Real Estate development and management often requires a disciplined and patient approach in a market that may have many changing variables. At the same time, the market may demand quick turnaround times without sacrificing quality. Our firm can assist developers in maximizing the value of their property in line with each developer’s vision and within their timeframes. As part of its real estate development practice area, Convergent Law has developed expertise in the areas of commercial leasing, purchase and sales and land use.

At Convergent Law our attorneys are well versed in dealing with the nuances and intricacies of the Internal Revenue Code, specializing in corporate and partnership formation, exempt organizations, public finance, real estate, and federal and state tax credits. We work closely with our clients, pushing the envelope to structure the most advantageous financing, corporate, partnership and joint venture structures. At Convergent law we provide a holistic approach ensuring all tax considerations are being addressed while also factoring our clients’ overall personal and business objectives.

Affordable Housing continues to be a concern for communities across America and for public and private entities alike. Among many of the challenges, one fundamental concern is the lower revenue received from an affordable unit and the ability of a developer or investor to recoup their investment plus a reasonable profit. While the financial hurdles are often not the only issue in the creation of affordable housing, they are an important consideration for developers, investors, owners and communities. There are local, state and federal programs that can help support housing affordability, but these programs often require an experienced and creative approach.

Closely tied to the Redevelopment Practice Area, are tax exemptions and Redevelopment Area Bonds (RABs). These are financial tools that can greatly enhance the financials for a project in a blighted area since they have the ability to lower an owner’s or tenant’s tax liability over a period of time. They also have the ability to lower operating costs and/or contribute to the capital stack for a given project. Tax exemptions are powerful tools on their own, but can be paired with other forms of financing as part of a more comprehensive financing structure for larger projects.

Redevelopment continues to be a major driver of development, given the legal tools that encourage and facilitate infill and redevelopment. Redevelopment can be a catalyst for new development or an anchor to expand private investment in otherwise blighted areas. Convergent Law has decades of experience in redevelopment that includes an expertise in the nuances of the law and its many potential applications. Our firm understands the need to comply with legal procedures, but also can be creative with the tools that can make the difference for a project. Convergent Law is intimately familiar with the evolution of redevelopment laws and can help its clients navigate the changing landscape while being as creative as possible.

Convergent Law’s attorneys specialize in the area of Section 103 of the Internal Revenue Code of 1986, as amended (Internal Revenue Code) with years of experience advising issuers, nonprofits, universities, developers, school districts and health care institutions on all aspects of tax-exempt financings, rules and regulations on both a local and national level. We have analyzed and participated in the most cutting edge tax-exempt financings in the nation, counseling our clients on the best way to leverage both public and private sources of funding.

Recently enacted by the Tax Cut and Jobs Act of 2017, the Opportunity Zones is a tax incentive program where individuals, partnerships and other entities can delay paying taxes on certain realized capital gains. This program was intended to spur economic development and attract new types of investments in low-income communities similar to the New Markets Tax Credit program. The investments are required to be in the form of equity and taxpayers must invest their capital gain through Opportunity Funds. Proper implementation of this program requires counsel to have a thorough understanding of the tax laws and the creativity to assist clients in multiple facets of a projects.