Using Tax Credit financing will impact every area of your project from the initial feasibility study, through construction, project close out, and future operations. Most of Plymouth Sounding’s clients do not have the resources in-house, the time or the background to effectively that have the time or the background to effectively manage, execute and comply with all of the conditions and challenges of the Tax Credit financing process.
Getting the most out of the Tax Credit programs requires knowledge and experience in both construction and tax credit financing. While emphasizing Tax Credit financing, Plymouth Sounding’s broad expertise extends to the overall rehab/construction process offering Clients additional benefits and guidance when integrating Tax Credit financing activities into their Projects.
This program is really not about how smart a person or staff at a project is. It is about understanding a hundred different fine points about the program, regulations, and requirements of all parties. Missing some of those fine points could at worst ruin a project or at the very least cause significant legal fees and other costs as the project stumbles around learning what everything means.”US Bank
Darlene Smolik, the firm’s principal, works as an extension of your staff, providing what is needed when needed. The depth and breadth of her experience enables Plymouth Soundings to add value to many components of the financing and general project process. Working in this way, Clients can benefit from specialized expertise without the burden of additional full time employees. This approach results in a successful project that has received the full benefit of Historic and New Markets Tax Credit financing programs.
Our Clients include non-profits, private developers and quasi – governmental agencies.
By using your consulting services they are getting the benefit of having a professional to explain the deal issues that arise during the closing process. It is actually a cost savings to the Client because without you on their team they would likely rely on their Counsel to “hand hold” them through the process. Counsel can do it but the cost savings as to having you do the explaining and having Counsel stick to the documentation has to be huge to any QALICB Client.US Bank
Plymouth Soundings LLC’s Tax Credit Financing Projects include:
- Historic Theatres: In multiple states using multiple combinations of credits
- Brownfield Development: New Performing Arts Center, New Public Broadcasting and Media Event Center
- Town Shopping Center in VA: For a town impacted by devastating floods
- Historic Hotels: Rehabilitation and repurposing
- Multiple short-term consults and evaluations of tax credit potential for projects in the planning stage
Our transactions would NOT have been completed had we not enjoyed your guidance at all levels. Two-tier funding, Portions of Business, the accounting requirements prior to, during and subsequent to closing, the handling of in-kind, and the deal structure required to generate the credits ArtsQuest