Historic Rehabilitation Tax Credits

At Nolan Sheehan Patten, we regularly represent developers, non-profit organizations, syndicators and investors on the utilization of the federal and state Historic Rehabilitation Tax Credit (“HTC”) as a resource to generate equity for real estate development projects. These projects include the acquisition and rehabilitation of industrial mill buildings, theatres, commercial office buildings, retail buildings and hotels. We guide our clients through the intricate real estate and tax issues involved in these transactions including overall deal structuring, master lease structures and condominium structures.

We frequently advise clients on structures that combine the HTC with the federal Low-Income Housing Tax Credit, the federal New Markets Tax Credit and state tax credits. These structures typically involve multiple investors and multiple investment vehicles.

In particular, Nolan Sheehan Patten helps clients with:

  • Deal structuring and master lease considerations.
  • Preparation of investment and syndication documents.
  • Preparation of organizational documents.
  • Tax advice, including issuing tax opinions.
  • Compliance with United States Secretary of the Interior requirements.
  • Advice in connection with real estate, development and land use matters.
  • Combining HTC with other tax credits.
  • Coordinating financing sources.

Click here to view representative projects