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 Post | May 11, 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 11, 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 11, 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.
Sol Systems | September 22, 2017
This article is about a partnership between Sol Systems and New Partners Community Solar Corp., a nonprofit founded by Washington DC tax credit finance and syndication partners Jeff Lesk and Herb Stevens, to monetize solar renewable energy credits from the community solar project in DC.
The National Law Journal | August 27, 2017
This article features the Washington, DC office’s solar program and mentions partners Jeff Lesk and Herb Stevens, who manage grants for the firm’s nonprofit New Partners Community Solar Corp.
Earthtalk | March 20, 2017
Chief Innovation Officer Herb Stevens is quoted in this story discussing how the firm helped implement the community solar project as part of the Clean Energy DC plan, which aims to cut greenhouse-gas emissions and energy use in half by 2032.
NBC4 Washington | March 15, 2017
Washington DC office managing partner Jeff Lesk and chief innovation officer Herb Stevens were interviewed in this broadcast news segment about a green bank that could be created to help finance environmentally friendly projects similar to the solar panels installed on our DC office building.
Tax Credit Advisor | March 01, 2017
Washington, DC office managing partner Jeff Lesk and chief innovation officer Herb Stevens are featured in this article about the Washington, DC office’s Community Solar project.
Law360 | October 06, 2015
Partner and leader of the firm’s Nonprofit Organizations practice Mike Cooney and partner and Chief Innovation Officer Herb Stevens authored this piece discussing recent developments in the area known as “mission” or “impact investing”—terms used to describe the deployment of philanthropic investment capital to advance charitable ends.
Tax Credit Finance & Syndication Alert | 12.18.15
Nonprofit Organizations Alert | 10.01.15
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
Herb was selected by his peers for inclusion in The Best Lawyers in America© 2018 in the field of Real Estate Law.
Herb is recognized as one of the top tax lawyers in the Washington, DC, edition of Super Lawyers Magazine (2014-2016).