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Richard S. Goldstein



Rick Goldstein has been deeply involved in the low-income housing tax credit since its enactment in 1986 and is a national authority on that program. Rick represents syndicators, investors, developers and other participants in transactions involving the housing tax credit. His leadership in the affordable housing industry was recently recognized by Affordable Housing Finance Magazine, which named Rick to its Affordable Housing Hall of Fame in 2014.

Rick focuses his practice in two areas: transactions and public policy, both with the low-income housing tax credit in common. This unique combination has direct benefits to the firm’s clients. Rick can counsel clients on detailed and complex transactional matters, and can also advise them on how public policy affects current and future business matters.

What do you focus on?

Transactional

On the transactional side, I have been representing syndicators, investors and developers in housing tax credit deals since 1987, including acquisitions of project partnerships, dispositions and “upper tier work.” With my breadth of experience, I generally focus on more complex transactions. For example, I recently closed two master lease transactions allowing for separate ownership of market rate and low-income units on behalf of PNC Bank. Representing CREA LLC, I recently closed an urban new construction transaction and a rural rehabilitation deal, each of which involved complex business and tax issues.

Public policy

My lobbying involved, for almost 30 years, representing the Affordable Housing Tax Credit Coalition, a major Washington DC trade association in the housing credit industry. My transactional experience gives me exceptional credibility in advocating for the housing tax credit from the perspective of a professional in the field. I have developed deep relationships with a number of members of Congress, including those in leadership positions.

What do you see on the horizon?

Congress recently passed comprehensive tax reform, the effects of which are still being analyzed, but it did continue the housing credit and housing bonds without any change. Congress is considering legislation that, if enacted, would expand and improve upon the housing credit. Despite the industry’s success in maintaining the housing credit and housing bonds, no one should be complacent about continued support for these critical programs. Industry participants need to continue to educate members of Congress on the importance and success of these affordable housing tools.

Senate passes tax bill as housing advocates work to preserve bonds

Affordable Housing Finance | December 04, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein is quoted in this article on the differences between the Senate and House tax bills in their impact on affordable housing in the U.S.

How tax reform could devastate the affordable housing market

National Mortgage News | December 01, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein is quoted this article on how the tax reform plan would impact affordable housing in the U.S.

House passes tax reform bill; Senate Finance Committee sends bill to floor

Affordable Housing Finance | November 17, 2017

This article covers Affordable Housing Finance’s recent annual AHF Live: The Affordable Housing Developers Summit in Chicago and quotes Washington, DC tax credit finance and syndication partner Rick Goldstein discussing the proposed tax reform bill.

How tax reform could devastate the affordable housing market

American Banker | November 15, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein provides commentary about private activity bonds in the following coverage about how the proposed tax reform bill will impact affordable housing.

Squawk on the Street

CNBC | November 14, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein provides commentary about private activity bonds in the following coverage about how the proposed tax reform bill will impact affordable housing.

Nightly Business Report

PBS | November 14, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein provides commentary about private activity bonds in the following coverage about how the proposed tax reform bill will impact affordable housing.

The good and bad news about the GOP tax plan

The Real Deal | November 03, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein is quoted in this article discussing how the GOP’s proposed tax reform plan will affect affordable housing.

Republican tax plan would decimate affordable housing in New York, advocates and city officials warn

POLITICO New York | November 03, 2017

Washington DC tax credit finance and syndication partner Rick Goldstein is quoted in this article about the impact of the House Tax Reform Bill on affordable housing.

City Securities' lesser-known sibling sells

Indianapolis Business Journal | July 02, 2016

Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein is quoted in this article discussing the sale of client, CREA, and how industry supply and demand is driving interest.

Contact

Richard S. Goldstein

Senior Counsel

Washington, DC

Phone: 202-585-8730


Fax: 202-585-8080

Boston College Law School, J.D.

State University of New York at Buffalo, B.A.

District of Columbia

Richard was selected by his peers for inclusion in The Best Lawyers in America© 2019 in the field of Real Estate Law. Richard has been listed in Best Lawyers since 2018.

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