Event: Understanding and Utilizing New Markets Tax Credits in Your Development Deal
Start: April 17, 2013 1:00 pm
End: April 17, 2013 4:00 pm
Cost: $35 – Non-government Employees (NO CHARGE to Nonprofit and Government Employees)
Category: Courses & Workshops
Venue: Reed Smith LLP in Washington, D.C. Google Map
Address: 1301 K Street, NW Suite 1100, East Tower, Washington, DC, 20005, United States

To register, please contact Heidi Kavanaugh at: hkavanaugh@reedsmith.com

SPONSORED BY:

Urban Land Institute
National Housing & Rehabilitation Association’s NMTC Steering Committee

ABOUT THE PROGRAM

The federal New Markets Tax Credit (NMTC) program can provide developers with a significant source of equity. Learn how at this ULI workshop, to be hosted by Reed Smith LLP in its Washington, D.C., office. Participants can also join the discussion via a live, interactive video to be broadcast at Reed Smith offices in Chicago, Los Angeles, and San Francisco.

What Participants Will Learn

  • How New Markets Tax Credits work in a real estate development deal.
  • How to identify qualifying projects and locations.
  • How to Identify investors for your deal and how exactly they benefit.
  • How banks select and underwrite NMTC projects.
  • Which projects are best suited to the NMTC program.
  • What qualifies as a community development entity.
  • How projects are selected.
  • How an NMTC deal differs from a standard debt-financed transaction.
  • What assets can be financed and how the mix of uses and property types is important.
  • The details of a project case study.
  • How sequestration will affect NMTCs.

The New Markets Tax Credit provides substantial benefits to taxpayers who invest in NMTC projects. This can apply to different types of projects, including mixed-use, housing, office, retail and health care projects.

Taxpayers can receive the credit against their federal income tax bill in exchange for an equity investment in a project located in a qualifying income area. The equity investment is typically used by community development entities to fill the gap in financing in projects and businesses within target zones. Both nonprofit and for-profit developers can use this equity investment to provide financing that is otherwise not available from traditional sources of equity.

SPEAKERS

Joel Cohn
Partner
CohnReznick

En Jung Kim
Vice President, Community Banking – New Markets Tax Credit Group
JP Morgan Chase

Scott Pinover
Regional Deal Team Manager
Wells Fargo New Market Tax Credit Group

Eric Price
Executive Vice President
AFL-CIO Housing Investment Trust

Early Reese
Chief Operating Officer
United Negro College Fund

Olivia Shay-Byrne
Partner,
Reed Smith

L’Quentus Thomas
Director
Stonehenge Capital Company, LLC

Laura Vowell
Business Development Partner
US Bank