Todd B. Urness has practiced with the law firm of Winthrop & Weinstine, P.A., since 1985 and has been a shareholder with the firm since 1988. Mr. Urness is currently a member of the Board of Directors of Winthrop & Weinstine and has served on its senior management and compensation committees since 1993. Prior to joining Winthrop & Weinstine, he was with the accounting firm of Coopers and Lybrand.
Mr. Urness practices primarily in the areas of real estate and corporate finance with an emphasis in multifamily housing development and finance. He serves as counsel to numerous business and real estate owners, developers and investors as well as banks, syndicators and other financial or lending institutions throughout the upper Midwest. He also has served on the Board of Directors of a number of development and finance corporations. Mr. Urness advises clients on a number of complex development and finance related issues including the use of tax exempt bonds, tax increment financing, tax credits, joint venture and partnership matters, city, county and other governmental subsidies. He has specific and substantial expertise in multifamily housing development and finance including the development and financing of rental and for-sale housing as well as commercial and mixed use facilities. Mr. Urness has experience in all aspects of real estate development from land acquisition and assembly, joint venture relationships, construction, mezzanine and permanent financing matters as well as the negotiation, documentation and monitization of subsidies such as tax increment financing and tax credits.
In connection with his real estate development and finance practice, he has significant expertise and experience in the negotiation, documentation and monitization of tax increment financing. Tax increment financing is a customary and vital subsidy involved in most metro area transactions for commercial or housing developments. Mr. Urness has negotiated TIF agreements with most cities in the greater metropolitan area and also has substantial experience and expertise in the area of monitization of TIF streams and in the use of TIF as security for debt financings.
In addition to his career at Winthrop & Weinstine, Mr. Urness has developed, acquired and owns a significant number of multifamily housing rental projects. Mr. Urness, through a variety of affiliates, has developed or acquired and rehabilitated over 900 rental units with a total construction/acquisition cost in excess of $60,000,000. These developments have been financed utilizing a combination of a number of public subsidies and private financing sources and are located in various areas of the Twin Cities.