Sometimes the best results are achieved through settlement rather than from judge or jury. That was the case where Severson negotiated a resolution on behalf of one of the country’s leading tax-credit syndicators. The dispute involved three troubled affordable housing developments in Florida and a fourth in Illinois. Months of negotiations resulted in multi-million dollar relief for one failed project as well as securement of the developer’s future performance through a series of guarantees. Andrew Noble and Andrew Elliott negotiated the resolution and restructured the deals.

The federal LIHTC program provides funding for the development costs of low-income housing by allowing an investor (a limited partner) to take a tax credit of the cost incurred for development of the low-income units in a rental housing project.