NMTC -- New Markets Tax Credits

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New Markets Tax Credits, either as a stand-alone financing or in concert with other public finance options, can help build a wide variety of projects, such as a charter school in a low-income community, a large mixed-use development that catalyzes the rebuilding of a neighborhood, and new facilities to bring needed jobs into communities.

Kutak Rock lawyers have represented participants at all levels of transactions in innovative structures, including:

  • Working with the Investor to develop a structure that ultimately included multiple investors and CDEs, as well as Gulf Opportunity Zone Bonds, state new markets tax credits, federal and state historic tax credits, as well as loans with equity conversion features;
  • Working with multiple Community Development Entities (CDE) involved in a single transaction to coordinate the needs of the New Markets structure with a HUD 108 loan providing a source of funding for the leverage loan;
  • Working with charter schools to use Qualified School Construction Bonds (both direct pay and tax credit) in connection with New Markets Tax Credits;
  • Working with a solar power provider to use New Markets financing to install solar panels on public schools in low-income communities across the state;
  • Working with a CDE to provide New Markets financing for much needed working capital to a seafood waste processing facility while staying within the requirements of its USDA grant; and
  • Working with a county government to use New Markets in conjunction with more traditional county funding sources to build a new performing arts center.