CHW represents clients in transactions involving local, state and federal regulatory and funding agencies, as well as in the syndication of various state and federal tax credits.
Cannon Heyman & Weiss, LLP has both a breadth and depth understanding of the complex legal issues involved in our clients’ projects across the entire United States and we work to structure each transaction for the best overall result.
Affordable Housing & Community Development
CHW represents for-profit and non-profit developers, lenders, syndicators and local housing authorities in creative financing transactions in affordable housing and community development. We regularly work in the following areas:
- LIHTC and state housing tax credit syndication and direct placement transactions
- Industrial development revenue bonds
- Taxable and tax-exempt private activity bonds for multi-family housing and community development transactions
- Ground and space leases
- Property tax exemptions and PILOT agreements
- Conventional and subsidized construction and permanent mortgage loans from private sector and governmental sources
- Forms of credit enhancement including letters of credit
- Interest rate protection including CAPS, collars and swaps
CHW’s historic preservation clients include developers, syndicators, lenders and investors and representative transactions range from office buildings to arts centers to entertainment venues. We help clients determine their eligibility for tax credits and coordinate with lenders, investors, and syndication and direct placement of both state and federal Historic Tax Credits. We also counsel clients on how to combine and syndicate tax credits for the best overall result.
New Markets Tax Credits
CHW represents clients in New Markets Tax Credit (NMTC) transactions including community development entities, QALICBs, investors, and lenders. As with our other areas of concentration, we also offer counsel on how to best combine various tax credit programs to gain the full benefit of this federal program.
New York Practice
While our federal practice has taken us to many places across the country, CHW has a solid understanding of the myriad of complex legal issues that are often involved in housing and community development matters in New York. Our experience includes how to handle permitting; land use matters including zoning, site plan approval, special permits and subdivisions: and environmental matters. We are fully familiar with SEQRA, CEQR and other environmental and planning processes that must be completed in the development of any public or private project.
We have used CHW as counsel on many large and complicated real estate transactions over the last several years. The firm’s knowledge, expertise and attention to detail have made them one of the pre-eminent affordable housing law practices in New York State. Just as important is their ongoing commitment to diversity and equality as core values in the operation of the firm.