Tax Credit Syndication

Our robust, experienced team is nationally recognized for its ability to handle tax credit issues with clarity and efficiency, bringing to bear decades’ worth of collective legal insight for the benefit of our clients.

Partnering with local developers and investors, Miles & Stockbridge’s mission-driven clients have invested billions of dollars in hundreds of communities, and in doing so have preserved their affordability for residents.

Miles & Stockbridge lawyers have been at the forefront of tax and legal developments. Our tax credits practices stretches back to the creation of the Low-Income Housing Tax Credits (LIHTC) program, including pioneering tax credit adjusters, use of co-ops in LIHTC transactions, grant-loan structures, negotiation of the Urban letter (now Choi letter), as well as the negotiation of Revenue Procedure 2014-12 for historic rehabilitation credits. More recently, we have been involved in the development and structuring of opportunity zones transactions and have secured private letter rulings on behalf of our clients.

In particular, our team has experience closing transactions that involve LIHTC, historic rehabilitation tax credits (HTC), New Markets Tax Credits (NMTC) and renewable energy tax credits. Our lawyers have represented developers, lenders, syndicators and other private equity investors in structuring financial arrangements involving tax credits. Frequently, these transactions include state credits and other federal, state and local subsidies. Our lawyers have also represented state allocating agencies regarding the administration of federal and state LIHTC programs, and in issues involving negotiations with the IRS.