Our attorneys are at the forefront of innovative, public-private partnership efforts to provide financing solutions to incentivize affordable housing projects in Tennessee. We represent private developers and public housing authorities (PHAs) in projects that utilize Low-Income Housing Tax Credits (LIHTC); tax exempt housing bonds; loans subsidized by Community Investment Tax Credits (CITC) authorized by the state of Tennessee and various FHA-insured products, including Fannie Mae's Reduced Occupancy Affordable Rehab (ROAR) and HUD 221(d)(4) loans.
As the U.S. Department of Housing and Urban Development's Rental Assistance Demonstration program (RAD) continues to gain traction in addressing the estimated $26 billion nationwide backlog of deferred public housing property maintenance, we are actively assisting PHAs as they leverage this tool to preserve and improve public housing properties in Tennessee. We help PHAs through the application process and in the conversion of units to project-based Section 8 contracts. We also routinely facilitate payment in lieu of tax transactions (PILOTs) to support development of affordable housing.
Our strength is rooted in experience. Regardless what direction new tax policy takes, Bass, Berry & Sims will be positioned to offer the highest level of strategic advice to clients in affordable housing.