Jean has substantial public and private transactional experience including serving as bond counsel to issuers of tax-exempt bonds in New York State, representing closely held companies in business transactions, assisting developers in acquisition, financing and development of affordable housing and commercial projects and teaming with the not-for-profit lender at a regional bank on credit enhancement or directly purchased tax-exempt bonds and other lending transactions with not-for-profit borrowers often involving draw down bonds and interest rate swaps.
Jean is counsel to not-for-profit borrowers in tax-exempt revenue bond and taxable loan transactions including tax-exempt financing for a charter school in Buffalo, taxable financing for a university’s long-term capital projects and tax-exempt financing for renovation of existing independent living facilities and construction of community center.
Jean is a member of the Firm’s Opportunity Zones team.
Representative Transactions
- Counsel to family-owned business operating in seven states on inter-family sale of stock of operating entity and membership interests in real property owner entities.
- Advised developer on liquidation of equity interests in various joint ventures.
- Represented reginal bank in amendment of various credit facilities in connection with phase out of LIBOR>
- Advised local nonprofit on joint venture with public housing authority and master developer on proposed Purpose Built redevelopment of approximately 1,100 to 1,400 units of new or rehabilitated housing to replace the 1,037 units of deteriorated public housing on 4 public housing sites and creation of a new highly amenitized neighborhood with wellness and educational components.
- Counsel to developer in establishing a Qualified Opportunity Fund and offering equity interests in the fund for indirect investment in a business constructing and operating a mixed-use project in Syracuse, New York.
- Advised several developers on formation of Qualified Opportunity Funds and Qualified Opportunity Zone Businesses.
- Represented closely-held family company on sale of line of business and related assets.
- Underwriter’s counsel for Madison County Capital Resource Corporation Taxable Revenue Bonds (Colgate University Refunding Project), Series 2019 .
- Underwriter’s counsel for City of Albany Capital Resource Corporation Tax-Exempt Revenue Bonds, (Albany Leadership Charter High School for Girls Project), Series 2019.
- Bond counsel to City of Syracuse Industrial Development Agency in connection with issuance of School Facility Revenue Bonds (Syracuse City School District Project Series 2018A, Series 2018B and Series 2019A to finance Phase II of the comprehensive redevelopment program (the “Program”) for the Syracuse City School District Schools issued in four transactions in 2018 through 2020.
- Represented individual owners in sale of municipal services company operating in 48 states.
- Represented regional bank in direct purchase of tax-exempt guaranty revenue bonds to refund tax-exempt bonds issued to finance a 150 unit continuing care retirement community secured by a mortgage, revenue pledge and parent
- Represented not-for-profit sponsor, managing member and owner entity in development and financing of a 50 unit affordable residential rental project with 30 units to be rented to individuals recovering from serious mental illness involving 4% low income housing tax credits, tax-exempt revenues bonds and a subordinate taxable mortgage loan, a construction period letter of credit, permanent credit enhancement by SONYMA and capital and operating subsidy provided by NYS Office of Mental Health.
- Bond counsel to New York State Housing Finance Agency and performed tax review under Code Section 103 in connection with issuance of $68,880,000 Affordable Housing Revenue Bonds, of 2018 Series B (Climate Bond/Certified Green Bonds) and the $19,010,000 Affordable Housing Revenue Bonds, 2018 Series C to finance construction or renovation of three qualified residential rental projects.
- Bond counsel to Dormitory Authority of the State of New York and performed tax review and analysis under Code Section 103 in connection with issuance of $16,190,000 InterAgency Council Pooled Loan Program Revenue Bonds to finance facilities for the developmentally disabled owned and operated by six not-for-profit service providers.
Presentations and Publications
- Author, White Paper Aging Infrastructure and Unemployment: The Erie Canal and WPA July 2020
- Presenter, Enhancements to Opportunity Zone Incentives, CenterStates CEO, March 2020.
- Presenter, Opportunity Zones Program, CenterStates CEO, July 2019.
- “Private Activity Bonds Repeal – The True Cost of Tax Reform,” Buffalo Law Journal, December 2017
- Co-Author, “Impact of Tax-Exempt Bond Rules on Alternate Uses of School Facilities,” The Reporter, NYS Association of School Board Officials, Summer 2014
- Co-Author, “The Case of Gibson Plaza: Preserving Affordability in the Nation’s Capital,” Journal of Housing and Community Development, June 2011″Impact of Tenant Bankruptcies,” National Association of Produce Market Managers, May 2, 2005
- Presenter, “Public/Private Development Partnerships,” Lorman Education Services, December 2004
Prior Experience
Barclay Damon, LLP
Community Action Committee of the Lehigh Valley
Everett Law Office
District of Columbia Housing Authority
Pyramid Management Group
City of Syracuse Department of Aviation
