Tax credit finance and affordable housing

Porter Wright offers clients comprehensive, results-oriented representation in tax credit transactions, tax credit-based financing and affordable housing. We represent syndicators, lenders, developers and investors with tax credit planning and implementation in all phases of tax credit projects to help our clients achieve the most efficient tax and economic structure.

Tax credit financing

  • Federal and state low-income housing tax credits
    For over 30 years, Porter Wright has represented syndicators, lenders, developers and investors in the financing, development, acquisition and ownership of low-income housing tax credit properties. We have provided legal counsel to for-profit and not-for-profit developers in more than 200 projects supported by low-income housing tax credits. Our attorneys have submitted amicus briefs in several pivotal Ohio Supreme Court cases relating to property tax assessments on low-income housing properties, which has helped clients obtain lower valuation determinations for their properties.
     
  • Federal and state historic rehabilitation tax credits
    We assist clients regarding federal and state historic rehabilitation projects, including many that combine historic tax credits with new markets and low-income housing tax credits. We have represented syndicators, lenders, developers and investors in dozens of historic tax credit transactions throughout Ohio and across the nation.
     
  • New markets tax credits
    Porter Wright works with lenders, investors and developers to structure new markets tax credit transactions and implement all aspects of the structure, including the negotiation of documentation related to the loans, equity investments and real estate concerns. We also are experienced with unwinding such structures. 
     
  • Renewable energy tax credits
    We help clients identify the multitude of federal and state programs that yield tax credits, grants and other tax savings for their “green” efforts, and work with them to determine what renewable energy opportunities yield the greatest return on investment. With a LEED Accredited Professional among our attorneys, we are equipped to help clients leverage this growing area.

Affordable housing
In nearly every community, there is a high demand for quality, reasonably-priced housing, including senior care facilities. We assist with ongoing housing law compliance, handling matters involving capital formation (from construction and permanent financing to bridge loans and refinancing), corporate governance and the full range of real estate transactions. Our team works with clients on land acquisition and development for single-family homes, apartment developments and senior homes, including loan documentation for construction, interim and permanent financing, and agreements between owners, architects and contractors.

We consider each project with an understanding that varying stakeholders bring competing perspectives and the interests of investors or developers may vary greatly from the community’s need. Our attorneys work with clients to present the optimal opportunity and advocate for bridging the public and private sectors with these differing perspectives in mind. Our team leverages extensive experience with Ohio landlord and tenant law, employment/labor law, development and construction law, and environmental considerations.

In the process, we work closely with the United States Department of Housing and Urban Development (HUD), the Ohio Housing Finance Agency, the City of Columbus Trade and Development Department, the Franklin County Department of Development and other governmental entities.

  • HUD/Fair Housing
    Our experience in fair housing allows us to meet the needs of specialty housing providers such as HUD-assisted senior communities, congregate care retirement communities and housing designed for the disabled. We advise builders and architects on local, state and federal accessibility design standards. In addition, we represent clients before state civil rights agencies, HUD Fair Housing & Enforcement Division, and state and federal courts against complaints and charges raising issues of discrimination, reasonable accommodation and design standards.