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Updated over 3 years ago,

User Stats

11
Posts
3
Votes
Kyle O'Connor
  • Investor
  • Chicago, IL
3
Votes |
11
Posts

Help w/Historic Income Tax Credits and other incentives

Kyle O'Connor
  • Investor
  • Chicago, IL
Posted

ISO- Anyone with experience factoring or securitizing future incentives including lump sum Historic grants, Local Sales tax rebates and Federal Income tax credits

Abbreviated Background - I am redeveloping a historic property. We have owned the property since 2017, have building permits approved at the local, state and federal levels. Due to the historic status of the building the project is considerably more expensive than initially expected and we have struggled to find a bank that will lend on the project even under the SBA 7a and 504 loan programs. Total financing capital need is $3m. We have $1m in incentives from the local and federal levels, but they are in the form of tax credits and historic renovation grants that do not come in until after the project is completed and/or up to 10 years later. I am looking for a way to securitize OR "Factor" these future cashflows OR any other creative way to monetize these incentives during construction. 

Reward - Reasonable compensation and dinner on me in NOLA during #BPCON2021 

* This is a complex deal and I am looking for guidance on options. If you have experience with anything like this DM me and I can provide significantly more information.