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.
District of Columbia
Catholic University of America, Columbus School of Law, J.D.
Georgetown University Law Center, M.L.
Massachusetts Institute of Technology, B.S.
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).
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