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Historic Tax Credit Transactions

Practices

Historic Tax Credit Transactions

We have represented many clients on a national basis in the use of Historic Tax Credits (HTC) which are a federal subsidy that our clients rely on to support the restoration of historic building, many of which have been certified by the National Park Service as historic.

The HTC program is administered jointly by the Department of the Interior and the Department of the Treasury. We guide our clients through each step of the process which can be quite challenging in order to ensure a successful outcome, often utilizing other tax credits along with HTC. 

  • Counsel to borrower in connection with Historic Tax Credit, 1602 Grants (in lieu of Low-Income Housing Tax Credits), tax increment financing, and tax-exempt and taxable bond financing for a $130 million renovation of a 44-story mixed-use building in Downtown Chicago.
  • Counsel to borrower in connection with Historic Tax Credit financing for a $30 million renovation of a zoo in Atlanta, Georgia.
  • Counsel to borrower in connection with Historic Tax Credit Financings for $32 million renovation of 5 mixed-use projects in Baltimore, Maryland.
  • Counsel to investor in connection of Historic Tax Credits financing for $9 million renovation of bank building in Pittsburgh, Pennsylvania.