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
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