As lender's counsel in the vast majority of our real estate transactions, Reno & Cavanaugh helps clients comply with regulatory restrictions on public funds and structures and negotiates loan agreements, intercreditor agreements, and other documents that further our clients’ business and policy goals.
Some representative examples of the firm's work are:
Monterey Place
New Haven, CT
In connection with the redevelopment of this former public housing site into a new community of rental and homeownership units, Reno & Cavanaugh counseled the Housing Authority of the City of New Haven on its loan of federal HOPE VI grant funds to collateralize a bond issuance. The firm drafted the escrow agreement for the federal funds, as well as providing loan and other documentation. In 2003, this project received an American Institute of Architects (AIA) Housing PIA Award because its design promotes "the importance of good housing as a necessity of life, a sanctuary for the human spirit, and a valuable national resource."
Rural Revolving Loan Fund
Reno & Cavanaugh is counsel to a revolving loan fund, which has assets in excess of $30 million dedicated to affordable housing development in rural and high-needs areas, such as colonias (areas bordering Mexico), farmworkers’ regions, the Mississippi delta, and Appalachia. The firm advises the fund on compliance with federal and private funding regulations, internal corporate policies, conflict of interest matters, risk mitigation, and the use of local counsel for closings, foreclosure, and title work.
Refugio Street Apartments
San Antonio, TX
Working with developers and investors to improve housing through loans of federal Replacement Housing Factor Funds, this client creates public housing without expending the resources needed to develop housing on its own. Approximately 1,775 housing units are anticipated as a result of this program.
Parklawn Homes
Milwaukee, WI
This property was one of the oldest public housing developments in the country, and located in an area of deep poverty. Our client transformed the development into a stable mixed-income community, including 380 public housing units, 20 single family homes, a Family Investment Center, and the first YMCA to be located in a public housing development. Education is a central component of this development, and the Family Investment Center includes one of the first schools in North America to feature a wireless data network. In 2005, the City of Milwaukee received a World Leadership Award from the World Leadership Forum for its affordable housing work, including this development.
College Park
Memphis, TN
College Park is a new mixed-income community on the site of a former public housing development known as LeMoyne Gardens. Centered along a pedestrian “main street,” the community includes an 80-unit senior village, 261 family rental units, and 70 new for-sale units targeted to low and moderate income buyers. Reno & Cavanaugh helped the Memphis Housing Authority (MHA) to navigate tax credit, bond, real estate and public housing requirements necessary to develop the rental units, which included handling the first three closings in a one-year period, and advised MHA on the development of for-sale units, which are being constructed by local homebuilders and financed by federal funds and local banks.
Southfield Village
Stamford, CT
As a result of a HOPE VI grant, the Housing Authority of the City of Stamford (HACS) was able to construct a total of 330 new housing units, including 160 public housing units, 155 market-rate rental units and 15 opportunities for homeownership. Reno & Cavanaugh attorneys worked with HACS to develop a revolving loan fund for second and third mortgages to promote affordability in the homeownership component of this project.
2008 © Reno & Cavanaugh PLLC | Disclaimer & Privacy Policy | Last Updated: 08.28.08
Login 