NMTC Advisory Services

SB Friedman continuously works with Dallas Development Fund (DDF)—the City’s nonprofit NMTC financing entity—to support all elements of its NMTC program. Through this role, we’ve helped successfully apply for and deploy three rounds of tax credits totaling $130 million.

We were initially selected by the City of Dallas to prepare a competitive application in the 2009 NMTC allocation round. In the process of preparing this application, we assisted in devising strategic goals for the NMTC program, defining areas of investment focus, and designing financial products to achieve maximum impact on community needs and build off existing City programs.

Since 2009, our role has expanded beyond writing successful applications to supporting all aspects of the program, including pipeline development, deal structuring, investor outreach, transaction underwriting, closings, compliance, asset management, and community impact measurement. Some highlights include:

  • Leading application writing efforts that entail extensive outreach and coordination to City departments and pipeline projects;
  • Developing a pipeline of projects that aligns with and supports DDF’s mission;
  • Providing extensive technical assistance to potential projects to maximize benefits of NMTC financing;
  • Structuring and closing transactions that incorporate a variety of City financing programming, including tax increment financing (TIF), HUD 108, and EB-5; and
  • Providing ongoing asset management and compliance support for borrowers and to investors.

Results: SB Friedman continues to assist DDF in pursuing additional credits from the U.S. Treasury while providing asset management services for its portfolio of 12 existing transactions.

 

Image Source: Charles Davis Smith, AIA