Nonprofit QALICB Considerations
Greg Clements
Partner
Novogradac & Company LLP
Gregory Clements is a partner in the Dover, Ohio, office of Novogradac & Company LLP, where he specializes in new markets tax credits (NMTCs), renewable energy tax credits (RETCs), historic tax credits (HTCs) and low-income housing tax credits (LIHTCs). Since joining the firm in 2004, he has worked closely with real estate developers, community development entities, syndicators and investors on structuring NMTC transactions in addition to providing traditional audit and tax services. Mr. Clements earned a bachelor’s degree in accounting and finance from Walsh University in North Canton, Ohio. He is a licensed certified public accountant in Ohio.
Tamar deFries
Partner
Pacific Growth Associates LLC
Tamar deFries has more than a decade of experience in project design, implementation, management, evaluation and assessment. Her main focus is now on socioeconomic development among underserved and distressed communities by facilitating projects and securing capital improvement project financing for mission-driven entities and communities that allows them to build their vision for their community. In doing so, she facilitated the first new markets tax credit (NMTC) transaction on Hawaiian home lands, targeted population transactions and transactions with United States Department of Agriculture (USDA) and Health Resources and Services Administration (HRSA) funding. Ms. deFries has secured millions in capital-improvement project grants for mission-driven entities and communities by providing grant writing services and leveraging resources. She believes that the real work begins when financing is achieved and continues to support projects by providing training and technical assistance in evaluation and assessment, compliance, procurement and financial management. She received her undergraduate degree from Colorado State University and graduate degree from the University of Hawaii at Manoa.
Darryl P. Jacobs
Partner
Ginsberg Jacobs LLC
Darryl Jacobs has more than 20 years’ experience in tax and corporate law. His practice focuses on international, state and federal tax matters, with a primary concentration on tax credit financing transactions. Mr. Jacobs regularly counsels developers, investors, syndicators and lenders on new markets tax credits (NMTCs), historic tax credits (HTCs), low-income housing tax credits (LIHTCs) and preservation easements. Additionally, Mr. Jacobs is featured frequently as a speaker at local and national tax conferences. His corporate experience includes mergers and acquisitions, complex corporate transactions and private placements. Mr. Jacobs is also adept in the structuring of joint ventures, limited liability companies and partnerships. Mr. Jacobs was formerly a partner at Sachnoff & Weaver and Levenfeld Pearlstein LLC. Mr. Jacobs earned his bachelor’s degree from the University of Illinois and his juris doctor from Harvard Law School.
Frederick W. Miller
Partner
Lathrop & Gage LLP
Frederick Miller uses his diverse experience in transactional real estate and lending law, including his primary focus of tax credit and other incentive-based financing, to address the objectives of his clients in an efficient, practical and creative manner. Mr. Miller advises clients in all aspects of a transaction, including structuring, negotiating documentation and advising as to ongoing compliance matters. His local and national clients include key investors in the tax credit industry, nonprofit and for-profit real estate developers, community development entities, and leverage lenders. In addition, Mr. Miller has represented numerous borrowers and nationally recognized lenders in connection with complex asset-based lending transactions.
Alan Pasternack
Attorney
Butler Snow LLP
Alan Pasternack is a tax and transactional attorney specializing in business and real estate transactions involving tax advantaged investing and community development. Mr. Pasternack concentrates his practice on representing nonprofit corporations, for-profit businesses and developers throughout the United States in structuring, negotiating and documenting transactions in which a significant portion of the financing is derived from federal and state new markets tax credits (NMTCs), historic rehabilitation tax credits (HTCs), low-income housing tax credits (LIHTCs), tax-exempt bonds and other government loans and grants. Mr. Pasternack also has experience representing community development entities (CDEs) and institutional investors in such transactions. Mr. Pasternack’s experience includes transactions using multiple financing sources, including transactions twinning NMTCs with HTCs, transactions involving NMTCs and tax exempt bonds, and transactions in which the leverage is derived from other governmental grant and subsidy programs, including state NMTCs, state, county, and city grant programs, and grants from the Health Resources and Services Administration (HRSA). Mr. Pasternack is a member of the Governing Committee of the American Bar Association Forum on Affordable Housing and Community Development Law. Mr. Pasternack received a master’s degree in taxation from Golden Gate University in 2004 and a juris doctor from Cornell Law School in 2008. Mr. Pasternack earned a bachelor’s degree in Asian studies with a concentration in history from Colgate University in 1983.
Marc L. Schultz
Partner
Snell & Wilmer
Marc Schultz is a partner in the Phoenix office of Snell & Wilmer. Marc currently chairs Snell & Wilmer’s Tax Credit Finance Group and Renewable Energy Group. Mr. Schultz’s practice is concentrated in federal, local and state taxation matters, including complex transactions involving corporate, limited liability companies, limited partnerships, tax exempt entities and real property. Mr. Schultz has represented numerous investors, developers, and syndicators with respect to low-income housing tax credit (LIHTC) transactions and has represented numerous parties with respect to new markets tax credit (NMTC) transactions. Mr. Schultz also regularly advises renewable energy project developers and investors with respect to project-based financing and renewable energy tax credits (RETCs). Mr. Schultz is a regular speaker and panelist on the subject of tax credit finance and has written numerous articles and has been quoted in publications with respect to this subject area. Aside from tax credit finance, Mr. Schultz also represents parties in mergers and acquisitions, joint ventures, formation of private investment funds and transactions involving REITs and like-kind exchanges. Mr. Schultz has also served as an adjunct professor, teaching taxation of business entities in the graduate program of accountancy at the University of Illinois-Chicago. Mr. Schultz received his juris doctor from the Chicago-Kent College of Law and was elected to the Order of the Coif. Mr. Schultz also received his master of laws degree in taxation from New York University School of Law.