Cynthia Bast

Cynthia Bast is nationally recognized as a preeminent lawyer in the area of affordable housing and community development finance and leads the Firm’s Affordable Housing Section. She calls upon her vast experience, including experience in the areas described below, as a frequent speaker at conferences across the country.

Cynthia assists clients with complex affordable housing and community development transactions using a variety of financing tools, including housing tax credits (LIHTC), tax-exempt bonds, HUD programs, and other federal, state, and local resources.

Throughout her career, she has worked on hundreds of transactions involving housing in Texas and other states. Her clients include developers, lenders, investors, governmental agencies, and trade associations.

In addition to her transactional work, Cynthia actively represents clients before relevant governmental authorities and advocates for affordable housing issues with the Texas Legislature. Much of her work in this area is devoted to helping clients with matters before the Texas Department of Housing and Community Affairs. In that capacity, she guides clients through critical appeals to the TDHCA Board and other administrative or compliance matters.

When affordable housing properties become troubled, Cynthia advises clients on creative solutions. Such solutions may include employing tax exemptions, restructuring existing financing, finding new soft financing, changing an ownership structure, or pursuing foreclosure.

Whether the clients are owners, investors, or lenders, she brings an understanding of the complex regulatory overlay that is necessary to work out an affordable housing finance transaction.

Representative Experience :

• Negotiating debt and equity financing documents for hundreds of housing tax credit transactions nationwide, including transactions using tax-exempt bonds
• Structuring and documenting complex transactions with multiple layers of financing, including HOME funds, CDBG funds, RAD, HOPE VI money, and other federal, state, and local sources
• Advocating for clients before the Texas Department of Housing and Community Affairs on critical matters involving housing tax credit applications, underwriting issues, and compliance matters for particular properties
• Assisting clients with formulating strategies for work outs, including revision of existing financing agreements, identification of new financing, deed-in-lieu of foreclosure, foreclosure, general partner removal, and various kinds of settlements and releases

Professional Affiliations and Recognitions :

• Awarded, Jean W. MacDonald Lifetime Achievement Award by Texas Affiliation of Affordable Housing Providers (TAAHP) (2014)
• Recognized in Chambers USA  (2016-2018) – Real Estate
• Member, American Bar Association, Affordable Housing and Community Development Law Forum
• Member, Austin Bar Association
• National Advisory Board, Rainbow Housing Assistance Corporation

Community Leadership :

• Advisory Board, Rainbow Housing Assistance Corporation
• Pro Bono Volunteer, Texas Community Building with Attorney Resources

Education :

• J.D., with honors, The University of Texas School of Law, 1991
• M.B.A., University of Tulsa, 1988
• B.A., magna cum laude, University of Tulsa, 1987

Admissions : Texas, 1991, Oklahoma, 2013