The attorneys in Ballard Spahr's Public Finance Department and its Energy and Project Finance Group and Housing Group are at the forefront of energy performance contract (EPC) financings by public housing authorities (PHA), closing the first EPC/PHA financing in the nation for the Housing Authority of the City and County of Denver.

Our attorneys have extensive experience in energy-related affordable housing financings, and we are able to counsel PHAs with respect to the legal complexities that are a part of utilizing an EPC. Our combined strengths in affordable housing, energy, and public finance, coupled with our experience representing several of these authorities in numerous affordable housing transactions, results in a unique depth of appreciation and understanding of the legal issues facing PHAs in energy performance contracting. Our close working relationships with HUD officials enhance our representation of PHAs in connection with EPC financings.

Ballard Spahr attorneys are devoted to providing a practical way for PHAs to obtain energy-saving upgrades for their facilities and public housing projects, and to finance them without upfront capital costs and the costly special appropriations otherwise necessary to pay for the energy-efficient improvements. We are experienced in combining EPC financings with many other innovative housing and energy financing programs.

We are committed to helping our PHA clients take advantage of all possible opportunities in their financings, and enthusiastic about assisting them in their mission of meeting the housing needs of their communities. Our PHA clients can provide safe, clean, affordable housing while simultaneously attaining worthwhile goals of energy conservation and sustainability.

Qualified Energy Conservation Bonds

Ballard Spahr's experience with EPCs includes financings using tax-exempt bonds such as Qualified Energy Conservation Bonds (QECBs), created to stimulate the economy, and the use of Clean Renewable Energy Bonds (CREBs). Ballard Spahr is proactive in working with our clients to help them benefit from the provisions of current legislation, including such PHAs as the Housing Authorities of the City and County of Fresno, King County Housing Authority, New York City Housing Authority, Philadelphia Housing Authority, Housing Authority of Portland, The Housing Authority of the City and County of San Francisco, the Oakland Housing Authority, Boulder Housing Partners, Santa Fe Civic Housing Authority and the Tucson Housing Authority.

Obtaining HUD Approvals for Public Housing Authorities

Ballard Spahr brings extensive and concentrated experience to conventional and governmental assisted and insured financing of multifamily and mixed-use projects and seniors facilities. Ballard Spahr’s HUD-Insured Lending Team represents PHAs and provides counsel on all aspects of HUD-insured financing transactions, providing knowledgeable and practical assistance with structuring, closing, and servicing HUD-insured loans, as well as with mortgage loan assignments to HUD, partial payments of claims and other default resolution issues.

Our work includes acquisition, rehabilitation, refinancing, and new construction loans; tax-exempt bond financings credit enhanced by HUD mortgage insurance and/or Government National Mortgage Association (GNMA) mortgage-backed securities; IRP decoupling transactions; Section 8 Housing Assistance Payment (HAP) Contracts; EPC subsidy approvals, and transfer of physical assets (TPA) applications. We are experienced in all of HUD’s multifamily and seniors products, including Sections 221(d)(4), 223(a)(7), 223(f), 232, 236, and 241 of the National Housing Act and with the related tax, securities, environmental and other legal issues associated with HUD transactions.

Ballard Spahr attorneys have served as bond counsel and/or special counsel on HUD matters to over 60 PHAs throughout the country, including the following:

  • Chicago Housing Authority 
  • Housing Authority of Baltimore City 
  • Housing Authority of New Orleans 
  • Housing Authority of Portland 
  • Housing Authority of the City and County of Fresno 
  • Housing Authority of the City of Bremerton, Washington 
  • Housing Authority of the City of Newark 
  • Housing Authority of the City of Tacoma 
  • New York City Housing Authority
  • Philadelphia Housing Authority 
  • San Francisco Housing Authority 
  • Santa Fe Civic Housing Authority

Innovations in Energy Performance Contracting

In addition to our work with housing authorities, Ballard’s Energy and Project Finance Group has negotiated agreements under unique EPC structures, including lease purchase agreements for energy efficiency retrofits for Arizona’s Chino Valley Unified School District utilizing Qualified School Construction Bond financing, a power-purchase agreement for a 2 MW commercial-scale solar project on the Baltimore Convention Center, and agreements related to the purchase and installation of energy efficient HVAC equipment for the Baltimore Children’s Museum at the Inner Harbor (Port Discovery).


William C. Rhodes
Tel 215.864.8534

Teri M. Guarnaccia
Tel 410.528.5526