Timothy J. Aluise is a principal and founding member of Hessel Aluise and Neun, PC. He has practiced in the field of affordable housing since 1980. His clients include a full complement of active players in the multifamily industry: both for profit and nonprofit developers, FHA, Fannie Mae and Freddie Mac lenders, state and local housing finance agencies, public housing authorities, national trade associations, tax credit investors, affordable housing management companies, tenant associations and Wall Street underwriters. His practice is on a national basis, and he is often involved as special HUD counsel in sophisticated transactions.
Tim has been involved in every major multifamily HUD program since 1980, often playing a formative role in protecting his client’s interests as programs are developed and helping clients develop strategic business plans to maximize the profit or programmatic potential of federal programs. In additional to transactional matters, he is also active on Capitol Hill and with HUD to implement and improve housing legislation and administrative policy for his clients.
Tim has served as a columnist for several real estate publications, speaks widely in the field, and has participated as a member of several national and local housing policy task forces. He has also served as chairman of the board of a nonprofit housing developer in Washington, DC. Tim is a member of the Forum on Affordable Housing and Community Development Law of the American Bar Association, is the former chair of the Assisted Housing Practice of the Forum, and is currently co-chair of the Affordable Housing Preservation Committee of the Forum. Tim has also served on the Multifamily Steering Committee of the Mortgage Bankers Association and is a Trustee of the National Housing Conference. Tim is a former Assistant Clerk of the United States Supreme Court.
District of Columbia
JD, University of Notre Dame Law School, 1980
BS, Georgetown University, College of Arts and Sciences, 1977
In over 30 years of practice, Tim has represented clients in the following types of matters and in the practice areas listed to the right:
- All FHA multifamily, nursing home, and hospital mortgage insurance programs (including 221(d)(4), 221(d)(3), 223(f), 223(a)(7), 241, 232 and 242).
- Section 8 issues for both project based and voucher programs including strategies for implementing subsidy rent increases, mark down to market transactions, transferring subsidy to other projects, opt outs, extensions, reduction of units, and increase in limited distributions.
- Restructuring and recapitalizing projects with HUD subsidized mortgages, (i.e. Section 236, 221(d)(3)and 202).
- Structuring transactions for affordable housing preservation, including those projects under the following programs: ELIPHA, LIHPRHA, Mark-to-Market, Section 236 decouplings, and Section 202 refinancings.
- Structuring public/private developments including those involving public housing agencies such as HOPE VI and other leveraged structures.
- Advising clients on how to maximize development proceeds and mix multiple subsidy programs such as use of Section 42 low income housing tax credits, Section 8, HOME, CDBG, and 202 capital grants and tax exempt bonds.
- Advising financial institutions on how to comply with HUD and GNMA requirements to be approved as a FHA lender or GNMA approved issuer or continue such status.
- Undertaking portfolio reviews of subsidized projects to advise clients how to maximize benefits under federal housing programs through sale or recapitalizations.
- Obtaining HUD approvals and waivers for innovative sale, development, and/or financing structures.
- Implementing statutory changes in housing laws to make programs more efficient or enable one time transactions to close.
Information at a Glance
Timothy J. Aluise
Hessel Aluise and Neun, PC
1100 17th Street, NW
Washington, DC 20036
202.466.5300 x 202