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HISTORIC TAX CREDITS

Future Unlimited Law PC represents developers, CDEs, and investors nationwide in the Historic Tax Credit financing of the rehabilitation of commercial, mixed-use and residential rental property, including transactions financed with a combination of Historic and New Markets or Low-Income Housing Tax Credits, and other federal, state, local and conventional financing.

Our services include:

  • structuring transactions
  • negotiating and drafting commitment letters
  • negotiating and drafting debt and equity financing agreements
  • consulting as HTC co-counsel
  • coordinating closings
  • issuance of legal and tax opinions
  • post-closing tax credit compliance

REPRESENTATIVE TRANSACTIONS

Convention Plaza – Portland, Oregon

Represented Bridgehead Development, LLC, the developer, in the Historic Tax Credit financing of the rehabilitation of Convention Plaza, consisting of 80,655 square feet of office/workspace, retail space and restaurants.

 


619 Western – Seattle, Washington

Represented L & B Property Investments LLC, the developer, in the Historic Tax Credit financing of the rehabilitation of the 619 Western Building, consisting of 74,505 square feet of office and retail space.


Roshek Building - Dubuque, Iowa

Future Unlimited Law co-represents the developer, Dubuque Initiatives, Inc., an Iowa nonprofit corporation, as Historic Tax Credit counsel, in the combined Historic and New Markets Tax Credit financing of the historic restoration of the former Roshek Brothers Department Store Building, also known as the Dubuque Building, located in the heart of Dubuque’s downtown business district.  The project will house an IBM corporation technology service delivery center and retail space.  IBM has partnered with Dubuque Initiatives to commit to use 10 percent of the net New Markets Tax Credit benefit to fund sustainability-oriented job training opportunities for surrounding low-income communities. 


  
Historic Park Inn Hotel - Mason City, Iowa

Future Unlimited Law co-represents the developer, Wright on the Park, Inc., an Iowa nonprofit corporation, as Historic Tax Credit counsel, in the combined Historic and New Markets Tax Credit financing of the restoration of the Historic Park Inn Hotel and City National Bank Building.  The buildings, designed by American architect Frank Lloyd Wright, are to be used as a 27-room hotel and conference center.  The Park Inn Hotel is the only remaining Wright-designed hotel in the world. 

 



Steinbach Building, Asbury Park, NJSteinbach Building - Asbury Park, NJ

Future Unlimited Law PC represented Emory Realty Urban Renewal, LLC, a New Jersey limited liability company, an affiliate of Sackman Enterprises, Inc., a New York-based real estate developer in the historic tax credit financing of the rehabilitation of the former Steinbach Department Store in Asbury Park, New Jersey. The building will consist of 63 luxury loft apartment units, 24,000 square feet of commercial space and parking. Financing included tax credit equity, construction and permanent loans and local tax incentives.

 

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