I assist developers, nonprofits, and housing authorities on projects involving low-income housing tax credits, tax-exempt bond financing, public housing funding, Section 8 assistance, and other funding sources.
As the need for affordable housing continues to grow across the country and more government incentive programs are created to help promote the creation of these housing projects, I anticipate a greater need for clarification on the application of certain provisions of Section 42 of the IRS Tax Code, as well as an influx of aggregator-related issues. We have seen some of these “Year 15 Exit” disputes play out in our court system over the last few years. Recently, for example, the courts have been deciding on the issue of interpreting the Section 42 “right of first refusal” requirements in the context of a “Year 15 Exit” and whether the common law definition should be applied or whether an affordable-housing-specific interpretation of the requirements for the “right of first refusal” ought to apply. Language that has long been enumerated in the Tax Code will continue be reevaluated in the new and modern landscape of affordable housing development; we will be on the forefront of these issues, ready to advise our affordable housing clients.
U.S. District Court, District of New Hampshire
University of Maryland, B.A.
University of New Hampshire Franklin Pierce School of Law, J.D.
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