Steve wallace nixon peabody
Steve wallace nixon peabody mass!
Stephen J. Wallace
My focus
Development and Preservation
Much of my work involves helping clients refinance, rehab and preserve affordable housing properties to increase value and long-term viability.
Steve wallace nixon peabody
There are a variety of mechanisms that can be used to do this, from mark-up-to-market of Section 8 contracts to Section 236 IRP decouplings (and now re-decouplings) to HUD’s signature initiative, the Rental Assistance Demonstration program.
I was part of the successful effort to have HUD approve post-rehab rents effective at loan closing for certain types of financing. Owners and purchasers of older HUD-assisted properties seek my advice on addressing complex transactional and regulatory matters.
Legislative
I’m in close contact with HUD officials as we work together to decipher the fine print of affordable housing legislation to preserve affordable housing properties.
Often these issues take me to Capitol Hill or state housing agencies to seek clarification or re