Low-Income Tax Credit Deal for Knoxville Client

We assisted Knoxville’s Community Development Corporation (KCDC) with a major modernization program of its public housing projects. This program involved the conversion of many of KCDC’s housing units to a more market-based rental approach under HUD. As part of the project, we assisted KCDC in closing the financing of a new senior housing project in the Five Points area of Knoxville. This project used 9% low-income housing federal tax credits as the primary funding source. We also assisted KCDC in the conversion of two other housing complexes in Knox County.