New Markets Tax Credits
Our interdisciplinary New Markets Tax Credits (NMTC) lawyers help investors, lenders, businesses, real estate developers, nonprofits, and community development entities (CDEs) close transactions that take advantage of federal and state NMTC programs, often in combination with other economic development incentives. Drawing on the skills of attorneys throughout our multi-service law firm, including in our tax, real estate, business, environmental, energy, and government relations practice groups, we ensure that the right mix of lawyers handles every aspect of your NMTC transaction.
Before you begin your next development project, find out how we can help you benefit from federal and state NMTC programs and other economic development incentives that will reduce the overall cost of your project. Our areas of service include:
- Identifying and securing state and federal NMTC allocation
- Innovative structuring of tax credit transactions
- Educating lenders and stakeholders regarding the unique characteristics of an NMTC financing
- Structuring project financing to maximize incentives
- Preparing all necessary legal contracts and loan documentation
- Providing advice on interrelated issues in the areas of tax, energy, environmental, and real estate law
- Providing all required legal and tax opinions
- Assisting in all compliance and asset management issues
In addition to our knowledge and experience in NMTC financings Pierce Atwood attorneys offer options for alternative fee arrangements that make it easier for our clients to pursue development projects.
Areas of Expertise
Identifying NMTC Allocation
Many developers and businesses have heard a bit about NMTC financing, but they may not know how to begin and how to secure NMTC allocation in a highly competitive environment. We can help with that process by leveraging our contacts in the NMTC world to find the right CDE(s) and investor for your project.
Combining NMTC and Other Incentives
We have a great deal of experience with many different economic development programs from tax credits to grants to loan guarantees and bond programs. We can help you identify which incentives work for your project and then create a transaction structure that allows you to maximize each benefit.
State NMTC Transactions
State new markets programs have taken on a much greater importance over the last several years. Pierce Atwood has been involved in many state NMTC transactions, whether paired with federal NMTC allocation or on a stand-alone basis. In Maine we have been heavily involved in eight of the ten transactions to close to date.
NMTC Asset Management
We regularly advise our CDE clients on the management of their NMTC assets in a variety of situations from “unwinding” transactions to handling disputes, litigation, foreclosure or bankruptcy. Being a full service collaborative law firm, our tax credit attorneys work with experts in other areas to provide integrated comprehensive solutions.