Partnering on Tax Credit Transactions: A Way to Keep the Deal Pipeline Full
By Caitlin Jones
1 min read
Partnering on Tax Credit Transactions: A Way to Keep the Deal Pipeline Full
By Caitlin Jones
0 min read
Tax Credit Advisor, August 2011: Partnering with another sponsor to develop an affordable rental housing project can be advantageous to a for-profit or nonprofit developer. So, too, can joint venture arrangements by for-profit developers with public housing authorities.
For Marlton, N.J.-based Michaels Development Company, which develops HOPE VI and low-income housing tax credit projects, partnering is the norm. According to President Bob Greer, Michaels partners with housing authorities on HOPE VI and “mixed-finance” projects, and with local nonprofit organizations on “stand alone” LIHTC projects.