Overview

Our tax credit and incentive finance (TCIF) attorneys bring cutting-edge knowledge of the industries and sectors that benefit from tax credit finance structures. We provide a full range of legal services to tax credit investors, lenders, developers, nonprofit organizations, community development entities, governments, syndicators, underwriters and qualified businesses in transactions utilizing federal and state tax credits and incentive programs.

We take a multidisciplinary approach that draws on the firm’s full range of relevant skills across practices and locations to help finance a diverse array of projects throughout the U.S. Our experience includes affordable housing, historic restoration, redevelopment, community development, mixed-use and renewable energy initiatives. Collectively, our attorneys develop creative solutions for syndicating and leveraging the benefits of state and federal tax credits and government incentive programs to create best-in-class solutions.

This approach makes us leaders in understanding the business objectives for each project and the broader tax credit and incentive industry and its players. Our dynamic group of TCIF attorneys pride themselves on working closely with clients on creative, practical and efficient approaches to structure and close each transaction.

Our toolkit includes tax credits for new markets, historic rehabilitation, renewable energy, low-income housing, film and entertainment, property assessed clean energy (PACE) financing, and opportunity zone program incentives, among numerous other federal and state tax and incentive programs described below.

Capabilities

Our services include:

  • Creative structuring of tax credit and government incentive transactions
  • Drafting of necessary legal documentation, including entity organizational documents, loan documents, indemnification agreements, real estate documents, syndication and investment documents
  • Preparing and rendering all necessary tax and corporate legal opinions
  • Reviewing and advising on any necessary real estate and environmental diligence
  • Assisting in all compliance and asset-management issues

FEDERAL & STATE NEW MARKETS TAX CREDITS

Our TCIF attorneys have closed hundreds of federal new market tax credit transactions for tax credit investors, community development entities, leverage lenders and qualified active low-income community businesses. We regularly close transactions that combine federal new markets tax credits with other tax credits and incentives, including state new market tax credits, federal and state historical rehabilitation tax credits, federal and state renewable energy tax credits and PACE financing.

Stinson attorneys are among the nation’s leaders in state new market tax credits. We advise issues at the forefront of the state new market tax credit industry, having closed transactions in every state that has adopted a new markets tax credit program. We assist clients in efforts to draft legislation for new tax credit programs, and work with state legislatures to refine existing legislation. An active and well-respected group, our TCIF attorneys work with state regulators nationwide to interpret and implement each state’s new market tax credit program. Our attorneys develop creative solutions for syndicating state new market tax credits and in leveraging the benefits of state new markets tax credits with other state and federal tax credits to create best-in-class solutions.

FEDERAL & STATE HISTORIC REHABILITATION TAX CREDITS

The attorneys in our TCIF practice advise developers and investors on transactions utilizing federal and state historic rehabilitation tax credits. The historic tax credit industry is evolving, and our lawyers are on the forefront of facilitating changes in the relevant tax laws and industry standards, driven by the same knowledge and experience that keeps our clients ahead of the curve on all developments impacting historic tax credits. The TCIF team is complemented by our Real Estate practice, regarded as one of the preeminent real estate practices in the Midwest.

FEDERAL & STATE RENEWABLE ENERGY TAX CREDITS

Stinson’s TCIF attorneys provide a broad range of services for renewable energy tax credit transactions. Partnering with the firm’s Energy practice, we handle renewable energy transactions in virtually any segment of the renewable energy industry – wind, solar, biomass, biofuels, and hydro. We go beyond tax credits to address client needs encompassing policy, state and federal regulation, financing, intellectual property, environmental and litigation.

PROPERTY ASSESSED CLEAN ENERGY (PACE) FINANCING

Drawing on in-depth knowledge of tax credits and incentives, Stinson’s TCIF attorneys bring significant experience to the emerging property assessed clean energy (PACE) financing industry. On the forefront since closing the first commercial PACE transactions in numerous assessment and improvement districts, we provide practical and efficient experience to close PACE transactions. Our TCIF attorneys blend Stinson’s experience in banking and financial services, real estate, and structured finance and securitization to lead the PACE process and its industry. We represent capital providers and developers, help districts and program administrators develop form documentation, and represent capital providers with securitization of PACE assets.

OPPORTUNITY ZONES & OPPORTUNITY FUNDS

H.R. 1, the tax reform bill passed and signed into law in December 2017, created the Opportunity Zone Program, a new investment tool that offers federal tax incentives for investors to provide capital to operating businesses and for real estate development in low-income areas called Opportunity Zones. The firm's interdisciplinary team has thoroughly studied the new program since its inception. Our TCIF attorneys are active in advising clients on forming, structuring and investing in Opportunity Funds and making investments in Opportunity Funds. We advise on deploying capital in Opportunity Zones and on program compliance. Stinson's TCIF attorneys are uniquely equipped to guide investors, fund managers and businesses in Opportunity Zones in organizing investments that utilize all investment opportunities available under this new program.


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