On January 24, Dan Nelson met with Lutheran Services in America’s Housing Solutions Collaborative to present another potential solution for affordable housing. An Affordable Senior Housing Tax Credit (ASHTC) program would increase the supply of desirable, new “empty nester” senior rental housing alternatives at moderate rental rates, thus providing incentives for senior homeowners of modestly priced, single-family homes to sell those homes at fair market value.
As a member of the firm’s Public Finance practice group, Dan focuses on tax-exempt municipal bonds, representation of municipal securities underwriters and representation of 501(c)(3) tax-exempt organizations. His main areas of concentration are in the development and financing of senior housing, multifamily housing, low and moderate housing, public charter school developments, community sports and recreational facilities, alternative energy facilities and real estate funding and development.
Since 2007, Dan has been at the forefront of the expanding field of tax-exempt Public Private Partnerships, utilizing non-profit conduit financings. Under this innovative financing structure, Dan has acted as counsel for a 501(c)(3) charitable organization which serves as the borrower for the long-term, tax-exempt financings to assist cities, counties, schools and other non-profit organizations in providing public facilities without incurring their own debt. He has completed public non-profit conduit financings in Minnesota, Michigan, Florida, Texas, California, and Indiana, including rated transactions.
Dan is on the Board of the Lutheran Social Service of Minnesota Foundation, an affiliate of Lutheran Services in America’s (LSA) national advocacy organization in Washington, D.C. LSA’s Housing Solutions Collaborative works to find innovative solutions to housing insecurity, focuses on building opportunities for investment and financing partnerships, and creates federal, state and local advocacy actions. With LSA’s legislative support, the ASHTC initiative could be introduced in Congress and assist financing for private developers and non-profits to build desirable and affordable senior rental housing projects.
