This session will discuss using New Markets Tax Credits with for-sale homeownership projects, including how to structure a transaction with New Markets Tax Credits, how to find NMTC allocation for a project, how to use the “net benefit” from NMTCs to increase the capacity of a project and generally how to determine if NMTCs are right for your project.
Howard J. Smith, Principal and co-founder of Smith NMTC Associates, LLC, draws on 30 years’ experience in real estate development law, finance, construction and a JD from Washington University School of Law. Armed with a groundbreaking idea shaped through his ongoing work with Habitat for Humanity, Howard developed the NMTC Housing Model, which applies federal New Markets Tax Credits (NMTCs) to “for-sale” affordable housing as a funding vehicle for Habitat for Humanity affiliates and other nonprofit affordable for-sale housing developers. Howard is the author of numerous articles, including “Mosaic Communities: An Innovative Approach to Funding and Revitalizing Low Income Communities”.
Jill Gilbert brings an extensive background in corporate and other transactional work to her role as General Counsel for Smith NMTC Associates, LLC. Her responsibilities include sourcing allocation for projects, developing and managing transactions, guiding QALICBs during transaction due diligence phases and working closely with outside counsel on all aspects of transactions. An active community volunteer, Jill has volunteered with the John Felice Rome Center St. Louis Alumni Chapter, St. Liborius Food Pantry and Reed School Association. Jill earned her law degree with cum laude distinction from St. Louis University School of Law.