Housing Assistance

Hawkins Delafield & Wood LLP provides services to clients with respect to all forms of federal, state and local government housing finance and assistance. Hawkins attorneys bring the highest level of technical expertise and business experience to diverse matters involving: tax-exempt financing; low-income housing tax credits; HUD, VA and RHS (FmHA) housing subsidy, mortgage insurance and loan sale programs; Public Housing privatization and recapitalization; state and local housing trust funds, tax credits and other housing assistance; the Fannie Mae credit enhancement, mortgage-backed securities and Delegated Underwriting and Servicing programs; and military housing. We also assist clients with Congressional and agency advocacy in the areas of housing policy and taxation.

We represent clients across the full spectrum of the housing industry, with a particular emphasis on assisting government agencies. Attorneys in our housing practice have assisted the U.S. Department of Defense ("DoD") with its military housing privatization program and the Resolution Trust Corporation with its Affordable Housing Disposition Program. We represent state and local agencies in tax-exempt financing, and HUD matters.

The Firm's housing assistance practice is at the cutting edge of developments in the housing field. We assisted in structuring and obtaining HUD approval for the $291 million Chicago Housing Authority (“CHA”) Capital Program Revenue Bonds financing, which was the first publicly sold bond issue backed solely by a pledge of Public Housing program Capital Fund monies. The issue earned The Bond Buyer’s “Deal of the Year” Award in December 2002. Among other pioneering transactions, attorneys in the housing group (i) developed the first pooled state agency Capital Fund financing, (ii) closed the first HUD HOPE VI transaction, (iii) closed the first public/private low-income housing tax credit deal and the first direct syndication of these credits by a non-profit to investors, (iv) assisted in developing the legislation that became DoD’s Military Housing Privatization Initiative and in closing the Air Force’s first LLC transaction, and (v) developed Fannie Mae’s credit enhancement program for tax-exempt bonds.

Highlights of our Housing Assistance practice include the following: 

HUD-Related Housing Finance Expertise
The Firm's housing finance and state agency practice includes a unique level of expertise in HUD financing and subsidy programs. Firm partners, including a former HUD official, are familiar with such programs as Section 8, Section 236, Mark-to-Market, HOPE VI, Public Housing, HOME and the various FHA single family and multi-family mortgage insurance authorities. Hawkins attorneys have represented issuers, underwriters, credit enhancers, lenders and owners in hundreds of HUD-related financing, refinancing and refunding transactions. The Firm is regularly consulted by state housing agencies, HUD officials, and Congressional Committees with respect to these matters. Lawyers in the Firm have also represented housing authorities and underwriters in numerous public housing transactions and closed the first financings (both taxable and tax-exempt) that used Public Housing Capital Fund allocations as security.

Military Housing Expertise
The Firm has played a pioneering role in the efforts of the U.S. Department of Defense (DoD) to privatize military family housing. Beginning in early 1995, Hawkins attorneys worked with the DoD on the legislation that became the military housing privatization initiative.  The Firm has represented both DoD and the U.S. Air Force with respect to the housing privatization program generally and in individual transactions. We also have represented private market participants – investment bankers, lenders, developers, and credit enhancers – in U.S. Army, Air Force and Marine Corps transactions. In addition, Hawkins attorneys have represented lenders and developers in the financing of housing pursuant to DoD’s section 801 and 802 programs.

 

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