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 Affordable Housing
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Damon & Morey’s affordable housing practice consists principally of
representing private developers, including non-profit organizations, in
the financing, construction and rehabilitation of multi-family housing
projects for persons of low income.
The firm has handled numerous transactions involving federal low-income
housing tax credits and the syndication of those credits to interested
investors, working with representatives of the New York State Division
of Housing and Community Renewal and Housing Finance Agency, as well as
housing agencies in other jurisdictions, in order to maximize the
available resources for development of housing projects.
We have also represented issuers and borrowers in connection with
tax-exempt bonds issued for housing purposes, including those issued by
the state Housing Finance Agency and those issued by local housing and
industrial development agencies.
In addition, the financing of housing projects typically involves a
multiplicity of other sources, including conventional bank loans,
letters of credit provided by commercial banks, and loans or other
financing from the Department of Housing and Urban Development, Federal
Home Loan Banks, the New York State Housing Trust Fund Corporation and
various other public and private lenders.
We are able to draw upon a broad variety of expertise within the firm to
deal with specific issues that arise from time to time in connection
with particular projects, including attorneys who practice in the areas
of real estate law, federal taxation, construction, banking,
environmental law and securities law.
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