Herb Stevens is a retired community development attorney and one of the nation’s foremost authorities on financing community-based projects by leveraging public programs, including tax credits, with private capital development. His previous clients included large capital markets investors, local governments and for-profit and nonprofit developers of important projects.
In his previous role as Chief Innovation Officer, he helped attorneys at Nixon Peabody develop new, more responsive legal services.
I have created new financing platforms for ground-breaking projects throughout the country in the areas of community development, historic preservation, renewable energy, affordable housing and sustainability. For example, when two important federal subsidy programs, the low-income housing tax credit and the new markets tax credit, were in their “startup” phases, I helped businesses and attorneys create the financial structures financing channels to deliver the federal benefits to local communities.
Some of my favorite projects have been working to bring new investment and new life into underserved communities. Larger projects can serve as an anchor to revitalize an entire neighborhood, such as turning a beautiful but long-vacant armory into a vibrant theater; restaurants and night life soon follow. Less glamorous but perhaps more important are projects that bring jobs, such as manufacturing, retail and charter schools.
I’ve worked on a wide variety of renewable energy projects, from nationwide residential and commercial solar to the first state-sponsored fund that put solar on homes for low and moderate income families. Now that I have retired my legal practice, as cofounder and president of New Partners Solar, I focus my efforts on creating new opportunities for affordable housing residents to participate in the benefits of solar energy using community solar laws.
How will companies and investors work with multiple government and nonprofit organizations to build new resources in local communities? The answers to that question will be the big success stories in the future for real estate development. All parties now know they need each other to accomplish this. We will keep finding unique ways for the government programs and the private sector to share in the mission to bring new energy to underserved areas.
Washington Lawyer | March 01, 2020
This in-depth profile of New Partners Community Solar features Nixon Peabody’s role in the project and quotes Washington, DC, Community Development Finance senior counsel Jeff Lesk and senior counsel Herb Stevens.
National Housing and Rehabilitation Association | July 20, 2019
This story mentions New Partners Community Solar, the nonprofit founded in 2017 by senior counsel Herb Stevens and Community Development Finance partner Jeff Lesk, both of Washington, DC. New Partners played a crucial role in the development of the city’s first affordable housing resiliency center—a suite of rooms available to all residents that provides an emergency power supply for residents to use during disasters or outages.
Solar Power World | July 10, 2018
Washington DC partner Jeff Lesk and senior counsel Herb Stevens, both of the Community Development Finance Group, are mentioned in this story after NPSolar was named Community/Shared Renewables Project of the Year by the Interstate Renewable Energy Council.
Washington Post | May 10, 2018
Nixon Peabody’s pro bono solar panel project is featured in this article. Washington DC tax credit finance and syndication partner Jeff Lesk and senior counsel Herb Stevens are quoted throughout this feature which highlights how this first-of-its-kind project benefits low-income residents in the DC community.
ABA Journal | May 10, 2018
Washington DC partner Jeff Lesk and senior counsel Herb Stevens are mentioned in this article about the NP Solar program, which uses solar panels placed atop DC-area buildings to produce electricity and cost savings for low-income residents.
Energy & Environmental News | May 10, 2018
Nixon Peabody’s pro bono solar panel project is featured in this trade publication for energy and environment professionals. Washington, DC tax credit finance and syndication senior counsel Herb Stevens is quoted and partner Jeff Lesk is mentioned.
Georgetown University Law Center, M.L.
Catholic University of America, Columbus School of Law, J.D.
Massachusetts Institute of Technology, B.S.
District of Columbia
Herbert was selected, through a peer-review survey, for inclusion in The Best Lawyers in America© 2021 in the field of Real Estate Law. Herbert has been listed in Best Lawyers since 2018.
Herb is recognized as one of the top tax lawyers in the Washington, DC, edition of Super Lawyers Magazine (2014-2016).