Margaret McFarland, Of Counsel

PROFESSIONAL FOCUS

Margaret McFarland specializes in advice and counsel for public and private clients engaging in public/private partnerships with a focus on affordable housing financing and operations, including public finance with tax exempt revenue bonds, as well as  public policy development and strategy, regulatory, legislative and  litigation strategy with appellate considerations for long term implications for effective public and private services.

EXPERIENCE

• Of Counsel
  Douglas & Boykin, PLLC, 2006 - present
• Director and Professor of Practice
  Graduate Programs in Real Estate Development
  University of Maryland, 2006 – present
  
  After a decade of teaching adjunct courses in affordable housing law and finance at the University, Ms. McFarland was invited to establish a Master's degree in Real Estate Development at the School of Architecture, Planning and Preservation. The program is just completing its second year, and is keyed to a collaborative approach to all phases of development, from land use economics, to finance and capital markets, to law, process and ethics, on to design, construction and property management and commercial leasing.
  
  Key Accomplishments:
  • Preparation of first year curriculum and course development for Finance I, Law, Process and Ethics, Construction Management, Capital Markets Financing, Energy Tax Credits and Sustainable Development.
  • Establishment of a Council of Advisors including developers, lenders, architects and planners.
  • Student Body of 26 in first year has grown to 110 in the third year
• General Counsel
  District of Columbia Housing Authority
  Washington, DC, 2001 – 2006
  The District of Columbia Housing Authority (DCHA) is an independent authority with legislated mandates to own, operate and manage over 8,000 housing units for low-income citizens, to contract and manage subsidies for 12,000 privately owned housing units, and to finance and develop new commercial and mixed-income developments as part of the City’s renewal of waterfront and neighborhood communities. DCHA has over 800 employees, owns over 60 properties in the District of Columbia and operates with a $200 million annual budget and a AA management rating from Moody’s Investor Service. The Authority operates both real estate finance and development functions as well as property management operations, all subject to a myriad of local and federal rules relating to its governance, as well as accounting and procurement using federal grant funds mixed with revenue-bond and tax credit generated development funding.
  In this capacity, Ms. McFarland managed the legal and risk management functions, as well as provided advice and counsel to the Board of Commissioners and the Executive Director on all programmatic and administrative matters. These included finance and budgeting in conformance with governmental standards, human resource management in compliance with personnel policies and procedures adopted by the Board as well as two negotiated union contracts, contracting and procurement in accordance with federal and local rules; and private financing in conformance with tax and securities regulations. Responsibilities included management of a $2 million budget for both inside and outside counsel functions, risk management, including insurance policies, equipment and contracts for compliance with fire, hazardous substance and environmental regulation as well as OSHA and ADA compliance for residents and employees alike.
  
  Key Accomplishments:
  • Lead negotiator for issuance of $80 million in tax exempt revenue bonds for the rehabilitation of a major portion of DCHA housing stock, providing legal and policy advice and counsel to the Board of Commissioners as well as all reporting and due diligence required by bond insurers and rating agencies.
  • Resolved outstanding claims relating to Americans with Disabilities Act (ADA) compliance for the headquarters office building and all residential properties resulting in major capital work on over 300 units of housing, including relocation of existing residents, with ongoing reporting on construction progress and regulatory compliance with reasonable accommodation requirements.
  • Headed up the negotiation team for a $400 million commercial/retail and housing redevelopment effort using HOPE VI funds as leverage for private financing for over 25 acres of public housing property in southeast Capitol Hill. The many sources of private and public financing to be considered include revenue bonds, grant anticipation bonds, tax credits, ground leasing, tax increment financing as well as federal and local grants. There are opportunities as well as constraints posed by negotiating with a publicly traded company with a need for a legitimate return on investment for the private investors as well as protection of the investment of public dollars and public land.
  • Established three wholly-owned subsidiary corporations to carry on auxiliary activities in construction management, resident service management, and real estate development for other public and private entities in order to generate increased operating funds for the Authority.
  • One of five Steering Committee members tasked with developing and documenting or revising, with input from 7 working groups of colleagues, all internal procurement and contracting, finance/budget and human resource policies and procedures for the Authority.
    
    
• Consultant/Contractor
  Affordable Housing Finance and Policy
  Takoma Park, Maryland, 1997 - 2001
  Ms. McFarland consulted with housing authorities, trade associations, and private non-profit entities in providing educational programs, visioning sessions, and developing objectives and implementation work plans for various organizations interested in financing and building affordable housing or supporting business entities active in that field. This included assisting these organizations in evaluating of their authorizing environment as well as identifying and soliciting other professionals such as tax credit investors, property managers and bond counsel in support of particular developments. Clients included the National Association of Homebuilders/Housing Credit Group (NAHB/HCG), Rockville Housing Enterprises (RHE), the Neighborhood Development Collaborative (NDC), the Housing and Development Law Institute (HDLI), and Montgomery County government. From large (NAHB) to small (HDLI) all these clients were part of large complex organizations – mostly non-profit or governmental – subject to public oversight and the need to develop collegial and cooperative relationships within and without their organizations in order to achieve their goals.
  
  Key Accomplishments:
  • Representative for Multi-family Division to NAHB-wide assessment of organization and technology in support of knowledge management as well as membership base and financial and contracting functions.
  • Worked with an existing database and developed plans to revise and upgrade a data base of state and local program requirements for housing credit projects for NAHB.
  • Worked closely with information technology department in crafting detailed request for consulting proposals for the development of a web site for NAHB/HCG members and non-members as part of a comprehensive upgrade to member services and marketing efforts.
  • Provided interim supervision of all HDLI business and administrative operations, budget preparation, monitoring, budgeting targets, and investment of funds.
  • Worked with the Board of Commissioners of Rockville Housing Enterprises (RHE) developed strategic and operational plans for the agency as well as to improve relations between the Board and the City Council and neighborhood associations in support of dramatic changes in real estate uses of RHE property.
  • Advised the RHE Board of various opportunities and options for pursuing new types of creative financing for real estate redevelopment in a depressed community. Assisted the Board in soliciting, selecting and supervising a team of development partners, a financial advisor, an underwriting firm, and bond and tax counsel.
    
    
• General Counsel and Special Assistant to the Director
  Historic St. Mary’s City Commission
  St. Mary’s City, MD, 1996 - 1997
  Historic St. Mary’s City is a publicly owned and operated historic outdoor museum situated on the site of Maryland’s First Capitol and shared with St. Mary’s College. As Special Assistant to three Directors during the transition from small historical museum to a full partner with the state-funded college next door, Ms. McFarland worked on all governance issues, facilities planning, and operational issues where the public, including school children, were daily visitors. Advised the Executive Director and Board of Commissioners that govern and operate this large outdoor history museum on many operational matters ranging from tort claims by museum visitors to employee grievances, from licensing of public property to procurement policy handbooks and budgeting protocols in cooperation with St. Mary’s College.
  
  Key Accomplishments:
  • Staffed the Governor’s Task Force chaired by Lt. Governor Townsend that provided for a new and cooperative relationship between the Museum and College, allowed for quasi-independent status for the Museum, a new collegial cooperating agreement with the College, assured minimum governmental financing, and mandated new corporate-type operating mechanisms for the Museum Board chaired by Ben Bradlee.
  • Built consensus among diverse Task Force members, from the local community historic preservation activists, to College President Margaret O’Brien, Speaker Mike Miller, as well as the St. Mary’s County Commissioners and Maryland House delegates, in support of a model that provided for a new cooperative relationship between the Museum and College which had long been at odds as to the Museum’s purpose and function and relationship to the College which shares the historic lands of the State’s First Capitol.
    
    
• General Counsel and Assistant Attorney General
  Maryland Department of Housing and Community Development
  Annapolis/Baltimore/Crownsville, MD, 1985 – 1995
  Headed up the office charged with providing all legal advice, regulatory and legislative drafting, legal documentation and legal opinions for multiple state and federally programs for affordable housing, public infrastructure loans to counties and municipalities, model building codes, historic preservation, public archaeology and various ethnic and cultural programs and museums. Supervised an office of 30 professionals and support staff, as well as the outside law firms providing specialized tax, securities, and litigation services with a budget of approximately $2 million. Testified on state budgetary items for new financing programs as well as many regulatory matters affecting the loan portfolio. Provided creative options for programs within the state personnel, procurement and Board of Public Works structure.
  DHCD was the largest issuer of tax-exempt revenue bonds in the State and as such disclosure of all financial and budgetary matters affecting DHCD was required from the General Counsel prior to the closure of all bonds. A close working relationship and understanding of all matters between the Chief Financial Officer, the cabinet Secretary and Ms. McFarland’s office was required in order to issue bonds ten to twelve times a year, including an assessment of the risks involved in unrated bonds and lower-floater bonds which were untried at that time. Worked extensively with elected and appointed state and federal public officials to obtain support for new or modified legislation or regulations on a variety of public issues, requiring coordination of often conflicting requirements of local, state and federal law, including accessibility requirements, building codes, native American claims, and tax-exempt bond financing of local and state public projects.
  
  Key Accomplishments:
  
  • Prepared multiple, successful, legislative proposals, including management of mortgage insurance reserves, pooled financing for local public infrastructure projects, neighborhood commercial/retail reinvestment, smart growth planning requirements as well as financing for construction and rehabilitation of affordable rental and for sale housing.
    
  • Advised public officials, in and outside the agency, on the requirements of continuing disclosure under new SEC statement of requirements, as well as ongoing requirements related to defaults and financial statements.
    
  • Negotiated new types of creative financing solutions with HUD, Fannie Mae and Freddie Mac allowing for contribution of state funds as well as subordinate funding with flexible guarantees.
    
    
• Associate Attorney
  O’Melveny &Myers
  Washington, DC, 1981 – 1985
  Negotiated and documented Washington area transactions for California clients investing in hotel, retail and office buildings. Advised clients on such matters as historic preservation tax credits, and the use and nature of GNMA securities. Represented clients with officials at the Federal Trade Commission, the Department of the Interior and the Department of Housing and Urban Development, Assisted clients with construction, leasing and management issues arising out of retail and hotel operations.
  
  Key Accomplishments:
  
  • Obtained an essential waiver from the Department of the Interior for a client who had applied for historic preservation tax credits for a commercial rehabilitation project in Dallas.
    
  • Closed the firm’s then largest commercial real estate transaction in connection with a client’s purchase of a large central city retail mall.
    
  • Worked with Senator Howard Baker and his staff to create a non-profit organization to raise funds for renovation of certain historic areas of the Senate.
    
    
• Chief of Current Planning, 1977 – 1978
  Principal Planner, 1974 – 1977
  Toledo-Lucas County Plan Commissions
  Toledo, Ohio
  Prepared and presented agendas, executive summaries and reports to the Commissioners for action and recommendation on zoning, platting and long range planning policies for the City of Toledo and the surrounding agricultural area of Lucas County. Supervised a staff of 10 professional planners and technicians. Engaged in long range planning, including research and technical projects for land use mapping, housing, and population and infrastructure needs projections. Wrote multiple reports for consideration and adoption by the Commission.
  Worked with civic activists, developers seeking assistance with data or project approvals, as well as elected and appointed officials that sat on the Commission. Proposed the creation of, and then worked with, a long range planning subcommittee of the Commission which brought broader land use policy issues to the full Commission for action.
  
  Key Accomplishments:
  
  • Developed a land use assessment system to evaluate the best use of undeveloped land in the city and county in preparation for adoption of a new master plan for the area.
    
  • Wrote and published reports that were adopted by the Commission in the area of development alternatives, parks, population growth and vacant land use assessment.

BAR MEMBERSHIPS

• United States District Court: District Columbia
• District of Columbia Court of Appeals
• Maryland Court of Appeals

EDUCATION

• J.D., University of Michigan
  
• M.A. Urban Studies, University of Chicago
  
• B.A.  History, Andrews University