Understanding and Utilizing New Markets Tax Credits in Your Development Deal

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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:
ULI Members: $95; Non-Members: $125
Category:
Organizer:
David Mulvihill, Vice President, Professional Development
Phone:
202-624-7122
dmulvihill@uli.org
Updated:
March 20, 2013
Venue:
Reed Smith LLP in Washington, D.C.
Address:
1301 K Street, NW Suite 1100, East Tower, Washington, DC, 20005, United States

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.

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,
ReedSmith

L’Quentus Thomas
Director
Stonehenge Capital Company, LLC

Laura Vowell
Business Development Partner
US Bank

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Choose From
Four Locations

The New Markets Tax Credit workshop will be held at Reed Smith LLP’s 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.

Choose one of the following locations when you register:

Washington, D.C.
1301 K Street NW
Suite 1100, East Tower
Washington, DC, 20005

Chicago, Illinois
10 South Wacker Drive
40th Floor
Chicago, IL 60606

Los Angeles, California
355 South Grand Avenue
Suite 2900
Los Angeles, CA 90071

San Francisco, California
101 Second Street
Suite 1800
San Francisco, CA 94105