Departments

Phone: 314.552.6886
Fax: 314.231.1776

Janice E. Hetland

Shareholder

Janice Hetland is a shareholder in Financial Services at Polsinelli Shughart and is the chair of the firm’s Affordable Housing and Tax Credit Finance and Development practice group.

Ms. Hetland has a national practice in real estate development and finance, with a specialty in tax structuring and finance of developments financed using tax credits and other tax incentives.  She has extensive knowledge and experience in structuring transactions financed with such federal incentives as federal historic tax credits, federal new markets tax credits, federal low-income housing tax credits, and HUD grants, HOPE VI advances and FHA insured loans, as well as state and local incentives, such as tax credits and tax increment financing.  Her clients include developers (both for profit and non-profit), direct investors, equity funds, lenders and community development entities.  Ms. Hetland also represents developers of market rate commercial, office and multi-family residential properties and commercial lenders in a variety of real estate and asset based loan transactions.

Developers and investors turn to her to guide their acquisition, development and finance of commercial and residential real estate developments, whether market rate, mixed-income or affordable housing.  Ms. Hetland’s practice also involves “workouts” of tax credit investments during their compliance periods and development and implementation of exit strategies for investors and developers.

Memberships and Affiliations

  • American College of Real Estate Lawyers (ACREL)
  • American Bar Association
    • Forum on Affordable Housing and Community Development Law
    • Real Property and Probate Section
    • Taxation Section
  • The Missouri Bar
  • Bar Association of Metropolitan St. Louis
  • Commercial Real Estate Women, St. Louis Chapter

Distinctions

  • Selected for inclusion in The Best Lawyers in America® 2012, Real Estate Law
  • American College of Real Estate Lawyers (ACREL), Fellow
  • Ranked in Chambers USA: America's Leading Lawyers for Business, Real Estate (St. Louis & Surrounds), 2010-present
  • Selected for inclusion in Missouri & Kansas Super Lawyers, 2008-2011
  • Selected for inclusion in Top 50 Women Lawyers in Missouri & Kansas Super Lawyers, 2010
  • AV Rated Martindale Hubbell

Experience

Historic Tax Credit Transactions
  • Representation of developers and equity investors in connection with development of historic buildings, for use, inter alia, as office buildings, hotels, theaters, residential uses (market rate, low income rental housing and “for- sale” condominiums), mixed-use commercial and residential uses, museums and other commercial uses. Financing sources have included federal and state historic tax credits, federal and state low income housing tax credits, federal new markets tax credits, FHA-insured loans, conventional financing, tax exempt bond financing and tax increment financing, as well as a variety of state and local development incentives and state credits.
  • Financing structures include “master lease” structures with pass through of the federal historic tax credits to a master tenant entity, as well as single entity structures

New Markets Tax Credit Transactions
  • Representation of community development entities, lenders, for-profit and non-profit developers and investors, respecting development of qualified active low-income community businesses in qualified census tracts. Representative qualified active low-income community businesses include, inter alia, development of office buildings, hotels, research and technology facilities, museums, mixed-use commercial and residential buildings, business incubators, retail establishments and other for-profit and non-profit commercial uses
  • Financing structures have included leveraged and non-leveraged loan financings and equity investments, twinned historic and new market transactions. Further these financings typically involve multiple layers of debt and equity and multiple community development entity NMTC allocations

LIHTC/Affordable Housing
  • Representation of investors in, and developers of, historic buildings, developed to provide affordable housing or mixed income housing, financed in part by low income housing tax credits and utilizing a “master lease” structure, with pass through of the federal historic tax credits to a master tenant.
  • Representation of investors, developers, lenders and bond purchasers in connection with a variety of low income housing projects, including 9% credit transactions and transactions involving tax-exempt bonds and 4% tax credits.
  • Representation of investors in connection with “workouts” of tax credit projects during the compliance period and in connection with development of exit strategies
  • Representation of developers of, and investors in, mixed income HUD HOPE VI and capital advance multi-family residential projects. Funding sources have included HUD HOPE VI and capital advance funds, HUD 202 and 811 capital advances, federal and state low-income housing tax credits, HOME and CDBG grants and loans, ARRA funding, state contributory tax credit proceeds and state grants

HUD Financing
  • Representation of developers of HUD Section 202 elderly and HUD Section 811 disabled housing, housing financed by HUD capital advance grants, both grant financing and loan financing in connection with LIHTC developments
  • Representation of developers and investors of multi-family housing, financed with a variety of FHA-insured loans, and in connection with transfers of physical assets
  • Representation of public housing authorities in connection with development of mixed-income projects, utilizing such funding as federal low-income tax credits, HOME funds and HUD capital advance and operating advance funds
  • Representation of developers of HOPE VI homeownership projects 

Publications & Presentations

Currently
October 2009
ABA Affordable Housing and Community Development Law National Net Web Presentation
October 2009
Presented to National Trust Historic Preservation
June 2009
Presented to NASLEF Conference
June 2009
Presented to NASLEF Conference
May 2009
Presented to ABA Affordable Housing and Community Development Law Annual Conference
April 2009
Presented to Novogradac MultiCredit Conference
January 2009
Presented to Novogradac 16th Annual Tax Credit Developer's Conference
December 2008
Presented to Novogradac LIHTC Housing Finance Conference
October 2008
Presented to National Trust for Historic Preservation Annual Conference
May 2008
Presented to ABA Affordable Housing and Community Development Law Annual Conference
April 2008
Presented to California Preservation Foundation
January 2008
Presented to Novogradac NMTC Conference