Amy M. McClain represents public housing authorities and affordable housing developers in the context of mixed-finance transactions. Amy closes affordable housing transactions involving a variety of funding sources, including Low Income Housing Tax Credits, the Rental Assistance Demonstration program, public housing and Section 8 funding sources, HUD-insured loans, tax-exempt bonds, state housing finance agency loan funds, and conventional financing. These transactions have provided her with the opportunity to negotiate issues among the financing parties, housing authorities, and developers while also coordinating the U.S. Department of Housing and Urban Development review and approval process. Amy also addresses traditional real estate issues intertwined with low-income housing development.
Representative Matters
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Represents a Pennsylvania-based affordable housing developer in its projects in Maryland, including the redevelopment of the former Freedom Village and Claremont Homes site, a portion of the East Baltimore development initiative, and Uplands, each involving various state and local financing resources, as well as compliance with the city's Bailey Consent Decree requirements
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Represented the Housing Authorities of Fresno on various transactions, including four of the country's first Rental Assistance Demonstration (RAD) conversions
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Represents the New York City Housing Authority in multiple low-income housing tax credit transactions, including the acquisition/rehabilitation tax credit transaction closed under the American Reinvestment and Recovery Act HUD programs and the current conversion of 1,395 public housing units under HUD's RAD program
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Represented the Puerto Rico Public Housing Administration in the nation's largest bond issuance and Low Income Housing Tax Credit acquisition/rehabilitation transaction, involving more than $700 million in funds for the modernization of more than 4,000 units within 33 public housing developments
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Represented the Housing Authority of the City and County of Denver in its acquisition/rehabilitation Low Income Housing Tax Credit transaction, which maximized the tax credit-eligible basis generated by Energy Performance Contract improvements to three high-rise public housing sites
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Represents the Housing Authority of the City of Tacoma, Washington, in relation to the Salishan HOPE VI revitalization and the authority's mortgage of public housing land to finance the infrastructure of a portion of the redeveloped Salishan site
