We represented Knoxville’s Community Development Corporation (KCDC) in connection with the RAD conversation of three large housing projects – one of Tennessee’s largest RAD transactions to date. Our work involved serving as bond counsel in connection with the issuance of three series of tax-exempt bonds, borrower’s counsel in connection with three loans from Fannie Mae, tax credit counsel to the new owners of the project (which are controlled by KCDC) and handling all tax abatement documents.
RAD Program Conversion for Three Large Housing Projects in Knoxville
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Represented Southern Properties, Inc. in obtaining approval for up to $96.4 million in tax increment financing (TIF)
Represented the Poplar Corridor Business District Association of Owners in obtaining approval for use of tax increment financing (TIF) funds estimated to exceed $80 million
Served as co-disclosure counsel to the City of Memphis in the offering of approximately $70 million in sewer bonds