Serving the Vital Needs of the Commonwealth
We are leaders in representing Massachusetts public and quasi-public lenders in loans and bond and tax credit financing vehicles to support the affordable housing, social services, educational and other initiatives of non-profit and for-profit borrowers.

Services Complement Other Practice Areas
Our public and quasi-public lending practice complements our work on behalf of owners of affordable housing projects, educational facilities including charter schools and Chapter 766 schools, health and human services facilities including skilled nursing homes, assisted living facilities, and group homes, and other service oriented real estate projects.

Mission-Based Public and Quasi-Public Clients
Together, our main public and quasi-public lending clients provide financing for much of the significant affordable housing and social services development in the Commonwealth. These clients include:

• Massachusetts Housing Partnership: We have served for many years as counsel to the Massachusetts Housing Partnership Fund Board (MHP), a quasi-public agency established to support affordable housing development in Massachusetts. We have developed standard form loan documents for MHP’s rental housing finance program; assisted in the creation and implementation of the innovative “MATCH” program, which makes tax-exempt bond financing available to affordable housing developers through credit enhancement or direct purchase from the MHP’s funding banks; engaged in joint representation of MHP as permanent lender and various MHP funding banks as construction lender under MHP's OneSource loan program; and closed well over 100 loans.
• DHCD and CEDAC: We have a long history of representing the Massachusetts Department of Housing and Community Development (DHCD) and its financial intermediary, Community Economic Development Assistance Corporation (CEDAC) in a wide range of matters, including closing over 200 project-specific loans, preparing program documents, and providing advice on policy and legislative matters. Our work representing DHCD and CEDAC in finance transactions includes the following state and federal programs:
  • The Housing Innovations Fund (HIF) program, which supports the development by non-profit entities of rental housing for special needs populations, including homeless shelters, hospices for the terminally ill, transitional housing for former substance abusers and veterans’ housing.
  • The Facilities Consolidation Fund (FCF) program, which facilitates the development of community-based housing for clients of the Department of Mental Health and the Department of Mental Retardation.
  • The Community Based Housing (CBH) program, which provides financing for the development of integrated housing for the elderly and persons with disabilities
  • The federally funded HOME program which provides loans to support the production and rehabilitation of affordable housing.
  • The state-funded Housing Stabilization Fund (HSF) program which provides loans to support the production and rehabilitation of affordable housing.
• Community Development Financial Institutions: We advise Boston Community Capital and its lending arm, Boston Community Loan Fund, as leverage lenders in New Markets Tax Credit transactions.
• Tax Exempt Bond Financing: We represent banks providing letters of credit to enhance tax-exempt bond financing, as well as banks purchasing tax-exempt bonds.

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