New Markets Tax Credits and Other Tax Incentives for Real Estate Development

Qualifying, Applying for and Using Tax Credits to Structure Real Estate Projects

Recording of a 90-minute premium CLE webinar with Q&A

Conducted on Tuesday, July 31, 2012

Recorded event now available

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Course Materials

This CLE course will brief counsel to real estate investors and developers on federal and state new markets, historic and energy tax credits. The panel will describe the qualification and application processes for these credits and offer practical approaches to use the credits to structure real estate projects.

Description

The success of many real estate projects depends on a financing structure that leverages a variety of funding sources. The use of federal and state tax credits creates extra project funds, which can also improve a project’s appeal to lenders.

The new markets tax credit was created to produce new or increased investments in operating businesses and real estate projects in certain low-income communities. In 2012, $330 million in new markets credits have been awarded to real estate developers through a competitive application process.

Federal historic tax credits, available for historic rehabilitation, and energy credits, used for development of energy projects, are other cost-effective subsidies for real estate investment. Developers can also access state tax credits that parallel the federal programs.

Listen as our authoritative panel identifies important issues for real estate counsel to consider when leveraging the benefits of new markets, historic and energy tax credits in structuring real estate projects.

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Outline

  1. New markets tax credits
    1. Description of the federal new markets tax credit
    2. New markets qualification and application process and timetable
    3. Availability of new markets awards made in 2012
    4. State new markets tax credit programs
    5. Structuring real estate deals with new markets tax credits
  2. Historic rehabilitation tax credits
    1. Description of the federal historic tax credit
    2. Qualification and application process for historic credits
    3. State historic tax credit programs
    4. Structuring real estate deals with historic tax credits
  3. Energy tax credits
    1. Applicability to real estate projects

Benefits

The panel will review these and other key questions:

  • How can an investor or developer qualify and apply for future awards of these federal tax credits?
  • How can an investor or developer access portions of the new markets awards already announced in 2012?
  • What are some practical considerations for counsel structuring a real estate deal with tax credits?
  • How can a developer or owner best incorporate these credits to make a project appeal to lenders?
  • What is the legislative status of these federal credits?
  • What state programs are available that parallel the federal credits and how are these state credits obtained?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Alan L. Kennard
Alan L. Kennard
Of Counsel
Locke Lord

He is the Chair of the New Markets Tax Credit Practice and a member of the firm's Real Estate and Tax Practices. He has...  |  Read More

Peter J. Berrie
Peter J. Berrie
Partner
Faegre Baker Daniels

His practice focuses on tax credits, particularly historic tax credits and new markets tax credits, as well as real...  |  Read More

Anthony Ilardi, Jr.
Anthony Ilardi, Jr.
Member
Dykema

He is in the Taxation Practice Group, and concentrates on counseling developers, lenders, investors and community...  |  Read More

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