Acquisition of Tax Credit Limited Partnership Interests by an Affiliate of General Partner
Represented general partner of multiple low-income housing tax credit supported apartment projects which have completed the tax credit and compliance periods which desire to acquire the interest of the limited partner in a manner which would facilitate future redevelopment of the properties. Develop structures that permit parties to obtain acquisition credits, consider various valuation issues, negotiate terms of exit for the limited partners, obtain private letter rulings, analyze tax liabilities, consider impact on upper tier investors, and negotiate contract terms.
Obtain Authorization for Bank to Invest in Work Opportunity Tax Credits
Obtained authorization from the Board of Governors of the Federal Reserve System for banks to utilize work opportunity tax credits by investing in employee leasing firms which target nonprofit and governmental clients. Obtained similar authorization under Alabama banking law.
$55 Million Variable Rate Demand Revenue Bonds
Represented letter of credit bank in the issuance of $55 million in variable rate demand revenue bonds for the refinancing of eight separate assisted living facilities.
Acquisition of Bank Holding Company
Represented broker-dealer in the acquisition of a bank holding company and its FDIC regulated bank, and application to the Federal Reserve for “financial holding company” status.
Bank Holding Company Loans
Represented lender in various loans to bank holding companies with bank stock as collateral.
Bond Remarketing and Restructuring Transactions
Represented letter of credit banks in remarketing strategies, work-outs and restructuring transactions for tendered bearable rate demand bonds.
Change of Control Application
Represented individual with application to the Federal Reserve Board for change of control of a regulated financial institution.
Credit Facility to Broadcasting Company
Represented lender in a revolving line of credit to a broadcasting company secured by FCC licenses.
Dodd-Frank Wall Street Reform and Consumer Protection Act
Advised mortgage servicing company on the implications of Dodd-Frank reforms in the context of a proposed settlement with 50 state attorney generals.
Equity Investment Construction and Permanent Loan to Rustwood Associates, Ltd.
Represented lender in the equity investment and credit facility for a low income housing tax credit supported acquisition rehabilitation transaction involving the United States Department of Agriculture – Rural Development Financing.
Extension of $70 million credit facility
Represented lender in the extension of a $70 million credit facility including a revolving line, letters of credit, term loans, and capital expenditure loans, to a multi-national borrower with collateral in five countries.
General corporate matters for non-profit corporation
Represent non-profit housing assistance corporation with general corporate matters.
General Corporate Matters for Nonprofit Corporation
Represented a nonprofit housing assistance corporation with general corporate matters.
Loan Portfolio Work-Out
Assisted lender in the work-out of over $200 million in credit to a developer over eight separate properties.
Low Income Housing Tax Credit Applications
Represented various developers with entity formation, corporate authorizations and preparation of low income housing tax credit applications to the Alabama Housing Finance Authority.
Merger of FDIC Regulated Banking Institutions
Represented bank holding company in the merger of two banking subsidiaries regulated by the Federal Deposit Insurance Corporation.
Representation of General Partner of Low Income Housing Tax Credit Partnerships and Sale of Interests to a Third Party
Represented the general partner of tax credit partnerships which have completed compliance period in sale of those general partner interests to third parties. Analyzed tax implication on seller based on capital accounts and other factors. Provided detailed transitional provisions regarding management and reporting.
Sale of Southwest Bank of Alabama
Represented bank holding company in the sale of the bank and compliance with reporting requirements of the Bank Holding Company Act and the regulations of the Federal Reserve Board.
Sale of Troubled Loan Portfolio
Assisted lender with the sale of over $200 million in troubled loans.
Tax Credit Syndication
Represented bank in the syndication of tax credits to low income housing tax credit investors.
Work-Out of Troubled Low Income Housing Tax Credit Projects
Restructuring of debt and equity documents among numerous low income housing tax credit projects.
Acquisition of Tax Credit Limited Partnership Interests by an Affiliate of General Partner Represented general partner of multiple low-income housing tax credit supported apartment projects which have completed the tax credit and compliance periods which desire to acquire the interest of the limited partner in a manner which would facilitate future redevelopment of the properties. Develop structures that permit parties to obtain acquisition credits, consider various valuation issues, negotiate terms of exit for the limited partners, obtain private letter rulings, analyze tax liabilities, consider impact on upper tier investors, and negotiate contract terms. Obtain Authorization for Bank to Invest in Work Opportunity Tax Credits Obtained authorization from the Board of Governors of the Federal Reserve System for banks to utilize work opportunity tax credits by investing in employee leasing firms which target nonprofit and governmental clients. Obtained similar authorization under Alabama banking law. $55 Million Variable Rate Demand Revenue Bonds Represented letter of credit bank in the issuance of $55 million in variable rate demand revenue bonds for the refinancing of eight separate assisted living facilities. Acquisition of Bank Holding Company Represented broker-dealer in the acquisition of a bank holding company and its FDIC regulated bank, and application to the Federal Reserve for “financial holding company” status. Bank Holding Company Loans Represented lender in various loans to bank holding companies with bank stock as collateral. Bond Remarketing and Restructuring Transactions Represented letter of credit banks in remarketing strategies, work-outs and restructuring transactions for tendered bearable rate demand bonds. Change of Control Application Represented individual with application to the Federal Reserve Board for change of control of a regulated financial institution. Credit Facility to Broadcasting Company Represented lender in a revolving line of credit to a broadcasting company secured by FCC licenses. Dodd-Frank Wall Street Reform and Consumer Protection Act Advised mortgage servicing company on the implications of Dodd-Frank reforms in the context of a proposed settlement with 50 state attorney generals. Equity Investment Construction and Permanent Loan to Rustwood Associates, Ltd. Represented lender in the equity investment and credit facility for a low income housing tax credit supported acquisition rehabilitation transaction involving the United States Department of Agriculture – Rural Development Financing. Extension of $70 million credit facility Represented lender in the extension of a $70 million credit facility including a revolving line, letters of credit, term loans, and capital expenditure loans, to a multi-national borrower with collateral in five countries. General corporate matters for non-profit corporation Represent non-profit housing assistance corporation with general corporate matters. General Corporate Matters for Nonprofit Corporation Represented a nonprofit housing assistance corporation with general corporate matters. Loan Portfolio Work-Out Assisted lender in the work-out of over $200 million in credit to a developer over eight separate properties. Low Income Housing Tax Credit Applications Represented various developers with entity formation, corporate authorizations and preparation of low income housing tax credit applications to the Alabama Housing Finance Authority. Merger of FDIC Regulated Banking Institutions Represented bank holding company in the merger of two banking subsidiaries regulated by the Federal Deposit Insurance Corporation. Representation of General Partner of Low Income Housing Tax Credit Partnerships and Sale of Interests to a Third Party Represented the general partner of tax credit partnerships which have completed compliance period in sale of those general partner interests to third parties. Analyzed tax implication on seller based on capital accounts and other factors. Provided detailed transitional provisions regarding management and reporting. Sale of Southwest Bank of Alabama Represented bank holding company in the sale of the bank and compliance with reporting requirements of the Bank Holding Company Act and the regulations of the Federal Reserve Board. Sale of Troubled Loan Portfolio Assisted lender with the sale of over $200 million in troubled loans. Tax Credit Syndication Represented bank in the syndication of tax credits to low income housing tax credit investors. Work-Out of Troubled Low Income Housing Tax Credit Projects Restructuring of debt and equity documents among numerous low income housing tax credit projects.
