Scott E. Fireison
Scott E. Fireison is a partner in the Washington, D.C. office of Pepper Hamilton LLP and co-chair of the firm’s Affordable Housing and Community Development Practice Group.
Mr. Fireison represents public and private, for-profit and nonprofit organizations in connection with their purchase, sale, development, financing, investment and operational activities, and their compliance with the multitude of affordable housing programs, including federal, state and local grants, mortgage insurance, interest subsidy, project and tenant-based rental subsidies, tax-exempt bonds and low income housing tax credits. He has negotiated and closed the terms of sale, investment and financing for residential and commercial projects, and the agreements for development and management for multifamily housing throughout the country.
Mr. Fireison has represented:
Mr. Fireison also assists lenders in the origination and sale of loans under Fannie Mae and other private mortgage conduit multifamily programs.
- for-profit and nonprofit developers in new construction and substantial rehabilitation, including low income housing tax credits (LIHTC), the new markets tax credit (NMTC), and historic tax credits, with and without tax-exempt bonds
- developers and owners in Section 236 “decouplings”, Section 202 redevelopment and prepayments, acquisition/redevelopment of LIHPRHA and ELIHPA projects, Mark-to-Market restructurings and Section 8 renewals and modifications
- public and nonprofit clients with regard to joint venture and mixed finance structures, including public/private partnerships, with and without HOPE VI, and nonprofit/for-profit partnerships combining tax credits, tax-exempt bonds and other federal housing programs, including HOME, Section 8, Section 236 IRP, Section 515 and Section 202
- borrowers and issuers in both rated and unrated/insured tax exempt bond financings pursuant to Sections 142 and 145 of the Internal Revenue Code, and redevelopment transactions involving redemption of 11b Bonds
- lenders and borrowers in financing, refinancing and Partial Payment of Claim (PPC) and mortgage modification transactions involving mortgages insured by the U.S. Department of Housing and Urban Development pursuant to Sections 223(a)(7), 221(d)(3), 221(d)(4) and 223(f) of the National Housing Act
- nonprofit multifamily property owners in their qualification for tax exempt status, organization of subordinate entities and compliance with the requirements of Section 501(c)(3) of the Internal Revenue Code.
Prior to joining Pepper, Mr. Fireison practiced as a certified public accountant in the national multifamily housing practice of a large accounting firm, where he assisted in the preparation of SEC filings for the syndication of low income housing tax credits and in the development of procedures for the review of HUD regulated housing projects.
Mr. Fireison is a “Red Book”-listed attorney, has published several articles on HUD-assisted housing, nonprofit organizations and related tax matters, and is the principal author of Pepper’s Housing Update, a newsletter analyzing current multifamily and affordable housing legislative, regulatory and policy developments. He also is a member of the board of directors of the Institute for Responsible Housing Preservation, and a frequent lecturer at seminars on federal housing programs and public finance.
Recent speaking engagements and articles by Mr. Fireison include:
- "Housing Update," Real Estate Finance Journal, (a review of RAD, Post-M2M, Section 202, Flexible Subsidy, and Section 8) Thompson/West, Fall 2012
- “HUD Launches its 223(f)/Low-Income Housing Tax Credit Pilot Program,” Real Estate Finance Journal Thompson/West, Summer 2012
- “Redevelopment of Mark-to-Market Properties,” Novogradac Journal of Tax Credits, June 2011
- “Partial Payment Claims Processing, FHA Modernization and PETRA – Signs of Innovation at HUD,” Consumer Finance Law, Quarterly Report, Conference on Consumer Finance Law, Vol. 64, No. 4, Winter 2010
- “Programmatic Updates for HUD-Subsidized, OAHP-Restructured, FHA-Financed and Other Affordable Housing,” Martindale Hubbell, April 2008
- “New Rules Likely to Spur CDBG Use in Brownfields” (co-author), Martindale Hubbell, August 2007
- “Affordable Housing, Mixed Finance for Public Housing and Nonprofits, Mark-to-Market and FHA Lending,” Real Estate Finance Aspen Publishers, Vol. 23, Number 4, December 2006
- “Nonprofit Low Income Housing Tax Credit Joint Ventures,” Practical US/Domestic Tax Strategies Volume 6, Number 10, October 2006
- “Latest on Lockout Overrides and Mortgage Modifications in the Affordable Housing Industry,” Martindale Hubble, May 2006
- “Developments Relating to Affordable Housing, Mixed-Finance Senior and Public Housing, Low Income Housing Tax Credits and FHA Lending,” Real Estate Finance Journal, West Group, Fall 2005
- “Public Housing - OIG Report,” Real Estate Finance Journal, West Group, Fall 2004
- “Section 202 Mixed Finance,” Real Estate Finance Journal, West Group, Fall 2004
- “Financing Affordable Housing: Section 202 Basics,” Real Estate Finance, Aspen Publishers, Vol. 21, Number 2, August 2004
- “Section 202 Basics,” presented at ABA Forum on Affordable Housing and Community Development Law, Washington, DC, May 20-21, 2004
- “Recent Financing Developments Relating to Affordable Housing, Mark-to-Market, Section 8 Vouchers, FHA Insurance and Low Income Housing Tax Credits,” Real Estate Finance Journal, West Group, Winter 2004
- “Recent Financing Developments Relating to Affordable, Nonprofit and Elderly Housing,” Real Estate Finance Journal, West Group, Summer 2003
- “Section 202 Changes Spur Activity,” Housing Bond Report, May 2003
- “IRS Offers Additional Guidance to LIHTC Not-for-Profits,” Housing Bond Report, December 2002
- “IRS Ponders New Rules for Tax Credits and 501(c)(3) Organizations,” Housing Bond Report, September 2002
- “Low-Income Housing Tax Credits and Bonds: Recent Rulings for Non-Profit Joint Ventures,” Housing Bond Report, Part I August 1999 and Part II September 1999
- “Mark-to-Market Basics, Is This Program for You?,” Multifamily Executive, August 1999.
B.S. 1992 University of Maryland, College Park
J.D. 1996 George Washington University Law School
Admitted to practice in District of Columbia and Maryland