Structuring and effectuating transactions involving one or more types of tax credits in addition to traditional financing can be quite challenging. Our team of attorneys with the full range of required expertise has helped clients achieve success and overcome nearly every hurdle related to the full gamut of tax credits, resulting in additional funds to fill out the capital stacks of our clients’ projects.
New Markets Tax Credits
Alston & Bird has advised clients on New Markets Tax Credit (NMTC) transactions for more than a decade. Our team of attorneys has extensive knowledge of tax, finance, real estate, environmental, corporate, government policy, and tax-exempt organizations laws and regulations, enabling us to provide comprehensive legal counsel for all parties involved in NMTC deals. Our clients include qualified active low-income community businesses (QALICBs) such as hospitals, schools, community centers, and other organizations, sponsors, community development entities (CDEs), lenders, government entities, and consultants.
Federal Low-Income Housing and Historic Tax Credits
We provide guidance to tax credit investors, syndicators, and real estate developers on transactions involving federal low-income housing tax credits (LIHTC) and historic tax credits (HTC), as well as related state tax credits. Our tax, real estate, and finance attorneys draw on their broad experience to advise on various tax credit structures, prepare the relevant documents including tax opinions, and work with lenders and accountants to structure and execute these complex transactions. Our attorneys also have experience structuring transactions that incorporate varying combinations of LIHTC, HTC, NMTC, and opportunity zones.
Renewable Energy Tax Credits
We provide guidance to investors, syndicators, and developers of renewable energy projects on structuring their transactions to leverage project financing to take advantage of renewable energy tax credits such as the investment tax credit (ITC) and production tax credit (PTC). Our experience includes representing clients developing and financing energy projects of varying sizes, including rooftop solar and utility-scale, ground-mounted solar facilities. With the new and generous incentives included in the Inflation Reduction Act of 2022, developers are increasingly seeking to monetize the tax incentives available for renewable energy projects. Our team has assisted in the initial application and ongoing reporting requirements needed to leverage these incentives.