Representations

Charity & Associates, P.C. represented the City of Chicago as co-bond counsel in connection with the offering and sale by the City of Chicago of its $420,155,000 aggregate principal amount of Chicago O’Hare International Airport General Airport Third Lien Revenue Bonds, Series 2011A, its $295,920,000 aggregate principal amount of Chicago O’Hare International Airport General Airport Third Lien Revenue Bonds, Series 2011B, and its $283,925,000 aggregate principal amount of Chicago O’Hare International Airport General Airport Third Lien Revenue Bonds, Series 2011C.

Charity & Associates, P.C. acted as borrower’s counsel to the Chicago Transit Authority in connection with its Transportation Infrastructure Finance and Innovation Act (TIFIA) financing of its Your New Blue project.

The firm’s attorneys served as co-underwriter’s counsel in connection with the Board of Education of the City of Chicago’s issuance of its $89,200,000 Unlimited Tax General Obligation Refunding Bonds (Dedicated Alternate Revenues), Series 2015A and $88,900,000 Unlimited Tax General Obligation Refunding Bonds (Dedicated Alternate Revenues), Series 2015G.

Charity & Associates, P.C. served as developer’s counsel to Turnstone Development Corporation for the construction of a development located in Northlake, Illinois, which when completed will provide seventy-one (71) units of affordable housing to low and moderate-income seniors. The subject development is financed by low-income housing tax credit equity, private bridge loan financing, Cook County, Illinois HOME funds, and Illinois Housing Development Authority HOME funds

Charity & Associates, P.C. served as lender’s counsel to Bank of America, N.A. in making a low-income housing tax credit and tax increment financing bridge loan to finance in part the lease and development of Chicago Housing Authority real property to develop seventy-six (76) rental units of affordable housing in Chicago, Illinois. The subject development is financed by low-income housing tax credit equity, City of Chicago tax increment financing, private bridge loan financing, and Chicago Housing Authority loan financing.

Charity & Associates, P.C. served as lender’s counsel to BMO Harris Bank N.A. in bridging federal and State of Illinois historic preservation tax credit equity and federal low-income housing tax credit equity to finance in part the development of sixty (60) units of rental housing and related improvements to benefit seniors in Aurora, Illinois. The firm’s attorneys also represented BMO Harris Bank N.A. in making a secured affordable housing program grant on behalf of the Federal Home Loan Bank of Chicago to provide additional project financing. The development is also financed by an Illinois Housing Development Authority Credit Advantage loan and a City of Aurora, Illinois HOME Investment Partnership Act loan.

Charity & Associates, P.C. represented the Chicago Transit Authority as underwriters’ counsel in connection with the issuance of its $44,645,000 principal amount of Sales Tax Receipts Revenue Bonds, Series 2010A and $505,355,000 principal amount of Sales Tax Receipts Revenue Bonds, Taxable Series 2010B (Build America Bonds). For these transactions, Charity & Associates, P.C. assisted the Chicago Transit Authority in the preparation of disclosure meeting the ever evolving requirements as promulgated by the Securities and Exchange Commission and the Municipal Securities Rulemaking Board (MSRB).

Charity & Associates, P.C. represented the Board of Education of the City of Chicago as bond counsel in connection with the bond insurance substitution and remarketing of its $183,485,000 Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2005D. For this transaction, Charity & Associates, P.C. negotiated the termination of the existing bond insurance policy and contracted for the replacement bond insurance policy.

Charity & Associates, P.C. represented The County of Cook, Illinois as co-bond counsel in connection with the issuance of its $90,000,000 aggregate principal amount of Sales Tax Revenue Bonds, Series 2012. This transaction included the structuring and creation of a master trust indenture for The County of Cook, Illinois’ new sales tax credit securing the bonds, which credit received Standard & Poor’s “AAA” rating.

Charity & Associates, P.C. represented the City of Chicago as co-bond counsel in connection with its issuance of $92,280,000 General Obligation Bonds, Series 2010A (Modern Schools Across Chicago Program) (Tax-Exempt) and $57,825,000 General Obligation Bonds, Taxable Series 2010B (Modern Schools Across Chicago Program) (Build America Bonds – Direct Payment). For these transactions, Charity & Associates, P.C. worked with the City of Chicago, in conjunction with the Board of Education of the City of Chicago, for the improvements and development of elementary and high schools throughout the City of Chicago.

Charity & Associates, P.C. represented the State of Illinois as co-bond counsel in connection with the issuance of its $402,000,000 Build Illinois Bonds (Sales Tax Revenue Bonds), Taxable Series of March 2014, its $350,000,000 General Obligation Bonds, Taxable Series of December 2013, its $604,110,000 Build Illinois Bonds (Sales Tax Revenue Bonds), Junior Obligation Series of June 2013, and $575,000,000 General Obligation Bonds, Series of March 2012. For these transactions, Charity & Associates, P.C. assisted the State of Illinois in the issuance of its bonds by negotiated sale, and competitively bid; as tax exempt, and taxable; secured as general obligation bonds, subordinate bonds and as revenue bonds.

Charity & Associates, P.C. represented the Chicago Housing Authority on each phase of the financing and development of the Oakwood Shores development located in Chicago, Illinois. The firm also represented Bank of America, N.A. in issuing a direct pay letter of credit to provide liquidity for the City of Chicago’s Variable Rate Demand Multi-Family Housing Revenue Bonds (Oakwood Shores Senior Apartments Project) Series 2010 to provide financing for the senior apartments component of the Madden Wells/Oakwood Shores development.

Charity & Associates, P.C. served as counsel to Rosenwald Courts Apartments, LP in connection with obtaining zoning approval for the redevelopment of the historic Rosenwald Courts development in Chicago, Illinois. When completed, the existing 454-unit vacant building will have been converted into 239 units of senior and family housing, approximately 40,000 square feet of retail and office space and three parking lots offering approximately 150 parking spaces.

Charity & Associates, P.C. represented Bank of America, N.A. in connection with a revolving credit construction mortgage loan and tax increment financing bridge loan to Park Boulevard, LLC for the construction of a 311-unit mixed use for-sale residential/commercial development and ancillary improvements located in Chicago, Illinois. As lender’s counsel, our role was to draft and negotiate loan documents, review all development related diligence including the borrower’s limited partnership agreement and organizational documents, draft intercreditor agreements with subordinate lenders, and negotiate terms of the tax increment financing redevelopment agreement that governed the City of Chicago tax increment financing.

Charity & Associates, P.C. served as counsel to Pershing King Drive LLC to obtain a zoning map amendment for the property commonly known as 3857 S. Martin Luther King, Chicago, Illinois to permit the development of a Mariano’s grocery store on the subject site. As zoning counsel to the developer, our firm applied for and obtained a change in zoning from split RM-5 Residential Multi-Unit District, POS-1 Parks and Open Space District zoning classifications, to a B3-3 Community Shopping District zoning classification and ultimately to a Business Planned Development. The firm’s representation of Pershing King Drive LLC included applying for a zoning map amendment, coordinating plan review by the City of Chicago Department of Planning and Development and the City of Chicago Department of Transportation, and presenting the zoning matter before the Chicago Plan Commission.

Charity & Associates, P.C. served as counsel to McDonald’s USA, LLC in connection with the development of a new approximately 5,349 square foot McDonald’s restaurant with a dual lane drive-through facility, two order stations, two service windows and accessory, on-site parking for approximately thirty-one (31) motor vehicles in Chicago, Illinois. As developer’s counsel our firm applied for and obtained special use zoning approval from the City of Chicago Zoning Board of Appeals. The firm’s representation of McDonald’s USA, LLC included applying for special use zoning approval, coordinating plan review by the City of Chicago Department of Planning and Development and the City of Chicago Department of Transportation, and presenting the zoning matter before the City of Chicago Zoning Board of Appeals.

Charity & Associates, P.C. represented Bank of America, N.A. in connection with a construction/bridge loan, a permanent loan and an Affordable Housing Program (AHP) grant to Elgin Artspace Lofts Limited Partnership to finance in part the construction and operation of a residential/commercial development located in Elgin, Illinois. Elgin Artspace Lofts consists of 55 units of affordable living and work spaces for artists in the Elgin, Illinois area, as well as retail and commercial space for arts-friendly businesses and nonprofit organizations.

Charity & Associates, P.C. represented BMO Harris Bank N.A. in connection with the issuance of a direct pay letter of credit to provide liquidity and security for the Illinois Finance Authority’s issuance its Variable Rate Demand Multi-Family Housing Revenue Refunding Bonds (Concordia Place Apartments Project), Series 2013A to finance in part the acquisition and renovation of a 297 unit, 29 building multi-family housing complex in Chicago, Illinois.

Charity & Associates, P.C. represented U.S. Bank National Association in connection with a construction/bridge loan to Pedcor Investments – 2012-CXXXI, L.P., the proceeds of which were used to collateralize the principal amount of Multifamily Housing Revenue Bonds (William Cannon Apartments) Series 2014 issued by the Travis County Housing Finance Corporation to finance the construction of a 252-unit affordable housing apartment project in Austin, Texas. As lender’s counsel, our role was to draft and negotiate loan documents, review all documents relating to the issuance of the bonds and the coordination of the use of U.S. Bank’s construction loan proceeds and bond proceeds, review all development related diligence including the borrower’s limited partnership agreement and organizational documents, and draft and negotiate intercreditor agreements with subordinate lenders.

Charity & Associates, P.C. represented the Chicago Transit Authority in negotiations with the developer of the commercial development known as “Block 37” located in downtown Chicago with respect to the proposed incorporation into the Block 37 development a transit station to provide express rail service to the City of Chicago’s Midway and O’Hare Airports.

Charity & Associates, P.C. served as co-bond counsel in connection with the Board of Education of the City of Chicago’s issuance of its $725,000,000 Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2016A.

Charity & Associates, P.C. represented Bank of America, N.A. in connection with a construction/bridge loan to City Hall Artist Lofts Limited Dividend Housing Association Limited Partnership to bridge low-income housing and federal historic preservation tax credit equity for the construction of a residential/commercial development to be located in Dearborn, Michigan. Our firm also represented IFF, a regional non-profit lender, in making a land acquisition loan and a bridge loan to bridge grant funds to finance in part the acquisition and construction of the development.