Darlene (Dee) Smolik, President of Plymouth Soundings has a proven track record in “delivering” the unique services that help each Client through the challenges of a Tax Credit financing and related impacts for the organizational structure and operations. Clients benefit from Ms. Smolik’s extensive experience in project and financial management, construction, accounting, and finance.
As a member of the Client’s team, Plymouth Soundings offers:
- Knowledge to identify and recommend the required and qualified additional resources needed.
- “Hands on personal experience” in development, operations, finance, and accounting.
- Proven capability to efficiently manage and coordinate multiple players with dissimilar challenges and deadlines.
- Flexibility to provide tailored services, as needed, when needed.
- Experience with architectural, construction scheduling and completion challenges, and related risks and impacts for funding and Tax Credit compliance.
Scroll down to view information on all Services that can be provided throughout the project.
Planning & Design
Tax Credit Financing ideally commences at Project Inception. PSL's involvement during the initial phase of the project is vital to the Client and to the success of the Project.
The Financing process is intense requiring multiple reports, financial analysis and interaction with required Tax, Legal and Accounting teams, Investors, Banks, Client Counsel and the Client.
Manages and tracks construction costs, budget reconcillations, cash flows, loan draws, unique accounting procedures and problem solving have proven to be invaluable to Clients.
Oversees the transition from construction to the compliance and operations periods. New accounting and reporting procedures are implemented and monitored.
Investor Exit - Wind Down
Coordinates the Wind Down process and assists teams with planning, implementation and coordination of the process for client and for Investors and CDE(s) (if NMTCs) exit.
In the midst of the Great Recession, PBS39 undertook the single largest building project in its nearly 50 year history. Creating a state of the art public media facility in the shadows of the former Bethlehem Steel blast furnaces was a huge leap of faith, both in terms of location risk and financial risk.
Without the leveraging power of New Markets Tax Credits, this nearly $30 million transformational endeavor would never have come to fruition. And the only way that we were able to execute on this incredibly complex and structured strategy was by having the day to day, steady and experienced hand of Plymouth Soundings and Darlene Smolik with us.
I can say without hesitation that PBS39 at SteelStacks would not be here today were it not for the partnership with Plymouth Soundings.