NOTE: Admission to this program is offered at no charge to current Full Members of ULI. Please call 800-321-5011 to reserve your spot.
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.
En Jung Kim
Vice President, Community Banking – New Markets Tax Credit Group
JP Morgan Chase
Regional Deal Team Manager
Wells Fargo New Market Tax Credit Group
Executive Vice President
AFL-CIO Housing Investment Trust
Chief Operating Officer
United Negro College Fund
Stonehenge Capital Company, LLC
Business Development Partner