The Federal Historic Rehabilitation Tax Credit (HTC) allows building owners or third-party investors to receive a credit against Federal income taxes for the rehabilitation of qualifying historic properties. A 20% credit is available for the substantial rehabilitation of commercial, industrial or residential buildings that are certified as historic. The HTC totals 20% of the “qualified rehabilitation expenses” of the project and is claimed over a five-year compliance period. Many states also have a similar state HTC program where both federal and state HTCs can be used together to increase the total subsidy for a project. Our $150 million of HTC experience ranges from small residential projects to large multi-faceted mixed-use projects including facilitating the Crosstown Concourse transaction, noted as one of the largest HTC transactions completed in Tennessee. Leveraging its HTC experience, Solaris provides pre-development, structuring, and closing execution service for real estate projects that qualify for HTCs.

• Review of historic qualification/status
• Assessment of project viability and historic predevelopment benchmarks
• Provision of technical expertise related to financial structuring and benefit analysis
• Structuring and underwriting HTC investments
• Sourcing and securing non-tax credit equity and debt
• Negotiating and closing investments into HTC projects, including oversight and management of all transaction aspects: legal, accounting, due diligence, funds flow and closing calls
• Solaris excels in its extreme attention to detail, efficiency, and execution resulting in a proven track record of successful closings

• Transaction identification, origination, and due diligence
• Structuring and underwriting HTC transaction investments
• Negotiating and closing of HTC investments, including oversight and management of all legal and accounting aspects
• Coordinating the financial reporting, accounting, and tax requirements for investment
• Oversight of project’s ongoing Programmatic Compliance