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Financial Services & Capital Markets| Client Successes

Tax Credit Paves the Way for Low-Income Housing

Situation

A bank and its community development arm needed assistance with the financing for a low-income residential development in Appleton, Wisconsin. The Husch Blackwell team negotiated and drafted a $5 million Low Income Housing Tax Credit (LIHTC) construction loan on behalf of the bank, as well as negotiating and drafting documentation for a $510,000 Affordable Housing Program (AHP) grant.

Result

A former factory and employee parking lot have been replaced with 40 cottage-style housing units, promoting affordable housing and community development in Appleton.