Our attorneys represent developers and investors in utilizing federal and state tax credits, in conjunction with other creative sources of financing, to get deals done that work towards the betterment of our communities.
Tax credits may seem like an intangible idea, hard to grasp at. But they result in creating very tangible, very real projects and developments that improve our society as a whole. Real estate development is a long, costly process, and for communities that need it most, often out of reach. Through our work with tax credits, projects that would otherwise be impossible by conventional methods, are made possible by finding creative sources and financing solutions to satisfy your goals, short term and long term. When you are involved in the development of affordable or market rate housing, commercial space, office space, retail, or making energy-efficient improvements, our attorneys work with you every step of the way, whether it is your first deal or you have a track record of projects under your belt.
Because of our long history in the field, we have worked with many varied players in the industry, including government financing, lenders, investors, title companies, surveyors, sellers, and others. We use these connections to introduce clients to new business opportunities, funding partners, and vendors that they might not have otherwise been exposed to.
We partner closely with you to arrive at the best business terms, know the finances, and negotiate on your behalf, but we also work behind the scenes in every aspect of the deal, pulling levers and making sure the gears turn, to ensure that the deal arrives at closing and always with an eye to getting projects built.
Low Income Housing Tax Credits
Winthrop attorneys worked on the very first Low Income Housing Tax Credit deal in Minnesota back in 1987. Now over 30 years later, we have closed thousands of affordable housing transactions financed with Low Income Housing Tax Credits, and continue working every day with developers and investors in bringing affordable housing to Minnesota and nearly every state around the country. Whether you are working on a 30-unit senior affordable living facility using 9% tax credits, or a 300-unit multi-family development using 4% tax credits, our attorneys have the experience, skills and industry connections to help you reach your goals.
Historic Tax Credits
We believe that preservation of historic buildings is a responsibility of our generation, and the legacy of the past that we can help usher into the future. We help developers and investors take dilapidated, crumbling, and unloved historic buildings and convert them into useful, beautiful structures that serve as hubs of our communities. From restoring downtown historic skyscrapers, like the Foshay Tower in Minneapolis, to their former glory, to creating housing with supportive services for homeless veterans at Fort Snelling, our attorneys partner with you to creatively structure deals to rehabilitate and reuse historic buildings.
New Markets Tax Credits
Investment in underserved and impoverished communities drives job creation and economic opportunities, and we work with developers, investors, allocatees and lenders in some of the most complex tax credit deals to create these opportunities. Whether you are working on office space, hotels, theaters, retail, manufacturing, housing, or any combination of them, our attorneys work closely with you to realize your goals.
Energy Tax Credits
Solar, wind and other sources of renewable energy are becoming more accessible and desired every day, and we work with developer and investors to finance and create the infrastructure required to provide it. Our attorneys partner with clients to get the most value out of tax credits to maximize the impact of your project and give it more power.
State Tax Credits
When it comes to tax credits and their sources, our philosophy is the more the merrier. We help clients procure, structure and use financing from every available outlet, to find creative methods of securing the financing to see projects to completion. Our clients take advantage of state tax credits as well as federal ones, without which affordable housing, historic and economic development projects might not otherwise be possible.
- Identifying and formulating solutions to all types of legal, underwriting, general business and tax risks
- Obtaining, monetizing, and structuring tax credits, including federal and state Low Income Housing Tax Credits, historic tax credits, new markets tax credits and energy tax credits
- Structuring and negotiation of all documents evidencing debt, grant and equity financing from numerous sources
- Negotiation of construction contracts, architect’s agreements, and all other agreements required in connection with the construction, development and operation of property
- Negotiation of development agreements with state and local governments
- Assisting with zoning and permitting issues
- Obtaining and structuring tax increment financing for projects
- Documenting co-general partner relationships
- Identifying / finding equity for market rate projects
- Assisting with tricky compliance issues
- Addressing environmental issues
- Obtaining and qualifying for all types of capital, rental, or operating assistance programs
- Formulating strategies for limited partner exits
- Analyzing and solving complex tax problems
- Providing a full range of federal and state tax advice
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