Mark J. Maichel

(303) 292-7720
Partner
(303) 292-7799 Fax
Mark.Maichel@KutakRock.com

Mr. Maichel, a partner, is active in all aspects of federal tax credit practice and other aspects of federal tax incentives for projects that generate tax credits. He particularly focuses on providing tax advice to project sponsors, investors and syndicators that invest in renewable energy and real estate projects that generate federal and state income tax credits.

With respect to real estate investments, Mr. Maichel advises participants in affordable housing projects developed with low-income housing tax credits and historic buildings renovated with historic rehabilitation tax credits. He frequently provides tax advice to investors and community development entities in connection with investments in and loans to qualified active low-income community businesses that generate federal New Markets Tax Credits.

On the energy front, Mr. Maichel has counseled project sponsors, developers, investors, and financial institutions on tax matters relating to federal energy investment tax credits for the use of solar and other renewable energy equipment in projects and federal production tax credits for the development of renewable electricity production facilities. He also has assisted clients in successfully applying for federal advanced energy project credits to equip or expand manufacturing facilities for the production of renewable energy technologies.

Mr. Maichel routinely represents tax-exempt entities such as charitable organizations, social welfare organizations and business leagues regarding their formation, qualification for and maintenance of tax-exempt status, and mergers.

Energy Representative Matters

  • Advising a private equity fund regarding federal tax considerations related to the formation of a dedicated $100 million "sponsor equity" fund for distributed generation market niches structured to accommodate tax equity investors and debt providers.
  • Represented tax credit investors in connection with numerous affordable housing projects that combined federal energy investment tax credits for the use of solar equipment and federal Low Income Housing Tax Credits, including apartment complexes located in Honolulu, Maui, Tempe and Phoenix.
  • Represented a regional bank subsidiary of a national bank on federal tax issues related to debt financing for a portfolio of residential solar energy projects in Arizona, California and Hawaii.
  • Represented Salt Lake County on state and federal tax issues related to blending New Market Tax Credits, 1603 Treasury Grants, depreciation benefits, qualified energy conservation bonds and various federal grant proceeds into a 1.6 MW rooftop solar power project.
  • Provided tax opinions on federal tax matters, including the energy investment tax credit and 1603 Treasury Grant, during representation of a national independent power producer in the development of multiple utility-scale solar power projects in the western and southwestern United States.
  • Represented a western housing authority regarding federal tax implications of provisions in transactional documents with the third-party owner and operator of 2.5 MW of solar rooftop power projects on over 600 affordable housing unit rooftops.
  • Represented a solar power project developer on federal and state tax issues related to the financing and project structuring of multiple 2 MW solar power projects in North Carolina, incorporating inverted lease structures.
  • Represented a manufacturer of solar mirrors and a manufacturer of reflective shingles in their application and award of federal advanced energy project credits to expand and equip manufacturing facilities for the production of renewable energy technologies.

Real Estate Representative Matters

  • Represented the New York City Housing Authority in connection with tax credit aspects of its financing and redevelopment of 21 housing projects containing more than 20,000 units of public and other affordable housing units.
  • Represented the Commonwealth of Puerto Rico on the revitalization of a portfolio of 33 properties containing over 4,100 units of public housing using federal Low Income Housing Tax Credits and tax-exempt bonds.
  • Represented a tax credit investor in the $160 million rehabilitation of the historic Pillsbury Mills complex in Minneapolis, into affordable housing utilizing $85 million of tax-exempt bonds, federal Low Income Housing Tax Credits and federal and state historic rehabilitation tax credits.
  • Represented a tax credit investor in the financing of the renovation of a 25-story historic bank building in downtown New Orleans, using federal and state historic rehabilitation tax credits, federal Low Income Housing Tax Credits and community development block grant funds.
  • Represented a community development entity in connection with the renovation of a historic building in Albuquerque, into the boutique Hotel Parq Central with federal New Markets Tax Credits and federal historic rehabilitation tax credits.
  • Represented the tax credit investor and its community development entity in connection with the renovation of a 50,500-square-foot multi-retail center known as the Shops at Brewers Hill in Baltimore, financed with federal New Markets Tax Credits.
  • Represented a qualified active low-income community business and leveraged lender in connection with the development of a multi-story, mixed-use building containing office, commercial and retail space, and 74 residential apartment units, in East St. Louis, Illinois, which utilized HUD public housing funds as the source of the leverage loan and federal New Markets Tax Credit loan financing.
  • Represented a tax credit investor in its investment in multiple community development entities that provided federal New Market Tax Credit loan financing to a borrower for the development of a 220,000-square-foot big box retail center in a low-income community in Los Angeles.
  • Represented a leveraged lender in connection with federal New Market Tax Credit financing for the construction of a 148,000-square-foot retail facility in Pittsburgh that is leased to Target Corporation.
  • Represented a community development entity in connection with federal New Markets Tax Credit loan financing for the construction, equipment and operation of a manufacturing facility for the production of solar modules and receivers in Albuquerque.

Speaking Engagements

  • "Solving the Investment and Funding Gaps Puzzle," Ballard Spahr National Housing Symposium, November 2013.
  • "Selling and Structuring Green Energy Deals in the Public Sector," Infocast, June 2010.
  • "The State of the Low Income Housing Tax Credit Market – National and Local Perspectives," Arizona Housing Alliance, May 2010.
  • "Anatomy of a New Markets Tax Credit Transaction," Arizona Housing Alliance, November 2009.