New Markets Tax Credit

KMK Law has represented clients in federal New Markets Tax Credit (NMTC) and Historic Tax Credit (HTC) transactions numerous times over the last decade. KMK also has extensive experience with various state NMTC and HTC programs, including Ohio and Kentucky.

NMTC transactions require, at a minimum, lawyers for the borrower, the investor, and the community development entity (CDE). In addition, lawyers may be needed to represent a leverage lender involved in the transaction. KMK has represented clients in all of these capacities, both for projects within the State of Ohio and in other states, such as Indiana, Kentucky, Alabama, Georgia, Maine, and Wisconsin. A sample of the NMTC project types in which KMK has provided its counsel are as follows: mixed-use residential, office and retail developments; community theater projects; integrated community and social services centers; corporate headquarters; biofuel loading, transport and blending facilities; healthcare facilities; job development and workforce training facilities; redevelopment of public parks and other community gathering spaces; business incubators; and church building restorations.

KMK also has successfully navigated various tax, real estate, and corporate law aspects of federal HTC transactions.  In addition, KMK has experience in advising clients on applying for and obtaining State of Ohio HTC awards through the Ohio Development Services Agency’s competitive HTC program, and then successfully structuring transactions to take the full benefit of the Ohio HTC award.  HTC transactions can be paired with NMTC transactions to provide additional equity for a development, and KMK has helped structure and close several such transactions.