The United States Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) on Sept. 1 announced $5 billion in New Markets Tax Credit (NMTC) awards with the goal of economically revitalizing low-income communities across the country. Particular outcomes that the CDFI hopes to achieve with this round of awards include job creation associated with investments in manufacturing, retail, and technology, as well as greater access to housing and public facilities such as health, education, and childcare for low-income communities.

Continue reading the full GT Alert.

Tags: GT Insight, New Markets Tax Credits (NMTC), Treasury Department
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Photo of James O. Lang James O. Lang

James O. Lang focuses his tax and corporate project finance practice on tax incentive programs, Qualified Opportunity Zone and Qualified Opportunity Fund financing, tax credits, and related state and federal incentive programs.  Jim is closing over $8 billion of Qualified Opportunity Funds and…

James O. Lang focuses his tax and corporate project finance practice on tax incentive programs, Qualified Opportunity Zone and Qualified Opportunity Fund financing, tax credits, and related state and federal incentive programs.  Jim is closing over $8 billion of Qualified Opportunity Funds and ancillary Qualified Opportunity Zone deployment of funds and has closed or is structuring several billion dollars in tax credit incentivized transactions.  Jim represents funds, investors, lenders, community development entities, and for-profit and not-for-profit project sponsors in complex transactions where capital stacks require enhancement through incentive financing, including Qualified Opportunity Zone incentives, state and federal new markets tax credits, affordable housing and low-income housing tax credits, historic rehabilitation tax credits, and renewable energy tax credits. He works with funds, investors, lenders, project sponsors, and qualifying businesses to structure these tax incentive programs along with ancillary governmental and non-governmental financing programs, including inbound immigration and Visa investment programs, grants, and taxable and tax-exempt bonds. Jim works with clients on developing creative structures designed to increase benefits and ameliorate risks.

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Photo of Brian Gaudet Brian Gaudet

Brian Gaudet works with private and public companies to help design tax-optimal legal entity structures and day-to-day transaction flows. Brian has wide-ranging experience handling domestic and international transactional tax work for buyers, sellers, and investors as well as experience in state & local…

Brian Gaudet works with private and public companies to help design tax-optimal legal entity structures and day-to-day transaction flows. Brian has wide-ranging experience handling domestic and international transactional tax work for buyers, sellers, and investors as well as experience in state & local tax and tax incentive work, including Qualified Opportunity Zone transactions.

Brian also has Tax & Business practice experience that includes estate planning and trust & estate administration. Brian’s Corporate practice experience includes corporate governance & compliance, mergers & acquisitions, private equity, restructuring, and real estate structuring. He approaches issues tactically, with years of experience developing practical legal strategies for clients. For more than a decade, he served as the Head Tax Counsel at CVS Health.

Brian regularly writes on issues related to his tax practice, including IRS Source-of-Income Rules and Business Interest Deduction Limitations for Health Care Entities.

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Photo of Laura Hendee Laura Hendee

Laura A. Hendee is a member of the Tax Practice in Greenberg Traurig’s Tampa office. Laura’s experience includes the preparation of entity formation documents relating to complex financial investments in Qualified Opportunity Zones, Qualified Opportunity Zone Businesses, tax credits, and related state and…

Laura A. Hendee is a member of the Tax Practice in Greenberg Traurig’s Tampa office. Laura’s experience includes the preparation of entity formation documents relating to complex financial investments in Qualified Opportunity Zones, Qualified Opportunity Zone Businesses, tax credits, and related state and federal incentive programs.

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Photo of Andrew P. Rubin Andrew P. Rubin

Andrew P. Rubin is a community development and infrastructure finance tax attorney. His practice is focused on helping nonprofits and state, local, and tribal governments finance development and redevelopment projects that support local communities. Andrew Rubin is also a leader in Greenberg Traurig’s…

Andrew P. Rubin is a community development and infrastructure finance tax attorney. His practice is focused on helping nonprofits and state, local, and tribal governments finance development and redevelopment projects that support local communities. Andrew Rubin is also a leader in Greenberg Traurig’s nonprofit practice, serving as a trusted advisor to nonprofits. Andrew helps nonprofits serve the public by guiding them through corporate governance, tax financing, and transactional matters.

Andrew’s toolbox includes the full spectrum of tax-advantages financing tools, including tax-exempt bonds, new markets tax credits (NMTC), low-income housing tax credits (LIHTC), renewable energy tax credits (ITC/PTC), historic tax credits (HTC), 45Q tax credits (CO2 sequestration), state and local tax incentives and tax increment financing, and government loan guarantees (BIA, HUD, USDA) that can be used to fund infrastructure, transportation, multifamily housing, community services, health clinics and hospitals, schools, libraries, and renewable energy projects.

Andrew also has a robust state and local tax practice, regularly navigating the complex map of state and local taxes across the Mountain West (focusing on Arizona, Colorado, Montana, North Dakota, Utah, and Wyoming), including sales and use taxes, transaction privilege taxes, severance taxes, and Arizona’s speculative builders tax.

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