Municipal Finance

Clark Hill represents municipal clients on the legal issues pertaining to their financial and borrowing needs. Our firm regularly acts as bond counsel to municipalities; is included in the Bond Buyer’s Municipal Marketplace as “Recognized Bond Counsel”; approved as bond counsel to Rural Development; and also serves as members of the National Association of Bond Lawyers.

Our team has extensive experience in all aspects of the issuance of tax-exempt debt by municipalities. In this regard, we provide comprehensive knowledge of the federal and state laws that govern the issuance of tax-exempt debt. In addition, our team has a thorough knowledge of the federal and state law requirements for structuring municipal bond debt, and is well-versed in state and local election laws.

Our attorneys have acted as bond counsel in a large number of tax exempt bond transactions across the country. Our abilities include many types of bond transactions, including unlimited tax general obligation bonds, revenue bonds, tax increment bonds for DDAs, LDFAs, TIFAs and Brownfield Authorities, special assessment bonds, bonds issued by various authorities, and refunding bonds. In particular, we have been bond counsel in the issuance of numerous bonds to finance the construction of water and sewer improvements.

Notably, our attorneys are skilled in the borrowing process under the Rural Development Program. We have a very strong working relationship with Rural Development officials, and an in depth understanding of the Rural Development Program, its requirements, and structure for bond issues. This experience includes handling financing projects for water and sewer systems through revenue bonds and other types of bond issues. We believe that these relationships, which we have developed over many years of practice, allow us to provide a level of representation that might not be available from other law firms.

Experience

Redevelopment of the iconic Argonaut Building in Detroit, Michigan at a project cost in excess of $150,000,000 through a multi-layered tax credit transaction involving State and Federal Historic Tax Credits, New Market Tax 

Represented a local municipality and economic development group in obtaining the first State of Illinois single community Redevelopment Authority with bonding authority of $200 million dollars

Represented investment group structure in the investment and assisted in raising $3,000,000 in capital to facilitate the acquisition of a community based financial institution

Represented commercial development client in the development of over 200,000 square feet of commercial retail strip centers located in the Chicago metropolitan area. Responsible for land acquisition, site planning/design; government entitlements; (zoning/incentives); analysis and procurement of project financing, and construction management. Utilized various economic development tools to improve profitability such as real estate tax rebates (class 8) and tax increment financing

Represented local municipality in the creation of a not for profit development entity to facilitate the development of a $500 million dollar comprehensive redevelopment plan to accommodate the acquisition and development of land for a multi carrier cargo development plan

Represented and counseled a not for profit developer in the establishment of a development joint venture in the construction of a 96 unit Section 42 federal tax credit low income senior housing facility

Represented development joint venture consisting of private equity firm and real estate developer for the development and construction of quick service restaurants throughout the United States

Acquisition and Development of Urban Office Building. Representation of a national developer in connection with (i) negotiating and drafting of documentation with respect to site acquisition, formation of single-asset limited partnership (the entity that owns and operates the project), development, construction contracting, and construction and permanent financing including multiple governmental loans and grants; (ii) assisting developer in obtaining zoning/permitting/approvals needed to develop project; and (iii) providing counsel in connection with environmental issues involving the site which was a "brownfield" site.
Acquisition and Development of Large Urban Housing Project. Representation of a national developer in connection with (i) negotiating and drafting documentation in connection with site acquisition, formation of single-asset limited partnership, project development, project development financing, construction management and contracting, construction and permanent financing including financing from government lenders, and property management; (ii) assisting developer in obtaining zoning/permitting/approvals needed to develop the project; (iii) providing counsel in connection with environmental issues; (iv) assisting developer in obtaining historic tax credits and a conservation easement; and (v) assisting developer in obtaining bridge financing for such easement and credits.