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Richard K. Bonness


Rik serves as debt counsel in connection with a variety of taxable and tax-exempt transactions including financings for Low Income Housing Tax Credit and commercial projects.

In 1995 Rik was instrumental in creating Kutak Rock’s LIHTC group and currently is one of the leaders in the Omaha office’s LIHTC debt financing group. Rik’s team serves as debt counsel, including bond purchaser counsel, to leading national banks in LIHTC transactions alongside the firm’s nationally recognized tax credit equity and public finance practices. Rik and his group have closed hundreds of LIHTC debt transactions including numerous transactions where they served as bond purchaser counsel. These debt transactions have involved a variety of structures and third-party lenders including HUD, Freddie Mac, Fannie Mae and local financing agencies. Rik’s team developed the legal documents for a variety of debt structures in these transactions including equity bridge loans, construction and permanent facilities, letters of credit, revolving credit facilities, and pre-development loans. Rik’s group also developed the legal documents for those banks participating as taxable and tax-exempt bond purchasers. These bond transactions also reflect a variety of financing structures (long- and short-term bonds, construction and equity bridge bonds, drawdown bonds) and forms of collateral (real estate, cash, equity contributions, project owner interests and letters of credit).

Rik’s practice also includes representing lenders in a variety of complex taxable financings for non-LIHTC commercial and governmental projects. In this area Rik has extensive experience in real estate and asset-based financings, revolving credit and construction and term loan facilities, and letters of credit.

  • Represents banks, insurance companies and other national and regional commercial lending institutions in complex multistate real estate financings.
  • Represents lenders and credit enhancers in connection with syndications, restructurings and workouts.