Andrew P. Rubin

/My focus

As a tax attorney focused on development projects, I believe it is important to always have the right tools. My toolbox includes federal tax credits (NMTC, LIHTC, ITC, PTC), tax-exempt bonds, state and local tax incentives, public-private partnerships (P3), and government loan guarantees (BIA, HUD, USDA) that can be used to fund energy projects, infrastructure, affordable housing, and nonprofit services.

I guide clients from term sheet to closing on multi-layered capital stacks that pair federal tax credits with state and local incentives, helping unlock capital for projects that fuel job creation, affordable housing, energy production, and main-street revitalization.

Renewable Energy Tax Credit Finance

I counsel developers and tax equity investors on federal investment tax credits and production tax credits, including transferability and direct pay elections, foreign entity of concern restrictions, recapture risk, prevailing wage and apprenticeship compliance, and domestic content and energy community enhancements. I structure joint ventures, tax equity partnerships, and portfolio acquisitions for solar, wind, battery electric storage systems, and other energy assets.

AFFORDABLE HOUSING, COMMUNITY DEVELOPMENT, NONPROFIT, AND TRIBAL FINANCE

I represent investors, lenders (including CDEs and Native CDFIs), nonprofit organizations, and developers in new market tax credit and low-income housing tax credit transactions financing community facilities, affordable housing, commercial and mixed-use projects, and essential services in underserved areas. I also help clients navigate tax-increment financing (TIF) and government loan and grant programs, including the Community Development Block Grant (CDBG).

A highlight of my practice is supporting community health clinics, workforce development, and economic development projects in Indian Country, including projects financed with NMTCs and federal loan guarantees from Bureau of Indian Affairs, Housing and Urban Development, and U.S. Department of Agriculture . My experience includes structuring transactions to navigate sovereign immunity and tribal law considerations.

Public Finance

I serve as bond counsel, tax counsel, and underwriter’s counsel in public finance transactions with state and local governments and 501(c)(3) nonprofits.

State and Local Tax

I maintain a robust state and local tax practice, helping clients manage multistate tax exposure and secure state and local incentives, including tax-increment financing (TIF).

/Representative experience

• Tax counsel in connection with New Markets Tax Credit, Low-Income Housing Tax Credit, Renewable Energy Tax Credit, and Historic Tax Credit transactions totaling over $1,500,000,000
• Counsel to Native CDFI lenders in connection with BIA-guaranteed, USDA-guaranteed, and HUD-guaranteed tribal loans totaling over $200,000,000
• Bond Counsel and Tax Counsel in connection with bond issuances by states, counties, and cities totaling over $3,216,000,000
• Bond Counsel and Tax Counsel in connection with bond issuances for development projects by conduit issuers, special districts, urban renewal authorities, and industrial development authorities totaling over $2,465,000,000

* The representative work listed above reflects experience from prior firms.

/Looking ahead

Many nonprofits recognize that their missions cannot be achieved in a vacuum. They need to expand beyond their core missions or establish strategic partnerships to provide wraparound services, such as community centers that feature workforce housing, health clinics, and access to healthy foods.  Funding these activities requires careful balancing of a variety of funding sources.

/Insights

• Panelist, “Arbitrage & Rebate: Real World Examples,” The Essentials 2026: National Association of Bond Lawyers (NABL), April 9, 2026
• Panelist, “Leases & Non-Traditional Financings,” The Essentials 2026: National Association of Bond Lawyers (NABL), April 9, 2026
• Presenter, “Taxing the Toolbox: Development Tax Incentives in the OBBBA and Beyond,” Colorado Bar Association Tax Section, November 12, 2025
• Panelist, “Tax Credit Finance: What Every Bond Lawyer needs to know about NMTCs,” National Association of Bond Lawyers (NABL) Annual Workshop, September 11, 2025
• Presenter, “2025 Legislative Update,” Colorado Bar Association, June 11, 2025
• Presenter, “Tying it All Together,” The Essentials 2025: National Association of Bond Lawyers (NABL), May 16, 2025
• Presenter, “Leases and Other Alternative Financing Structures,” The Essentials 2025: National Association of Bond Lawyers (NABL), May 15, 2025
• Presenter, “How Small CDFIs Can Leverage New Markets Tax Credits for Bigger Impacts,” Oweesta Capital Access Convening, May 14, 2025
• Presenter, “Bonds for Low-Income and Middle-Income Housing,” American Bar Association Tax Section May Meeting, May 9, 2025
• Presenter, “Public Power and Energy Credits in 2025,” American Bar Association Tax Section May Meeting, May 9, 2025
• Presenter, “Using Tax-exempt Bonds with Housing Tax Credits,” IPED’s Learn the Basics: Housing Tax Credits 101, March 13, 2025
• Presenter, “Tax-Exempt Bonds for 501(c)(3) Attorneys,” American Bar Association Tax Section - 2025 Mid Year Tax Meeting, February 20, 2025
• Panelist, “Financing Your Dream Shelter, Housing and Community Facility,” National Women's Shelter Network 2025 Annual Conference, January 29, 2025
• Presenter, “Tax Credit Finance – What Every Bond Lawyer Needs to Know About NMTCs and More,” The Workshop 2024—National Association of Bond Lawyers (NABL), September 18, 2024
• Presenter, “Finding the Money – Strategic Financing by Layering Public and Private Resources and Weaving in GGRF Resources,” National Tribal Housing Ecosystem, August 28, 2024
• Presenter, “Arbitrage & Rebate: Real World Examples,” National Association of Bond Lawyers, April 12, 2024
• Presenter, “Leases & Non-Traditional Financings,” National Association of Bond Lawyers, April 11, 2024
• Presenter, “Arbitrage & Rebate (Basics),” National Association of Bond Lawyers, April 11, 2024
• Presenter, “Hot to Form a Legal 501(c)(3),” Harvard Innovation Labs, March 26, 2024
• Presenter, “Unrelated Trade or Business Activities of 50(c)(3) Borrowers,” American Bar Association, January 19, 2024
• Presenter, “Financing Nonprofit Organizations,” Colorado Bar Association 32nd Annual Institute on Advising Nonprofit Organizations in Colorado, November 10, 2023
• Presenter, “Completing the Capital Stack in a Challenging Era Using Tax Credits,” Colorado Bar Association, February 8, 2023
• Presenter, “New Markets Tax Credit Workshop for Capital Projects in the Tampa Area,” April 13, 2022
• Presenter, “Rebuilding Community Through Tax Policy,” Tax Forward Conference, November 6, 2020
• Editor, “Fundamentals of Municipal Bond Law,” National Association of Bond Lawyers, 2020–2024