affordable housing projects, including public and private debt, tax-exempt bonds, tax-credit equity, grants, subsidies, and other financing sources.

While deal structuring, investor negotiations, and project planning often continue throughout the development process, affordable housing projects ultimately depend on successfully securing, coordinating, and deploying the capital needed to move from planning to construction. At this stage, developers, lenders, tax credit investors, housing finance agencies, bond issuers, and public agencies work together to satisfy closing requirements, fund commitments, and establish the mechanisms that support project implementation.

Robinson+Cole helps clients navigate the complex funding process associated with affordable housing transactions. Our team coordinates the legal, financing, regulatory, and closing requirements necessary to bring together tax-credit equity, tax-exempt bonds, senior and subordinate debt, grants, subsidies, bridge financing, and other public and private funding sources. We regularly assist in the structuring and documentation of multifamily financings involving bond issuers, housing finance agencies, institutional lenders, community development financial institutions (CDFIs), Fannie Mae and Freddie Mac lending programs, investors, developers, and public agencies.

Our work with nonprofit loan funds and CDFIs also includes solar and other climate lending programs serving low-income and disadvantaged communities. We advise on program design and implementation, analyze program requirements, and draft and update loan and transaction documents to incorporate applicable funding terms. Our experience includes Greenhouse Gas Reduction Fund (GGRF) programs, including the development of loan document forms and riders and advice on regulatory compliance and scalability.

By aligning the requirements of numerous funding participants and capital sources, we help clients create durable capital stacks that support project development, construction, long-term affordability, and operational success.