New Markets Tax Credits

Since the New Markets Tax Credit (NMTC) program became effective, Perkins Coie attorneys have worked to help shape NMTC regulations, policies and guidance and to structure transactions that advance our clients’ strategic, financial and community development goals.

Overview

Experience

Counsel to Placement Agent for New Markets Tax Credit Government Loan Fund

Counsel to placement agent for New Markets Tax Credit (NMTC) debt and equity for proposed NMTC leveraged statewide governmental loan fund.

Credit Enhanced Tax Exempt Bond Financing

Represented national bank in connection with a $25 million letter of credit to secure bonds for the construction of an affordable housing complex located in Miramar, Florida.

General Counsel to Recipient of Largest New Markets Tax Credit Aggregate Recipient

General counsel to recipient of largest aggregate NMTC allocations for Rounds #1 through #9, with primary responsibility for developing legal structure for and negotiating equity and debt transactions.

New Markets Tax Counsel to Private Equity Fund Allocatee

Counsel to private equity fund allocatee in connection with formation of national leveraged loan fund.

Primary Counsel for First Major New Markets Tax Credit Leveraged Loan Fund in the Nation

Primary counsel for first major new markets tax credit leveraged loan fund in the nation, negotiation of allocation agreements with Community Development Financial Institutions (CDFI) Fund and negotiation of joint venture arrangements with suballocatees.

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