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Joshua N. Noah

My job is to help clear the roadblocks to bring more affordable housing to our communities.

Contact: P /612.604.6599E /[email protected]

Education

University of Wisconsin Law School, J.D., 2015

• Managing Editor, Wisconsin Law Review

Northwestern University, B.A., Political Science, 2013

 

Bar Admissions

Minnesota, 2016

Wisconsin, 2016

Washington, 2022

Missouri, 2024

My Approach

I represent developers and others who use state and federal Low Income Housing Tax Credits (LIHTCs) to finance the acquisition, substantial rehabilitation, and new construction of affordable housing across the country. By combining LIHTC with various forms of conventional, tax-exempt and governmental debt facilities, I have helped clients close on more than $1.1 billion in financing to acquire, build and rehabilitate approximately 10,000 units of affordable housing across more than 20 states over the past five years.

While I focus on efficient and timely closings, I also help my clients address issues that may occur during construction, prior to stabilization, or during investor buy-out or asset sales several years down the road. I work on dozens of projects every year at various points in the development process, and help clients avoid missteps and headaches for their new transactions and existing assets. I help others navigate the sometimes unduly complex regulatory and legal roadblocks to bring much-needed affordable housing to communities across the country.

Practice Areas

Practicing Tax Credit Financing & Syndication

My Experience

I regularly work on the following types matters:

• Structuring transactions involving state and federal tax credits, tax-exempt bonds and various forms of construction, bridge and permanent debt facilities and financing.
• Navigating state and federal government grant and loan programs.
• Applying, maintaining and leveraging local property tax exemptions.
• Securing local governmental approvals and navigating land use and development issues with state and local governmental agencies.
• Negotiating and drafting joint venture agreements.
• Partnership interest acquisition and sales.
• Drafting and negotiating purchase agreements with an emphasis on protecting developers on common partnership tax missteps.
• Drafting and negotiating construction, architect and other AIA contracts.

Representative Matters

• Represented a private for-profit developer in the acquisition of a portfolio of apartment projects throughout the Dallas metro area, and structuring the acquisitions to preserve acquisition credits for the eventual federal LIHTC closings in the following years.
• Represented a for-profit developer in the acquisition and rehabilitation of a 224-unit affordable low-income housing apartment complex in Houston, Texas, involving approximately $26,000,000 in tax exempt bond financing, multiple layers of debt and federal low income housing tax credit (LIHTC) equity financing.
• Represented a for-profit developer in the acquisition and rehabilitation of a scattered site low income housing apartment complex in Bradenton, Florida, involving approximately $32,500,000 in tax exempt bond financing, multiple layers of subordinate governmental financing and federal LIHTC equity financing.
• Represented a public housing authority in the construction of a new, 74-unit affordable and senior low income housing  apartment complex in Aurora, Colorado, financed through multiple layers of debt, including financing through HOME Loan and Community Development Block Grant (CDBG) programs, and state and federal LIHTC equity financing.
• Represented a private, for-profit developer in the acquisition and new construction of a 183-unit affordable housing apartment and commercial complex, located in Minneapolis, Minnesota, involving approximately $61,000,000 in multiple layers of debt, including a FHA Insured 221(d)(4) loan facility, and federal LIHTC equity financing.
• Represented a public housing authority with a RAD Conversion of a 96-unit commercial and low income housing apartment complex and the simultaneous closing of approximately $10,000,000 in low income housing tax credit equity financing for the complex’s substantial rehabilitation.
• Represented a national bank in connection with a construction to permanent loan and simultaneous closing of the tax credit syndication for a new construction affordable housing project in Eau Claire, Wisconsin.

Also experienced in

Real Estate Development & Transactions

Real Estate Finance

General Corporate

Energy Real Estate

Honors & Awards

The Best Lawyers in America© Ones to Watch

Real Estate Law, 2024-2025
Tax Law, 2024-2025