Tax Credit Financing

Pullman & Comley’s Real Estate and Government Finance attorneys possess extensive experience working with various State and Federal Tax Credit programs, including the Federal and Connecticut Historic Tax Credit programs, the Federal New Market Tax Credit program, the Federal Low Income Housing Tax Credit program, as well as various Connecticut-based tax credit programs.  Clients include developers, State agencies and authorities, lenders, and buyers and sellers of tax credits.

Representative Experience

  • Representation of a developer in multiple aspects of a large scale mixed-use development in the south end of Stamford, including work in connection with the sale of Connecticut Historic Tax Credits to a local utility.
  • Representation of a State authority and various State agencies lending monies to large-scale housing projects in downtown Hartford involving both Federal and State Historic Tax Credits.
  • Representation of a municipality and related development entities in connection with the redevelopment of a former city hall financed in part by New Market Tax Credits and Federal and State Historic Tax Credits.
  • Acted as developer’s counsel for two transit-oriented development housing projects located in downtown Bridgeport that were funded in part by Federal and State Historic Tax Credit investments.
  • Counsel to a local private school serving underprivileged urban children in connection with the construction of a new school facility in Stamford financed through the use of New Market Tax Credits.
  • Counsel to numerous local housing authorities and developers with respect to low and moderate income housing projects financed in part with 9 percent and 4 percent Low Income Housing Tax Credits.
  • Represented a State agency in documenting multi-million dollar tax credit transactions involving Connecticut’s Urban Reinvestment Program.
  • Counsel to a Qualified Fund under Section 38a-88a of the Connecticut General Statutes - the Insurance Reinvestment Fund Tax Credit program - including issuing opinion letters regarding the qualification of the Fund under the Statute and the forfeiture rules thereunder.
  • Regular representation of the community finance arm of a large national banking institution, including loans financed in part by New Market Tax Credits for a historic theater complex in Bridgeport.

Case Studies