We place federal and state tax credit equity for developers and structure the funds that hold it for investors. Affordable housing is where we started, and it remains the core of what we do.
Most of the transactions we see combine more than one credit. A historic mill becoming affordable housing, a community facility twinning new markets with state credits, a solar array on a nine percent deal. We underwrite the whole capital stack rather than one line of it, including incentives that sit next to the credits rather than among them.
The core of our practice. Credits are claimed over ten years against a fifteen-year compliance period, and the program finances the large majority of affordable rental housing built in the United States.
A twenty percent federal credit on qualified rehabilitation expenditures for certified historic structures, claimed ratably over five years. Frequently twinned with housing credits on adaptive reuse.
Thirty-nine percent of the qualified equity investment, claimed over seven years, deployed through certified Community Development Entities into businesses and facilities in low-income communities.
Investment credits for solar, storage and other qualifying generation, plus efficiency credits available on new residential construction. Rules in this area have moved substantially in recent legislation, so we underwrite each deal against current law.
More than half the states run a credit that supplements a federal program. Some are allocated alongside the federal credit, others are certificated or transferable and trade in a secondary market.
Not a credit but an equity incentive, and one that frequently sits alongside one. Investors reinvest capital gain into a qualified opportunity fund and defer, and partly exclude, tax on that gain. The program was made permanent in 2025, with new zone designations taking effect in 2027 and enhanced terms for rural investment.
The equity partner is the one you live with for fifteen years, long after the closing dinner. What matters is whether the underwriting was real, what triggers an adjuster, and who actually has authority to approve a commitment.
We answer those questions in writing. Every letter of intent we issue states the credit price, the pay-in schedule, the adjuster provisions, the guaranty expectations, and the fund the investment would sit in. Nothing an allocating agency has to guess at.
We would rather decline in week one than issue a letter we cannot stand behind when pricing moves.
Tax credit investments offer a dollar-for-dollar reduction in federal liability with a defined delivery schedule, backed in the housing credit program by a long record of low foreclosure rates relative to conventional multifamily.
For banks and thrifts, the same investments generate Community Reinvestment Act consideration in assessment areas that are difficult to serve through lending alone. For corporate taxpayers, credits offer a predictable offset with a measurable community result behind it.
Our funds draw on high net worth individuals, family offices, closely held businesses and corporate taxpayers. We structure proprietary funds for a single investor and multi-investor funds for smaller allocations.
We are glad to walk through underwriting standards, credit delivery schedules and return structures before you commit to anything.
The same sequence on every transaction, whatever the credit. We tell you early if it does not work.
Send sources and uses, rent roll or projected revenues, subsidy or allocation documentation, and your timeline. We come back within a few days with a preliminary read on pricing and whether the structure works. There is no charge for that first look.
We build our own model, test the credit calculation and eligible basis, review subsidy contracts and any agency approvals, and stress operating assumptions against comparables in the market.
You receive a letter stating price, pay-in, adjusters, guaranty expectations and the fund behind the investment, written to satisfy the threshold requirements of the allocating agency.
On award, we move to investment committee, issue a commitment, and negotiate the partnership agreement alongside your closing schedule.
Equity funds against the agreed installments. We stay with the property through construction, lease-up, credit delivery and the compliance period.
Plain explanations of how these programs work and where transactions succeed or fail. Written for developers, housing authorities and investors who want the mechanics rather than the marketing.
Affordable rents cannot support conventional debt. The credit converts a future tax benefit into present-day equity, and that equity is what closes the difference.
A fixed 4% floor changed the math on bond-financed transactions. Here is what the floor did, what the 50% test requires, and where deals still fall short.
Pricing is quoted in cents per dollar of credit, and it moves with investor yields, CRA demand and tax policy. A few cents changes your sources by real money.
Adaptive reuse can carry two federal credits at once. The combination is powerful and the basis interaction is where deals get into trouble.
Converting to project-based assistance is what makes a public housing property financeable. Tax credit equity is what makes the recapitalization possible.
Capital is the means. A stable home someone can afford, in a neighborhood they want to stay in, is the point.
For a complimentary preliminary analysis please reach out. We respond to all inquiries.
Prefer email? Write to us directly.
info@housingcreditpartners.com
78 SW 7th Street
Miami, FL 33130
Nothing on this site is an offer to sell or a solicitation of an offer to buy any security, or a commitment to invest. Tax credit program rules change; descriptions here are general and are not tax, legal or investment advice. Any transaction is subject to due diligence, investment committee approval, availability of capital and execution of definitive documents.