Representations

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. 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. 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 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 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. 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. 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. 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 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 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.