Financing – The Tax Credit Process
Plymouth Soundings identifies action steps required to complete the Tax Credit financing process and works with the Client to identify the services needed to complement the Client’s team. Based on the Client’s initial information, Plymouth Soundings works with the Client to develop the financial data required to approach each Historic Tax Credits investor, and, if applicable, for New Markets Tax Credits, reviews the information and identifies the related community development entities (CDE’s) and investors that provide the necessary allocations.
Plymouth Soundings will identify and recommend knowledgeable tax credit legal counsel and syndication accountants, will coordinate the financing with the Investor, legal and tax counsels, banks, granting agencies, tax credit team, and work to assure efficient information flows and problem resolution.
Plymouth Soundings goal is to complete the project financing in the most efficient and effective way possible and to maintain compliance throughout the period to potential investor exit.
A sampling of Tax Credit financing services provided by Plymouth Soundings are:
- Guidance for data collection, preparation and reporting processes.
- Translation of the needs of lenders, investors, accounting and tax counsel.
- Identification, assistance, and interaction with potential investors and/or CDE’s.
- Preparation of sources, uses, and budgets required by investors and CDE’s.
- Guidance to Client in forming new entities and subsequent accounting and operational changes.
- Coordination with the Tax Credit team of professionals in preparation of all documents for project planning, financing, and closing.
Dee and the hand-picked team of legal and accounting professionals she directs have been extraordinary at leading us through the complex and bewildering process of tax credit financing for a nonprofit project.
She is always clear, concise, personable and transparent, even when delivering tough news or explaining convoluted issues. She has worked miracles for this project and I would not want to tackle a tax credit project with anyone else.