Qualified Active Low-Income Community Business (QALICB) Representation

Related Practices

› Community Development Entity (CDE) Representation
› New Markets Tax Credits
› Qualified Active Low-Income Community Business (QALICB) Representation

Qualified Active Low-Income Community Businesses (QALICB) are businesses selected to receive funds from one or more Community Development Entities (CDE) through the federal New Markets Tax Credit (NMTC) program. To qualify for NMTC funding, the QALICB entity must meet certain eligibility requirements by being in a qualifying census tract or by serving certain targeted populations.

Our attorneys help QALICBs and their sponsor organizations navigate the complex NMTC structuring and closing process. We specialize in advising nonprofit corporations engaging in impactful community development activities in low-income communities through the NMTC program. Our work for QALICBs includes: advice on ongoing NMTC program compliance, guidance regarding single purpose entity formation, assisting with federal and state tax exemption applications, negotiating financing and other transaction documents, drafting opinions, advising on tax structuring, and assisting in the unwind and entity dissolution after the tax credit compliance period. Our attorneys also represent CDE lenders in NMTC matters.

Related Attorneys

Amy DeVaudreuil

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Colleen Wisel

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Elizabeth Klueck

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Elizabeth Klueck Attorney eklueck@goldfarblipman.com 510-836-6336

Ms. Klueck advises clients on a range of issues relating to real estate transactions, financing, and syndication. She practices in the areas of affordable housing, Low-Income Housing Tax Credits (LIHTC), New Markets Tax Credits (NMTC), tax-exempt entity law, and public finance.

Ms. Klueck represents nonprofit housing developers in the development, financing, and management of low-income housing developments, including year 15 dispositions. In addition, Ms. Klueck represents public agencies, philanthropic foundations, and housing authorities in the structuring and financing of housing and mixed-use developments and has extensive experience drafting and negotiating loan documents. Ms. Klueck has worked on transactions utilizing a variety of federal and state funding sources, including LIHTC, tax-exempt bond financing, the HOME Investment Partnership Program (HOME), Housing Opportunities for Persons With AIDS Program (HOPWA), Community Development Block Grant (CDBG) funds, Rental Assistance Demonstration Program (RAD), Affordable Housing and Sustainable Communities Program (AHSC), as well as other federal and state programs.

Ms. Klueck represents both qualified active low-income community businesses (QALICBs) and community development entities (CDEs) in NMTC transactions financing a broad range of projects, including educational facilities, performing arts facilities, healthcare centers, event spaces, nonprofit commercial offices and programming spaces, and mixed-use buildings.

Ms. Klueck also serves as an advisor to nonprofit housing developers in the areas of landlord-tenant law, property management, and compliance with federal and state funding sources regulations.

In addition, Ms. Klueck has considerable experience in forming nonprofit corporations, limited partnerships, and limited liability companies, the federal and state tax exemption application process, and the state welfare exemption process.

Education

B.A., cum laude, University of California, Berkeley
J.D., University of California, Davis
Recipient of Witkin Award (highest grade) for Academic Excellence
The Order of Barristers. CEB/UC Award for Excellence in Legal Writing
Competitions Chair, UC Davis Moot Court Board
Executive Board of Directors, King Hall Legal Foundation
American Inns of Court Scholarship Recipient
Finalist, Martin Luther King, Jr. Public Service Award

Professional and Volunteer Affiliations

State Bar of California

Jeff Streiffer

Contact Information

Jeff Streiffer Attorney jstreiffer@goldfarblipman.com 510-836-6336

Jeff Streiffer’s practice emphasizes commercial and real estate transactions, secured lending, cooperative law, affordable housing, and community economic development. He has represented nonprofit and for-profit developers and public agencies in low-income housing tax credit transactions in several states. Mr. Streiffer also advises clients on issues related to financial assistance programs administered by the United States Department of Agriculture (USDA), including Rural Development’s Community Facilities program, housing programs under Sections 514, 515, 516, 521, and 538 of the Housing Act, programs for businesses and cooperatives, Water & Wastewater programs, and other funding mechanisms authorized under the various reauthorizations of the Farm Bill and related legislation.

Mr. Streiffer has worked on numerous transactions involving state and local governments, public and quasi- public agencies, nonprofits, cooperatives, homeowners associations, Native American tribes, tribal entities, and a variety of agencies of the federal government. In addition to closing deals, Mr. Streiffer has significant experience in servicing and workout situations, having practiced in the areas of alternative dispute resolution, administrative appeals, bankruptcy, and debtor-creditor relations.

In the cooperative realm, Mr. Streiffer has over 30 years of experience working with cooperatives and credit unions and has provided training and education for staff, board members, and their attorney counsel on strategic planning, governance, operations, compliance, supervisory, and audit issues.

Education

B.A. Honors, Phi Beta Kappa, Earlham College
J.D., magna cum laude, Hamline-Mitchell School of Law

Previous Employment

Senior Counsel, USDA Office of the General Counsel, Pacific Regional Office
Attorney Advisor, USDA Office of the General Counsel, Central Region, St. Paul Office
Associate Attorney, Educational Credit Management Corporation
Judicial Law Clerk, Minnesota Court of Appeals

Professional and Volunteer Affiliations

State Bar of California
State Bar of Minnesota
U.S. Court of Appeals for the Eighth Circuit
United States Supreme Court
California Lawyers Association (Real Property Section; Business Law Section)
American Bar Association (Forum on Affordable Housing and Community Development; Business Law Section; Real Property, Trusts, and Estates Section)

Karen M. Tiedemann

Contact Information

Karen M. Tiedemann Attorney ktiedemann@goldfarblipman.com 510-836-6336

Karen Tiedemann practices in the areas of real estate transactions, affordable housing, nonprofit organization, and environmental law.

Ms. Tiedemann advises public agencies and nonprofit housing developers on affordable housing matters. She represents numerous agencies and nonprofit corporations on the development, financing and management of low- and moderate-income projects and programs. Her affordable housing work includes advising clients on compliance with fair housing laws. Ms. Tiedemann is a frequent speaker on relocation and fair housing issues. She is also a co-author of Between the Lines, a Question and Answer Guide on Fair Housing in Supportive Housing, which was updated in 2010.

Ms. Tiedemann represents numerous housing cooperatives, providing advice on compliance with Davis-Stirling, the limited equity cooperative law, HUD financing, Department of Real Estate regulations, and other laws and regulations impacting cooperatives. She has also formed numerous limited equity cooperatives. Ms. Tiedemann is a frequent speaker on the formation and management of cooperatives.

Ms. Tiedemann has negotiated and drafted transaction documents for complex developments involving multiple uses, including transactions that involved the acquisition of numerous properties and the relocation of business and residential tenants. She also advises clients on compliance with environmental laws, including shepherding developments through CEQA.

Additionally, as general or special counsel to several public agencies, Ms. Tiedemann provides advice on compliance with the Brown Act, the Fair Political Practices Act and Public Records Act, as well as general law questions.

Education

A.B., University of California, Berkeley
Masters in City Planning, University of California, Berkeley
J.D., University of California, Berkeley School of Law, Order of the Coif honors
Associate Editor, Ecology Law Quarterly

Professional and Volunteer Affiliations