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Economic Development, Real Estate and Affordable Housing

Municipal Law

BB&K's Economic Development, Real Estate and Affordable Housing practice represents public and private clients in all aspects of economic development, real estate and affordable housing transactions.

Our attorneys work closely with the firm’s Public-Private Partnership group to assist our clients in finding creative solutions to their development needs.

Whether you are a public agency seeking to explore new ways to do economic development following the dissolution of redevelopment agencies, a private developer looking to move projects forward without the tools of former redevelopment agencies, or a housing authority wanting to create more housing opportunities in your community, BB&K has the expertise and experience to assist you.

Our attorneys specialize in assisting public and private clients in all phases of project development, including pre-development planning, negotiation, financing, contracting, construction, and litigation when necessary. Additionally, BB&K has an entire practice group devoted to eminent domain acquisitions, allowing you to save time and money as we address all your development concerns simultaneously.

BB&K has previously served as general or special counsel to more redevelopment agencies than any other firm in California. This experience makes us uniquely qualified to assist our public and private clients with the wind-down process required by AB 1X 26 and the transition to new ways of doing economic development, real estate development, and affordable housing in California’s post-redevelopment era.

Our attorneys provide specialized service in the following areas:

Economic Development

The use of redevelopment tax increment financing in California effectively ended in 2011, but various alternatives remain for financing urban development projects and BB&K attorneys have the experience to assist our public and private clients in getting these projects done. Local agencies have tools that can be used to leverage urban development and foster public and private investment to finance much needed economic development, infrastructure and public amenities. BB&K can assist clients with such economic development tools as New Market Tax Credits, California Infrastructure and Economic Development Bank and infrastructure financing.

With redevelopment agencies in the forefront of economic development for the past 40 years, there has been little need for public agencies and developers to use these other smaller-scale programs. With the end of redevelopment, BB&K is prepared to help our clients continue delivering jobs and economic development catalysts using these and other tools. Some examples of the tools BB&K attorneys are experienced in using include:

  • Special Financing Districts, e.g. infrastructure and services Community Facility Districts, special tax vehicles, assessment districts, and school facility improvement districts;
  • Municipal Tools, e.g. ground lease or sale of publicly-owned land, development agreements, design-build, lease-leaseback, and eminent domain;
  • Public Financing Tools, e.g. lease revenue bonds, industrial development bonds, private activity bonds (for market-rate and affordable housing), and certificates of participation.

Real Estate

BB&K has a significant residential and commercial real estate law practice. We assist our clients with a wide variety of transactions including residential (multifamily and single family), mixed-use developments, hotels/convention centers, sports arenas/stadiums, commercial and entertainment complexes, offices, transit oriented developments, land trusts, and condominiums. Our attorneys are experienced in all aspects of acquisition and disposition of real estate assets, having structured all types of deals. We represent our clients in purchase and sale agreements, lease-leaseback arrangements, ground leases and all other types of conveyances. Our services extend well beyond the standard negotiation and documentation of the deal to include, as needed, structuring and assisting with the financing and entitlement of the project.

Affordable Housing

BB&K has a considerable affordable housing practice and represents public and private clients in connecting with a wide range of affordable housing matters. The firm has historically represented redevelopment agencies and private developers in redevelopment-funded affordable housing projects. We currently represent numerous housing authorities throughout California. Our affordable housing expertise includes the development of ownership and rental housing projects, compliance with Community Redevelopment Law and Housing Authority Law requirements, density bonus issues, inclusionary housing, compliance with federal housing requirements, and funding programs including low income tax credit financing, state and federal grant and loan programs such as CDBG, HOME, BEGIN, CHFA, and CalHome.

Additionally, with all of the changes in state and federal law, the firm’s California attorneys are supported by our attorneys in Washington, D.C. who are actively involved with the legislative and regulatory process affecting federal housing laws and funding.

Financing

BB&K is experienced in providing advice to agencies and developers in order to fund and finance their projects.  We work closely with our bond attorneys to consider various factors before suggesting a variety of financing options such as tax allocation bonds, sales tax bonds, lease revenue bonds, certificates of participation, assessment district bonds, Mello-Roos bonds, and residential mortgage revenue bonds. BB&K is experienced in applying for, and complying with, federal funds for both commercial and housing developments through Community Development Block Grants, Urban Development Action Grants, the Section 108(a) Loan Guarantee Program, and Urban Mass Transit Program.

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