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Management Services

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How Do I Stay Compliant Throughout the Lifecycle of a NMTC Project?

Receiving a New Markets Tax Credit (NMTC) allocation is a tremendous accomplishment for a Community Development Entity (CDE). But that is just the beginning of the journey. Some of the most challenging work to maintain that funding stems from its successful deployment. That is achieved through compliance and asset management, and meticulous accounting and bookkeeping.

The Tax Advantage Group (TAG) by Cherry Bekaert is one of the few firms in the industry to provide a full suite of NMTC Management Services. Our team of industry experts focus on the following:

Capital Deployment

The NMTC Application is the guiding document that allows a CDE to receive NMTC allocation. TAG supports the NMTC allocation process through a series of services. These activities include borrower application procedures, pipeline management, collection of due diligence documents, securing NMTC investors, developing CDE closing documents, and leading the CDE through successful transaction closings.

CDE Compliance and Asset Management

TAG utilizes a meticulous process to ensure all information is accurately maintained and recorded on time and in adherence to transaction documents and Treasury’s strict guidelines. Our team can provide compliance services to fund, CDEs, lenders, Qualified Active Community Low-Income Business (QALICB), borrowers and investors.

Servicing

TAG manages the billing and collection of debt service and fees as required per the transaction documents and directs and manages the transfer of funds between the transaction accounts.

Accounting and Bookkeeping

TAG provides accounting services such as bookkeeping and financial statement preparation and interacts with external accounting resources on all related tax and audit issues.

Policies and Procedures (P&P)

TAG creates or supplements a CDE’s P&P to ensure sound management practices throughout the lifecycle of a NMTC investment.

We’ve been involved with NMTCs from day one, and related types of project financing programs for decades. If you’re looking for the team that’s best positioned to help you navigate this landscape from start to finish, you’ve found it in TAG by Cherry Bekaert.

Learn more about our additional strategic financing capabilities:

Case Studies

  • Revitalizing a Mixed-Use Real Estate Development

    The Landing

    The Landing used the New Markets Tax Credit program to revitalize a mixed-use real estate development in downtown Fort Wayne, IN. NMTCs supported the historic restoration of seven buildings and one additional new construction building with apartments, commercial and retail space.

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    • NMTC Allocation: $12,000,000
    • 579 Direct Jobs Created
    • 14 Affordable Housing Units
  • Creating a Mixed-Use Medical Office Facility

    River District Tower

    The Dan River Research Building underwent a major renovation with the support of NMTCs, creating a mixed-use medical office facility in Danville, VA. River District Tower utilized NMTCs and additional sources of funding including Federal and State Historic Tax Credits, creating jobs, and providing the community to an array of health services.

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    • NMTC Allocation: $20,000,000
    • 130 Direct Jobs Created
  • Developing a Multi-Faceted Agribusiness

    Limehouse Produce

    Limehouse Produce developed a multi-faceted agribusiness project in North Charleston, SC. The Innovate Fund provided NMTC allocation to Limehouse produce. The project will provide residents with accessibility to jobs and an apprenticeship program. Limehouse Produce will also provide support to local food banks.

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    • NMTC Allocation: $9,000,000
    • 145 Direct Jobs
    • 70 Induced/Indirect Jobs

“TAG by Cherry Bekaert is one of the few firms in the industry to provide a full suite of NMTC Management Services to CDEs.” – Lisa Gibson, Director, TAG by Cherry Bekaert

Relevant Thought Leadership

New Markets Tax Credit Allocation Case Study for Upward Star Center

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New Markets Tax Credit Case Study for NEXT Innovation Center

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NMTC Case Study for Arris Manufacturing

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New Markets Tax Credit (NMTC) Program: How to Qualify

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New Markets Tax Credit (NMTC) Workshop for Businesses in the Carolinas

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Let's Talk

Lisa Gibson

Director, TAG by Cherry Bekaert

Let's Talk

Let's Talk

Laurel Tinsley

Managing Director, TAG by Cherry Bekaert

Let's Talk

Services

New Markets Tax Credits

Learn how our Tax Advisory services can help implement the New Markets Tax Credit for...

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Project Financing

Tax Advantage Group by Cherry Bekaert helps clients successfully navigate and secure financing for New...

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The Innovate Fund

Our lending affiliate, The Innovate Fund, transforms businesses and communities across Georgia, N. Carolina, S....

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Webinar: New Markets Tax Credit (NMTC) Program: How to Qualify

Brochures and Announcements

TAG Services Overview

From finding lenders to writing applications for NMTC funding to providing back-office support like compliance,...

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Optimizing Alternative Capital Sources

Listen to our podcast “Part 5: Optimizing Alternative Capital Sources” as we discuss capital formation,...

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Laurel Tinsley Brings Strategic Experience to Tax Advantage Group by Cherry Bekaert

Tax Advantage Group by Cherry Bekaert (“TAG”), a practice that specializes in New Markets Tax...

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Scott Scheffy Joins TAG by Cherry Bekaert to Expand Offerings to Southeast U.S.

TAG by Cherry Bekaert, a practice specializing in the New Markets Tax (“NMTC”) Credit, Historic...

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New Markets Tax Credits for Private Investment Funds and Family Offices

Find out more about New Markets Tax Credits for private investment funds and family offices...

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