KBB actively and integrally participates as special counsel in a number of housing development transactions for its municipal and public housing agency and authority clients. This participation involves all aspects of market-rate and affordable housing finance and development and includes the following activities:
- acquisition and disposition of both private and public real property for the development of both affordable housing and market-rate housing units;
- use of former redevelopment agency housing funds by municipal housing agencies and authorities for new construction and rehabilitation of multi-family and single-family housing units;
- preparation and review of disposition and development agreements, ground leases, loan agreements, grant deeds, affordable housing restrictive covenants, promissory notes, deeds of trust and other instruments used in housing financing and development transactions; and
- review and preparation of transactional documentation utilized for various public financing vehicles such as United Stated Department of Housing and Urban Development HOME funds, Federal and State tax credit and tax-exempt bond financing, as well as other public and private sources of funding required for affordable housing transactions.