Susan Ellinger, Heather McDowell and Steven Carr of the Ellinger Carr law firm will be the featured speakers and trainers at the upcoming annual conference and training meeting for the North Carolina Housing Authority Directors Association in Wilmington on September 23. Topics include a North Carolina legislative update, the HUD RAD conversions and financing program, and personnel management issues.
Archives for August 2013
Financings, closings for affordable housing top $335 million
August 14, 2013 By
Over the past twelve months, Ellinger Carr lawyers have counseled and assisted with the closings of more than 20 complex commercial transactions for the investment of more than $335 million in equity and debt financings of multifamily affordable housing apartment complexes. These closings provided for tax credit financing, including tax credits allocated by the North Carolina Housing Finance Agency and similar housing finance agencies in other states, for commercial real estate developments in affordable and senior communities in North and South Carolina, and in Florida, Georgia, Louisiana, Tennessee, Texas and Virginia.
Ellinger Carr is presently advising and assisting public housing authorities, other public housing agencies and other clients with implementation of the Rental Assistance Demonstration (RAD) program of the United States Department of Housing and Urban Development (HUD). RAD is similar to previous HUD mixed finance initiatives, like the HOPE VI program used for redevelopment of public housing communities, including recent HOPE VI project closings and financings that Ellinger Carr lawyers assisted with in Charlotte, Greensboro, Raleigh and Wilmington, North Carolina and Richmond, Virginia. Our firm’s lawyers also have counseled and assisted with special bond financings under the HUD Capital Fund Financing Program (CFFP). The lawyers have closed multiple CFFP transactions providing more than $30 million in capital investments and improvements to public housing units in the Carolinas and elsewhere in the United States. 
Ellinger Carr is a business law and commercial real estate law firm based in Raleigh, North Carolina. Providing safe, affordable housing for families, seniors and developmentally disabled persons has long been a part of the work of the Ellinger Carr law firm, in communities in the Carolinas, the Southeast and elsewhere in the United States. The firm’s lawyers are experienced and knowledgeable counselors, transaction specialists and business problem solvers, admitted to practice in North Carolina, South Carolina, Florida, Louisiana and New York. For assistance in affordable housing, HUD financing, commercial real estate and corporate/business development matters, call 919-785-9998 or email Susan Ellinger at sellinger@ellingercarr.com or Steven Carr at scarr@ellingercarr.com.
Ellinger Carr advising, assisting Housing Authorities with RAD Financing and Conversion Program
August 12, 2013 By
Ellinger Carr is now advising and assisting public housing authorities, other public housing agencies and other clients with implementation of the Rental Assistance Demonstration (RAD) program of the United States Department of Housing and Urban Development (HUD). Providing safe, affordable housing for families, seniors and developmentally disabled persons has long been a part of the work of the Ellinger Carr law firm, in communities in the Carolinas, the Southeast and elsewhere in the United States.
Susan Ellinger, the firm’s founding member, has announced that the firm’s lawyers are working currently with housing authorities, non-profits and lenders to apply for and to facilitate the RAD conversions of existing public housing units, where conversions are financially feasible, with private debt and equity financings.
“The RAD program is the latest HUD innovation and initiative designed to convert public housing properties to long-term, project-based Section 8 rental assistance in order to achieve certain goals, including preservation and improvement of existing properties and good quality housing in our communities,” Ms. Ellinger said. “To meet these goals, RAD provides housing authorities and other owners of these properties with access to private debt and equity financing to address both immediate and long-term capital requirements.”
Ms. Ellinger explained that RAD is similar to previous HUD mixed finance initiatives, like the HOPE VI program used for redevelopment of public housing communities, including recent HOPE VI project closings and mixed use financings that Ellinger Carr assisted with in Charlotte, Greensboro, Raleigh, and Wilmington, North Carolina and in Richmond, Virginia.
“RAD offers new financing flexibility and alternatives for housing authorities, and HUD has committed to a relatively quick and streamlined application and financing process for eligible properties and owners,” Ms. Ellinger noted.
Ellinger Carr is a business law and commercial real estate law firm based in Raleigh, North Carolina. Ellinger Carr lawyers are experienced and knowledgeable counselors, transaction specialists and business problem solvers, admitted to practice in North Carolina, South Carolina, Florida, Louisiana and New York. For assistance in affordable housing, HUD financing, commercial real estate and corporate and business development matters, call 919-785-9998 or email Susan Ellinger at sellinger@ellingercarr.com or Steven Carr at scarr@ellingercarr.com.
