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- University of Maine School of Law
, J.D., 1985 (Cum Laude)
- New Jersey Institute of Technology
, B.S.C.E., 1981 (Magna Cum Laude)
Michael L. Sheehan, Chair of the Business Law Practice Group and the firm's lead attorney in tax matters, brings a broad spectrum of practical business and tax advice to his clients.
He advises clients on Federal income, gift and estate tax matters as well as Maine and New Hampshire income, sales and property tax issues. He represents clients before the Internal Revenue Service, Maine Revenue Services, local assessment boards, the Maine State Board of Property Tax Review as well as the New Hampshire Department of Revenue Administration. He also handles appeals from these bodies to the courts.
On the commercial side, he negotiates, documents and consummates business acquisitions and dispositions, complicated loan and equity arrangements, real estate sales and leases, major equipment purchases and leases and contracts covering a variety of subjects. Michael also maintains an active affordable housing practice and has represented developers and investors on transactions in Maine, New Hampshire, Delaware, Georgia, Colorado, New York, New Jersey and Missouri.
Michael is from New Jersey and was graduated magna cum laude from the New Jersey Institute of Technology. He earned his law degree cum laude at the University of Maine School of Law in 1985 and served as law clerk to the Honorable Thomas J. Lydon, U.S. Court of Federal Claims, Washington, D.C. He joined Preti Flaherty in 1986.
Mike is co-author of the Maine chapter of the American Bar Association's Sales and Use Tax Desk Book, first published in 1988, and continues to update its annual editions. He is listed in Woodward/White's The Best Lawyers in America and Chambers USA "America's Leading Business Lawyers for Business."
He is a speaker on sales tax, business tax planning and probate and estate planning.
Mike is a member of the Maine State and American bar associations and the latter's Taxation and Real Property, Probate and Trust Law sections.
Admissions
Maine; U.S. Court of Federal Claims; U.S. Court of Appeals for the Federal Circuit; Massachusetts; U.S. Tax Court
Civic Involvement
President, Habitat for Humanity of Greater Portland
Representative Matters
SFO*Media - SFO*Media publishes popular daily web magazines for travelers of all kinds, including HotelChatter.com and Jaunted.com. Their hip, pop culture-oriented take on travel subjects made them attractive to CondeNet--owner of Wired.com-- who sought to acquire... read more >>
SFO*Media - SFO*Media publishes popular daily web magazines for travelers of all kinds, including HotelChatter.com and Jaunted.com. Their hip, pop culture-oriented take on travel subjects made them attractive to CondeNet--owner of Wired.com-- who sought to acquire them. Our M&A Group represented SFO*Media in the transaction, which involved complex intellectual property issues, as well as the negotiation of employment and bonus arrangements for its principal. New travel sites are in the works, including the soon-to-be-launched vegaschatter.com.
Caleb Foundation - Michael assisted the Caleb Foundation in obtaining financing through historic tax credits to revitalize the Olde Woolen Mill in North Berwick, Maine. The mill was merely gathering cobwebs when the Caleb Foundation saw an opportunity to create... read more >>
Caleb Foundation - Michael assisted the Caleb Foundation in obtaining financing through historic tax credits to revitalize the Olde Woolen Mill in North Berwick, Maine. The mill was merely gathering cobwebs when the Caleb Foundation saw an opportunity to create housing for low-income seniors. To help finance it, our Michael and a team of tax attorneys were instrumental in structuring one of the very first syndications under Maine's recently expanded historic tax credit program and synchronizing the requirements of the state credit investor with the federal historic tax credit and housing tax credit investors. We successfully obtained favorable financing necessary to green-light renovations to 40 apartments for senior residents.
Saco Island - Michael was actively involved in representing Harper's Development, one of Maine's leading real estate development companies, with the revitalization of the Saco Island mill. Preti Flaherty represented Harper's in its $5.9 million acquisition of... read more >>
Saco Island - Michael was actively involved in representing Harper's Development, one of Maine's leading real estate development companies, with the revitalization of the Saco Island mill. Preti Flaherty represented Harper's in its $5.9 million acquisition of Saco Island, an island in the Saco River with textile mills dating from the 19th Century. To revitalize the property and create a vibrant mixed-use community, we cleared title for the purchase, which required untangling a complex 100-year-old web of ownership, easements and other rights to property and industrial assets. We created three separate condominium associations to serve as ownership vehicles for the restored properties. Our Environmental Group performed environmental due diligence and developed a voluntary remedial action plan (VRAP). To help finance renovations, we negotiated a $35 million Tax Increment Financing Program, the largest nonindustrial TIF ever approved in Maine. To close the deal, we assisted with permitting, construction and zoning approvals for more than 370,000 s.f. of properties, which will be used as townhomes, condos, offices, a restaurant and microbrewery and a 62-slip marina.
Sheehan, Michael, Mike
Michael Sheehan is a Partner in the Portland, ME office and Chair of the Business Law Practice Group. He is the firm's lead attorney in tax matters and estate planning.
Nickname: Mike