Jerome L. Garciano

Associate

  • Overview

    Biography

    Jerome Garciano focuses his practice on real estate transactions and financing, affordable housing, renewable energy, green building, sustainability, and tax credits. Mr. Garciano, a member of the firm’s Real Estate + Development Group, represents a range of clients, including lenders, equity investors, owners, and developers, for real estate and project finance transactions.

    Real Estate Development and Finance

    Mr. Garciano advises clients in real estate project and finance structuring, and he conducts all related due diligence and transaction documentation. He has extensive experience in assisting clients with finance matters related to development, including handling complex, multi-million dollar loans. He recently represented a national affordable housing lender in connection with a $13 million loan for a 120-unit senior housing U.S. Housing & Urban Development (HUD) Rental Assistance Demonstration (RAD) conversion transaction.

    Affordable Housing and Community Development

    Mr. Garciano represents for-profit and non-profit organizations in affordable housing and community development project finance transactions. He assists in coordinating financing from multiple income sources, enabling projects to succeed. He recently represented a local housing authority developer on a $24 million transaction, utilizing low-income housing tax credits, state housing finance agency financing, and state department of housing subordinate debt.

    Renewable Energy and Green Building

    Mr. Garciano assists clients with renewable energy, microgrid, and energy efficiency project and finance structuring, due diligence and transaction documentation. He has represented a regional bank on a construction loan financing on a 26MW portfolio of distributed generation photovoltaic solar projects throughout the northeastern United States. He regularly contributes to the firm’s blog, Sustainability Practice Center on LinkedIn.

    Tax Incentives and Tax Credit Financing

    Mr. Garciano advises clients on tax incentives and tax credit financing structures, including tax credits related to low-income housing, historic status, energy investment, and new markets. He provides guidance to clients on all federal and state tax incentives. Mr. Garciano has provided assistance with several nonprofit-sponsored real estate transactions financed with New Markets Tax Credit financing, including education, health, and community services facilities. He is a LEED accredited professional and has advised clients on utilizing energy efficiency and renewable energy tax incentives. He recently represented a real estate developer and green builder in the sale and transfer of a state green building tax credit achieving Leadership in Energy and Environmental Design (LEED) requirements. He also works on tax policy initiatives promoting green energy and real estate development.

    Mr. Garciano is a certified public accountant. Prior to becoming a lawyer, he worked as a finance associate at The Community Builders, Inc., a national nonprofit organization, and at Recap Advisors, a nationally recognized affordable housing financial services firm. In addition, Mr. Garciano worked for architectural design firms after graduating from architecture school.

    Mr. Garciano volunteers with the U.S. Green Building Council’s Legacy Project, which provides a green facilities management training and career track for students and young adults in under-resourced neighborhoods in Boston.
     

  • Experience
    • Experience

      Experience

      • Represented an institutional lender providing a $22,000,000 construction loan to an affiliated group of borrowers to fund the construction costs associated with the design, procurement, and installation of 26MW commercial rooftop solar array projects for two Fortune 50 companies to be located on 60 commercial buildings in four states and secured by all assets of the borrowers, including their respective rights under all contracts with equipment procurement contractors (EPCs), power purchase agreements, renewable energy certificates, agreements relating to federal investment tax credits, interconnection agreements and maintenance agreements. The contemplated refinancing of this transaction involved the placement of permanent senior loan financing from an institutional lender, a tax credit equity investment (in the form of a "partnership flip" which involved the creation of special purpose entities) from an institutional investor and the associated intercreditor, interparty and other third party issues related thereto.

      • Represented national affordable housing lender on $13 million loan for a 120-unit senior housing U.S. Housing & Urban Development (HUD) Rental Assistance Demonstration (RAD) conversion transaction.

      • Represented an insurance company investor on a series of investment tax credit wind energy projects in Rhode Island. 

      • Represented a local housing authority developer on a $24 million transaction, utilizing low-income housing tax credits, state housing finance agency financing and state department of housing subordinate debt.

      • Represented a regional bank on a construction loan financing on a 26MW portfolio  of distributed generation photovoltaic solar projects throughout the northeastern United States.

      • Represented a real estate developer and green builder in the sale and transfer of a state green building tax credit achieving Leadership in Energy and Environmental Design (LEED) requirements.

      • Represented a community land trust in its initial formation and for acquisition of community assets for the preservation of affordable housing. 

      • Affordable Housing

      • Represented a national bank in its role as a lender for the Cambridge Housing Authority's (CHA) first four Rental Assistance Demonstration (RAD) conversion deals. The bank closed the tax-exempt bond financing for 511 units of public housing conversions under HUD's RAD program. The RAD program was created to give public housing authorities a tool to preserve and improve public housing properties by restructuring HUD subsidies into long-term contracts that facilitate the private financing of improvements. These first four transactions are part of a long-term project to convert all 2,129 of CHA's public housing units to RAD. The bank is the top affordable housing finance provider in the country, lending $3.2 billion in 2014.

    • Professional Associations

      Professional Associations

      American Bar Association

      American Institute of Architects

      American Institute of Certified Public Accountants

      Boston Bar Association

      Boston Society of Architects
    • Community Involvement

      Community Involvement

      Member of Winchester Housing Partnership Board
  • NEWS + PRESS
    • News

      R+C in the News

      • May 16, 2017

        Real Estate Lawyers Participate in ABA RPTE Spring Symposia

        • » more info
      • April 18, 2016

        Jerome Garciano Hosts Sustainability Event in Boston Office

        • » more info
      • June 5, 2015

        Robinson+Cole Is a Sponsor of NYSAFAH Conference

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      • April 17, 2015

        Robinson+Cole Represents National Bank in HUD Rental Assistance Demonstration Conversion Deals with Cambridge Housing Authority

        • » more info
      • August 14, 2014

        Robinson+Cole Lawyers Host Networking Event at 2014 ABA Annual Meeting

      R+C News Releases

      • February 1, 2016

        Robinson+Cole Forms Sustainability Cross-Practice Team

        • » more info
        • View article
      • July 17, 2014

        Robinson+Cole Welcomes Six New Lawyers

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        • View article
    • Newsletters

      Newsletters

      Green Tax Incentive Compendium (1/1/16)