Jeff Sacks is a leading community development attorney. His clients include large community development corporations, senior housing providers and housing authorities as well as a variety of large institutional service providers. He often represents nonprofit organizations that are embarking on major real estate projects to allow them to deliver their services in new and innovative ways.
What do you focus on?
Low-income housing tax credits and historic rehabilitation tax credits
I assist my clients in using federal low-income housing and historic tax credits to develop affordable housing and mixed-use developments. Given the multiple funding sources necessary to complete any project today including federal resources from HUD as well as state and local funds, I work with our developer clients to assure that all of these funders work together to allow for the successful completion of these projects with the most efficient deal structure.
New markets tax credits
Some of my largest and most complex projects have involved substantial investments in very poor communities utilizing the new markets tax credit program. These projects, which have included major new urban medical centers, a supercomputing project as well as smaller educational facilities, can be the catalyst for additional neighborhood investment and substantial job creation.
I have worked with a range of public housing authorities in the transformation of some of the most outdated public housing projects in the Commonwealth into new and vital communities that continue to serve their low-income residents. I have been a public housing authority commissioner for more than twenty years and recently I have devoted significant efforts to the modernization and reform of the Commonwealth’s public housing system.
Much of my work involves advising nonprofit boards of directors about the most efficient and effective legal and financial approaches to fulfilling their corporate missions. A central part of my work is framing the legal options and documentation to boards of directors.
I served as the first chair of the Newton Community Preservation Committee and have worked with that program for more than ten years. This unique state and local partnership provides funding exclusively for community housing, open space preservation, historic preservation and recreation facilities in cities and towns across the Commonwealth.
What do you see on the horizon?
I am working on new types of joint ventures among nonprofit organizations and governmental agencies to improve the delivery of housing and other community services. In a period of dwindling direct government support for community development activities, consolidation of services and the creation of new service delivery models are crucial with organizations working together in new ways.