River Ridge has robust experience with a diverse mix of project types, and many of our clients’ projects have benefited from additional sources of federal, state, or local subsidy capital to leverage or complement the NMTC benefit. We maintain a broad, national network of industry relationships and have earned high regard amongst Community Development Entities (“CDEs”), investors, and their legal counsel as a result of the value we provide to our clients. Since 2010, we have consulted on more than $800 million of NMTC transactions.
For project sponsors, River Ridge:
• Provides technical expertise related to financial structuring and benefit analysis
• Sources and arranges tax credit allocation from CDEs and equity investment from tax credit investors
• Manages the entire transaction closing process, including coordination of due diligence, documentation requirements, and fund flows
• provides post-closing support during the NMTC compliance period
River Ridge provides advisory services to investors, developers, EPCs, governmental organizations, and non-profits on renewable energy projects. Our advisory services and financing solutions focus on the development of solar, battery storage, wind, fuel cells, and other energy assets.
For renewable energy project investors, River Ridge offers:
• Transaction identification, origination, and due diligence
• Structuring and underwriting RETC transaction investments
• Negotiating and closing of RETC investments, including oversight and management of all legal and accounting aspects
• Coordinating the financial reporting, accounting, and tax requirements for investment
• Oversight of project’s ongoing programmatic compliance
For project sponsors, we offer:
• Early stage project assessment
• Analysis, underwriting and structuring of RETC financing
• Sourcing tax equity
• Sourcing non-tax credit equity and debt
• Negotiating and closing RETC investments, including oversight and management of entire transaction closing process and legal and accounting aspects
The Federal Historic Rehabilitation Tax Credit (HTC) program allows building owners or third-party investors to receive a credit against Federal income taxes for the rehabilitation of qualifying historic properties. A 20% credit is available for the substantial rehabilitation of commercial, industrial or residential buildings that are certified as historic. The HTC totals 20% of the “qualified rehabilitation expenses” of the project and is claimed over a five-year compliance period.
Our HTC experience ranges from large multi-faceted mixed-use and commercial projects to smaller HTC transactions twinned with New Markets Tax Credits and/or other state and local financial incentives. For project sponsors, River Ridge provides pre-development, structuring, and closing execution services, including:
• Review of historic qualification/status
• Assessment of project viability and historic pre-development benchmarks
• Provision of technical expertise related to financial structuring and benefit analysis
• Structuring and underwriting HTC investments
• Negotiating and closing HTC investments, including oversight and management of all legal and accounting aspects
• Supporting the sponsor with ongoing programmatic compliance
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