Real Estate: Affordable Housing

Affordable housing issues can be an important concern for those involved in the financing, purchase, development, use and sale of residential and mixed-use real estate.

To do affordable housing right, you need a legal team with broad and deep experience within the real estate industry—a legal team that knows the law and knows your business. At McDonough Holland & Allen PC, we can be your sole legal source for advice, planning, transactions and disputes involving affordable housing.

An increasing number of California communities now require that residential projects include an affordable housing component, either through redevelopment programs or inclusionary housing ordinances. Such ordinances often mandate that affordable housing be provided on-site, that land be dedicated for affordable housing or that developers pay in-lieu fees.

To help developers satisfy these requirements, there are a variety of government-assisted housing and community development programs that offer tax credits and other incentives that make the inclusion of affordable housing a good business choice for a particular new construction or rehabilitation project.

These include (but are not limited to):

Tax credits, including low-income housing tax credits (LIHTC) and historic rehabilitation tax credits;
Tax-exempt bonds; and
The HOME Investment Partnership Program, Community Development Block Grant Program (CDBG), the Multi-Family Housing Program (MHP), California Housing Finance Agency (CalHFA), community redevelopment agency Low and Moderate-Income Housing Funds and Affordable Housing Program (AHP) loan and grant funds.

Our clients are individuals, public and private companies, and government agencies. They are owners, operators, investors, lenders, insurers, developers and builders who are involved in the affordable housing aspect of residential and mixed-use real estate.

When it comes to affordable housing–whether advice, planning, transactions or dispute resolution–the real estate lawyers at McDonough Holland & Allen PC will do what it takes to help you “Do it right."

For additional information on this subject, please see the Affordable Housing page within the Public Law section of this web site.

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