A Recommended Structure for Federal HTC/NMTC
Tax Credit Investment and Loans
LEVERAGE LOAN
Sources:
Developer Equity
XYZ Bank Leverage Loan
HTC Bridge Loan
Leverage
Loan
New Markets
Equity
INVESTMENT FUND, LLC
NMTCs
Qualified
Equity
Investment
NMTCs
Credits and
Interest
Payments
SUBSIDIARY CDE
COMMUNITY DEVELOPMENT
ENTITY (CDE)
NMTC
Sub-Allocation
FEDERAL HTC INVESTOR
0.01% CDE
99.99% Investment Fund
QLICI Loans
DEVELOPER’S MANAGING
MEMBER
FEDERAL NMTC INVESTOR
100% owned NMTC Investor
QLICI Loan
Payments
HTC Equity
Master
Lease
DEVELOPER PARTNERSHIP
(LESSOR & QALICB)
80% Developer's Managing Member
20% Master Tenant Entity
HT Equity
Master Lease Payments
HTCs
MASTER TENANT PARTNERSHIP
1% owned by
Developer’s Managing Member
99% owned by HTC Investor

Continuation Sheet - Oregon Department of Transportation

Arm’s lengthな経済 と Non arm’s lengthな経済