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Norman L. Jones III

Shareholder
p (612) 604-6605   f (612) 604-6905 
Education
University of Minnesota Law School, J.D., cum laude, 1996
Hillsdale College, B.A., honors, magna cum laude, 1992
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Experience
Norm Jones joined the tax credit practice at Winthrop & Weinstine, P.A. in 1997.  Norm's areas of expertise include:  Historic Credits (HTC), New Markets Tax Credits (NMTC), Low-Income Housing Credits (LIHC) and Energy Credits.   Prior to joining Winthrop & Weinstine, Norm practiced with a major accounting firm. Norm is a closing-oriented problem solver.

Historic Credits:  Norm represents several institutional investors and developers in historic credits. 

  • Acts as fund counsel for a national syndicator of federal historic credits. 
  • Creates national and state historic multi-investor and single-investor funds, including drafting of fund level operating agreements and offering documents.
  • Acts as fund counsel for several state credit funds, including in Virginia, New York, North Carolina and South Carolina. 
  • Conducts project-level negotiations and due diligence.
  • Connects developers with lenders of construction and permanent debt.
  • Represents several active historic bridge lenders, bridging state and federal historic equity. 
  • Pioneered new state credit fund structures in response to the Virginia Historic state credit case.
  • Guides investors through the new IRS "Safe Harbor" for historic investments.   

New Markets Tax Credits:  Norm has helped developers and leverage lenders close approximately 75 NMTC financings. 

  • Assists with initial strategy development for obtaining NMTC project allocations, then helps negotiate terms, and identify debt and equity sources.
  • Problem solves throughout the closing process.
  • Advises bank leverage lenders as to collateral options and structuring options and risks. 
  • Closed several state NMTC transactions, helped blend state requirements with the federal program.
  • Closed  NMTC projects paired with historic credits and energy credits.
  • Completed several Year-7 Exits, ending the life cycle of NMTC investments.  

Low-Income Housing Credits:  Norm has represented developers in closing hundreds of LIHC projects.

  • Adapts finance strategy to suit the project: whether the project is a large urban core redevelopment involving multiple sources of financing and multiple state and federal credits, or a small strong project in a rural area trying to overcome a scarcity of LIHC investors.
  • Closed many tax-exempt bond transactions using 4 percent LIHC.
  • Represents developers in mixed-income projects, senior projects and assisted living projects.
  • Conducts work-outs of Historic Credit and LIHC investments, which may involve debt restructuring, resyndication or acquisition of general partner interests.  

Energy Credits:  Norm represents solar and wind developers on real estate and permitting issues, Power Purchase Agreements (PPA) negotiations, equity and debt financing arrangements and equipment purchases. 

  • Arranges and closes debt and tax equity financing for community solar gardens and PPA projects.
  • Assists several solar project developers, lenders and tax equity investors in the upper Midwest. 
  • Creative use of capital leases, operating leases and alternative ownership arrangements to satisfy state requirements and local utility programs. 
  • Interacts with various utilities and state agencies who offer solar incentives to achieve financeable projects and appropriate federal tax benefits.
  • Advises on municipal and utility ownership in connection with ITC eligible projects.
  • 700MW+ of renewables closed.

Bar Admissions
Minnesota
Iowa

Articles & Presentations
Qtd. Jossi, Frank. "Minneapolis attorney’s tax plan could clear the way for more solar." Midwest Energy News. 10 November 2016.
 
Panelist. "Case Study in Mixed-Use Historic Rehabilitation - 'Custom House Saint Paul'" 2015 Real Estate Institute. Minnesota CLE. 22 October 2015.

Presenter. "Utilizing Tax Credits & Grants for Real Estate Development & Acquisition." Minnesota Real Estate Journal. 7 November 2014.

Qtd. "Firm Aims to Expand: Vesta Corporation Hopes to Grow While Maintaining Firm Attention to Detail." Affordable Housing News. Fall/Winter 2013.

Presenter. "Using the New Minnesota Historic Tax Credit." Hennepin County Bar Association, Affordable Housing Section, 22 Sept. 2010.

Qtd. Leith-Tetrault, John. “History and the Hill: If at First You Don’t Succeed…” Journal of Tax Credits. July 2010.

Qtd. Anderson, Mark. “Affordable housing tax credit could get extended.” Finance and Commerce. 22 May 2010.

Presenter. "Energy Credits for Multifamily Housing." Hennepin County Bar Association Lunch Series, 25 June 2009.

Moderator. "Solar Energy 101." Minnesota Real Estate Journal Renewable Energy Summit, Golden Valley, MN. 31 July 2009.
 
Moderator. "Financing Green: The Development Proforma." LEEDing Green Development, Minneapolis, MN. 2 Oct. 2008.
 
Presenter. "Turning Energy Credits Into Cash." 25th Annual Real Estate Institute. St. Paul, MN. 9 Nov. 2007.
 
Panelist. "Understanding Current Deal Structures." 2007 National Historic Tax Credit Conference. Philadelphia, PA. 19-20 June 2007.
 
Panelist. "Using Tax Credits to Finance Solar, Wind and Other Renewable Resources." 2007 Financing Renewable Energy Conference. Hosted by Novogradac & Company LLP, San Francisco, CA. 2-3 May  2007.
 
Honors & Awards
  • The Best Lawyers in America©
    • Real Estate Law, 2018
  • Rising Stars, Minnesota Law & Politics, 2008
  • “Attorney of the Year,” Minnesota Lawyer, 2006
  • Trogner Scholar, University of Minnesota
Community
Professional Associations & Memberships
  • National Association of Bond Lawyers
  • Minnesota State Bar Association
    • Taxation Section
 
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