Reno & Cavanaugh PLLC

Martin Walsh is a Member of Reno & Cavanaugh whose practice focuses on affordable housing development and operations, with an emphasis on public housing authorities. Martin represents housing authorities across the country in complex redevelopment projects that combine HOPE VI or public housing capital funds with federal low-income housing tax credits, tax exempt bonds, HOME funds and other public and private sources of development funds. He is a faculty member of the National Association of Housing and Redevelopment Officials and teaches seminars on public housing development involving low-income housing tax credits. Martin is also a frequent speaker at industry conferences on public housing development issues and PHAs use of affiliates and instrumentalities in development activities.

Selected Recent Transactions

Closed largest mixed-finance transaction in Indiana history, involving 538 units, and also including an innovative self-financed energy performance contract that will increase the energy efficiency of the redevelopments by making needed greening improvements to public housing stock. In addition to the financing relating to the energy performance contract, the other financing involved a seller financing loan and three sources of funding under the American Recovery and Reinvestment Act of 2009: Tax Credit Assistance Program funding, Section 1602 Tax Credit Exchange funding, and Capital Fund Recovery Competition funding.
Closed a rental transaction in New Jersey that involved 85 units, 60 of which were project-based voucher units and 25 were public housing units. The financing involved Tax Credit Assistance Program funding and Section 1602 funding under the American Recovery and Reinvestment Act of 2009 as well as Replacement Housing Factor funds, HOME funds, and Low-income Housing Tax Credit equity.
Closed a rental transaction in Washington, DC consisting of 92 project-based housing choice voucher units and 64 low income housing tax-credit-only units. The innovative financing structure included long term FHA-insured multifamily housing revenue bonds, a portion of which will be redeemed in a few years to convert the project-based housing choice voucher units to public housing units.
Closed a transaction in Stamford, Connecticut, consisting of 34 public housing units, 12 tax credit only units and 10 market rate units. Financing for this development was comprised of a mix of HOPE VI funds, purchase money financing by the Authority and equity raised through the syndication of low-income housing tax credits.

Major Prior Work Experience

Martin formerly worked as a staff attorney at Regional Housing Legal Services, a non-profit legal services organization in the Philadelphia, PA area, providing supportive legal services and strategic advice to Pennsylvania-based non-profit organizations. Prior to that time, Martin was a Teach For America Corps Member, through which he worked as a high school teacher for behavior disorder students in southern Louisiana. During law school and business school, Martin also worked with The Reinvestment Fund in Philadelphia, PA and Penn Legal Assistance.

Regional Housing Legal Services, Glenside PA, Staff Attorney
The Reinvestment Fund, Philadelphia PA, Summer Associate
Penn Legal Assistance, Philadelphia PA, Summer Associate
Teach for America, Reserve, LA, Teacher

Speaking Engagements/Publications

Panelist, “The Development Landscape for PHAs.” CLPHA conference, March 2011.
Instructor, “Beyond the Basics: Mixed Finance Development for Public Housing Authorities.” Seminar, NAHRO, Washington, DC, March 2011.
Speaker, "Mixed-Finance Development." Midwest NAHRO Conference, Indianapolis, IN, April 2010.
Instructor, "Low-income Housing Tax Credits." Seminar, NAHRO National Conference, Portland, OR, July 2009.
Speaker, "Introduction to Low-income Housing Tax Credits." Seminar, Housing Justice Network, Washington, DC, December 2008.
Instructor, "Low-income Housing Tax Credits." Seminar, NAHRO National Conference, Nashville, TN, July 2008.
Moderator, "Avoiding Sticky Situations: Key Points to Successful Development by PHAs and PHA Instrumentalities." NAHRO National Conference, Nashville, TN, July 2008.
Instructor, "Low-income Housing Tax Credits." Seminar, NAHRO, Toledo, Ohio, April 2008.
Speaker, "Introduction to New Markets Tax Credits." Key Bank Partners in Housing and Economic Revitalization, November 2007.
Speaker, "Smooth Sailing with Mixed-Use Projects and New Markets Tax Credits." NAHRO Professional Development Seminar, October 2007.
Instructor, "Low-income Housing Tax Credits." Seminar, NAHRO National Conference, San Diego, CA, October 2007.
Speaker, "New Markets Tax Credits 101." Housing Association of Nonprofit Developers, September 2007.
Co-taught a Continuing Legal Education course for Pennsylvania Legal Services attorneys on low-income housing tax credit compliance issues

Awards, Community Activities And Professional Activities

Member, American Bar Association Forum on Affordable Housing and Community Development Law
Member, National Association Housing and Redevelopment Officials
Member, District of Columbia Building Industry Association (DCBIA)
Independence Foundation Public Interest Legal Fellowship
Served on the Policy Committee for the Philadelphia Association of Community Development Corporations and Trust Fund Subcommittee regarding the creation of an Affordable Housing Trust Fund in Philadelphia
Wharton Community Consultants Co-President
Penn State University Commencement Marshall (Philosophy Department)
Penn State University Big Ten Scholar/Athlete Award
Penn State University Phi Beta Kappa
Penn State University Rhodes/Marshall scholarships finalist