Legal Services

The Vendor is required to provide legal services are critical to advancing our mission of expanding and preserving affordable housing options and ensuring safe, stable, and supportive housing for vulnerable populations in city.
- Requirement:
1. Housing trust fund-multifamily rental financing
• Provide legal services for housing trust fund (HTF) loans;
• Prepare loan agreements and other legal documents for low income housing tax credit (LIHTC) 9%and 4% developments;
• Prepare loan agreements and other legal documents for acquisition and rehabilitation, naturally occurring affordable housing, non-LIHTC, and all other multifamily rental developments;
• Participate in due diligence closing calls and meetings to represent the city's interest;
• Review loan modifications, subordinations, changes of partnerships, and consent documents; and
• Advise city staff on the impact of city involvement in LIHTC and other affordable housing development transactions.
2. Housing rehabilitation program.
• Conduct title search as requested ( approximately 50 or more title searches annually);
• Prepare a title opinion letter disclosing items impacting title to property as needed; and
• Review information submitted by the contractor and prepare construction contract.
3. Lead-based paint hazard reduction program.
• Review executed deed restrictions to confirm the owner of the record signed the restrictions and to verify the restrictions were signed and notarized properly;
• Provide the correct legal description and attach it to the deed restrictions; and
• Prepare all necessary agreements.
4. Housing development loans and grants
• Prepare loan documents, and as needed, other project documentation and complex agreements in connection with city funding of the development of for-sale affordable housing developed by private and non-profit developers;
• Review and analyze loan documents and development documents prepared by other project participants;
• Negotiate with developers upon request by housing and neighborhood services;
• Provide advice regarding compliance with the department of housing and urban development (HUD) and city project funding requirements and guidelines;
• Perform title work and prepare deeds for the conveyance of real property by the city;
• Service existing housing development program loans and grants by preparing and reviewing proposed modifications, loan assumptions, consents and subordinations, etc.;
• City staff with monthly updates on timetables for completion of grant and loan projects;
• Prepare house charlotte requests for notices;
• As needed, advise dosing attorneys and housing and neighborhood services staff on questions and issues for specific closings and general policy issues; and
• Within ten (10) days of receipt from city staff of the request for housing development loans and grants, provide an estimated timetable for completion of the housing development loan or grant.
5. Servicing an administration of existing loan portfolio loan modifications
• Prepare loan modifications within ten (10) days of receipt of a request from city staff; and
• Estimated timetable for the completion of the request(s).
6. Loan assumptions
• Review and analyze the original loan documents;
• Review and analyze the city's determination of ownership;
• Examine title, including, without limitation, investigation of estates and determination of heirs of deceased borrower(s);
• Research title to confirm ownership of the property;
• Prepare loan assumption documents;
• Within ten (10) days of receipt from city staff of loan assumption notice provide an estimated timetable for completion of loan assumption; and
• Conduct closing, including, without limitation, recordation of applicable closing documents.