Smith NMTC Associates, LLC has structured and facilitated dozens of transactions nationwide by utilizing more than $500 million in New Markets Tax Credits (NMTC) and other financing tools. Our work is designed to benefit low-income communities by expanding affordable homeownership opportunity and economic revitalization through financing models that meet the needs of our clients.
We provide a wide range of New Markets Tax Credit services and other project-specific consulting to advance real estate developments that include affordable for-sale housing, early childhood centers, credit unions, commercial buildings, and community centers.
Smith NMTC has worked with nonprofits throughout the country to develop and fund community service facilities that have enriched low-income communities and empowered their residents. Often, we use New Market Tax Credits as part of the capital stack. We assist with accessing credits, sourcing investors and other funding, structuring transactions, facilitating closings, and managing post-closing compliance and accounting during the 7-year compliance period. Smith NMTC Associates staff include accountants, MBAs, and attorneys to help nonprofits navigate complex transactions and funding.
Some of the community service facilities transactions Smith has facilitated include:
Sherwood Forest Camp
St. Louis Community Credit Union
Urban League Empowerment Center
Smith NMTC believes in the power of homeownership to change the personal fortunes and futures of American families and to restore long-term economic equity to our communities. Working with multiple nonprofit affordable homeownership developers throughout the country, we have helped to create thousands of homeowner families. Research shows that in addition to generating wealth for families, homeownership leads to better educational outcomes for homeowners' children, more disposable income that is reinvested in local businesses, and a sense of pride in home and neighborhood that lifts the community as well. Homeownership benefits distressed communities by adding to the tax base, raising market rates, providing housing for local employees, beautifying neighborhoods, and sustaining those efforts with committed, engaged and proud homeowners.
Our affordable homeownership projects include:
Atlanta Neighborhood Development Partnership
The Housing Channel
St. Louis Habitat for Humanity
Smith NMTC collaborates with CDEs in multiple ways. Our team is skilled in preparing and writing CDE Certification and NMTC Allocation Applications; structuring and facilitating transactions if allocation is received; guaranteeing the recapture risk for nonprofit CDEs while managing ongoing compliance; and managing all compliance, accounting and regulatory risk and reports for the CDEs. Smith NMTC provides invaluable expertise in sourcing and structuring transactions, and in liaising with the QALICBs and related parties to ensure successful closings, compliance and exits. Our project experience includes twinning state and historic tax credits with NMTCs.
Our CDE consulting projects include:
Habitat for Humanity International
Housing Partnership Network
Community Housing Capital