A. Redevelopment Agreements Legal Feasibility: Early involvement in assessing the legal framework surrounding the project, including statutory authority, regulatory requirements, and compliance issues. Risk Analysis: Identify potential legal risks, including environmental, regulatory, and contractual risks, advising on mitigation strategies. Contract: Negotiate, prepare, and review of contracts, agreements, legal opinions, documents and other writings necessary to implement a redevelopment plan from an existing term sheet. Financial Close: Assisting in achieving financial close by reviewing and advising on the financing agreements, ensuring compliance with the project agreement, and addressing any legal conditions precedent. Ongoing Compliance: Ensuring ongoing compliance with the project agreement and applicable laws during the construction and operation phases. Dispute Resolution: Acting as mediators or representing parties in resolving disputes that may arise during the project lifecycle, utilizing pre-agreed dispute resolution mechanisms within the contract. End-of-Term Procedures: Advising on the legal procedures for the handback of the project to the public entity at the end of the term, ensuring compliance with contract conditions regarding the state of the asset. Termination: In the case of early termination, the awarded attorney/firm will assist in the legal process, including negotiating termination payments and ensuring a smooth transition of the project back to the public entity or to a new private partner B. Affordable Housing Development The Affordable Housing Counsel will provide comprehensive legal representation to effectuate the closing and funding of affordable housing financing transactions that may include federal low-income housing tax credit (“LIHTC”) and tax-exempt bond or taxable bond funded transactions, joint legal representation with other sources of State funding, and special multifamily financing programs including, but not limited to, Build for CT. The responsibilities of affordable housing closing counsel may include, but are not limited to: Negotiating, drafting, and reviewing of contracts, agreements, legal opinions, documents and other writings necessary for affordable housing agreements. Examples of such materials include documents such as ground leases, regulatory and operating agreements, declarations of trust and restrictive covenants, management agreements, partnership agreements, financing agreements, program income agreements, loan documents, and documents utilized and required in connection with the project. Providing guidance on affordable housing, commercial or traditional housing project and real estate financing in Connecticut including the FLIHTC and related tax credit equity syndication and investment, State of Connecticut affordable housing financing programs, federal tax-exempt bond financings, and project-based Section 8 rental assistance. Advising the City Attorney/OPED on commercial and multifamily real estate financing in the State of Connecticut, including issues related to title, survey, collateral, contracts, corporations, partnerships and limited liability companies, insurance, taxation, and environmental matters and be experienced negotiating and working with borrower’s counsel, general contractors, environmental consultants, accountants, development consultants, investors and investor counsel and other transaction related parties.
