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High Point, Seattle Washington
Seattle Housing Authority HOPE VI
High Point HOPE VI, Seattle Housing Authority

The Firm represents clients in the development of affordable housing financed with Low-Income Housing Tax Credit equity combined with HUD HOPE VI financing, variable and fixed-rate tax-exempt bond proceeds, Federal Home Loan Bank, Community Development Block Grant, HOME funds and other federal, state, local and conventional sources of financing.

The Firm provides the following services:

  • Advise regarding tax credit applications
  • Advise regarding transaction structure and federal tax matters
  • Formation of entities
  • Review and negotiate equity and debt commitment letters and agreements
  • Draft and negotiate HUD documents in HOPE VI transactions
  • Obtain HUD approval to HOPE VI financing documents
  • Issue tax and legal opinions
  • Close the deal
  • Implement exit strategies for Year 15

Representative transactions include:

  • High Point Phase I (photo above) developed by the Seattle Housing Authority consists of 344 units of residential rental housing for low-income individuals and families financed with HUD HOPE VI and Move-to-Work funds, variable and fixed-rate tax-exempt bonds, State Housing Trust fund monies, tax credit equity and housing authority funds. The goals of the redevelopment are to develop a mixed-income community enhanced by public amenities, provide quality housing, safe streets, and an environmentally sustainable infrastructure.
  • Development of agricultural farmworker housing in Eastern Washington

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