MICHAEL J. GOLDMAN

Michael J. Goldman is a transactional lawyer who focuses his practice on structuring investments that produce federal and state tax benefits, with a strong emphasis on transactions generating New Markets Tax Credits, Energy Tax Credits (production and investment) and Grants in Lieu of Energy Tax Credits. 

Representative Transactions

Select recent engagements in which Michael provided tax structuring, legal, and commercial advice include the following transactions:

• Fund for the operation of 8.2MW of wind energy on various sites in California (represented the tax equity investor)
• Development of Federally Qualified Health Centers and other medical centers (multiple engagements, represented debt, tax credit equity, CDE, QALICBs)
• Multiple funds for the installation of solar photovoltaic facilities and solar thermal facilities in North Carolina (represented the federal tax equity investors)
• Loans for the construction of 2 power generation plants using biomass from logging residues, timber thinnings and urban wood waste (represented the lender)
• Construction of a middle school, inclusive of geothermal facility and solar photovoltaic facility in North Carolina (represented the developer)
• Loans for the construction a pre-commercial scale pilot plant to transform post-recycled municipal solid waste and other organic feedstocks into next generation renewable biofuels (represented the lender)
• A 9MW wind energy generating facility in Port of Corpus Christi, Texas, combining New Markets Tax Credits and Section 1603 grants (represented the tax equity investor)
• Charter schools in Washington, DC, New Jersey, and Pennsylvania using New Markets Tax Credits (various engagements representing lenders/CDEs)  
• Biomass power plant in Bakersfield, California, using New Markets Tax Credit financing for the conversion from a coal-fired power plant (represented the lender/CDE)  
• A 4.5MW fuel cell project in San Diego, California, the first fuel cell financing known to be closed with New Markets Tax Credits and Section 1603 grants (represented the tax equity investor)
• A wind energy generating facility, the Coastal Energy Project in Grayland, Washington, combining both New Markets Tax Credits and Section 1603 grants among its financing sources (represented the project company)
• New Markets Tax Credit financings of grocery stores, community centers, historic theatres, and charter schools, as well as workouts of New Markets Tax Credit financings (various representations)

Prior to joining Nixon Peabody, Michael was an attorney for the Internal Revenue Service, concentrating on tax shelters, the taxation of partnerships, subchapter S corporations and passive activity losses. In addition, he served as a clerk for Judge Michael B. Thornton, U.S. Tax Court and worked for Judge Dorothy Eisenberg, U.S. Bankruptcy Court (EDNY) and Judge Arthur D. Spatt, U.S. District Court (EDNY).

Michael is a frequent speaker at industry conferences regarding New Markets Tax Credits, Section 1603 grants-in-lieu-of-energy tax credits program and energy credits. While working for the IRS, he was the principal author of Revenue Ruling 2003-20, which provides the safe harbor for leveraging New Markets Tax Credit investments.

Recent Publications/Presentations

• “Tax Credits Primer,” New York City Economic Development Corporation’s Development Finance Conference, April 16, 2013. (Presenter)
• “Beyond Wind and Solar—Financing Energy Projects and Businesses,” Novogradac New Markets Tax Credit Investors conference, October 2012. (Panelist)
• “How to Deal with a Non-Performing Asset,” 11th Annual Reznick New Markets Tax Credit Summit, May 1, 2012. (Panelist)
• “What Keeps Potential Investors on the Sideline? Strategies to Execution and Optimization,” Conference on Maximizing Incentives from Renewable Generation: Best Practices and Financing Opportunities from Renewable Energy Tax Credits, The White House, March 13, 2012. (Panelist)
• “New Markets Tax Credits Primer,” New York City Economic Development Corporation’s 7th Annual New Markets Tax Credit conference: Unlocking New Markets, February 2012. (Presenter)
• “NMTCs + Energy Credits,” Novogradac New Markets Tax Credit Investors conference, October 2011. (Moderator)
• “Energy Credits,” Novogradac New Markets Tax Credit Investors conference, October 2011. (Panelist)
• “Innovative Financing for Small Renewable Energy Projects,” ACORE Retech conference, Washington, DC, September 2011. (Panelist)
• “Community wind projects may benefit from creative financing methods,” North American Windpower, August 30, 2011
• “Ask the Experts,” Novogradac New Markets Tax Credit conference, June 2011. (Panelist)
• “Is My Project Financeable?” SEIA PV America converence, Philadelphia, PA, April 2011. (Panelist)
• “Innovative Financing for Renewables & Energy Efficiency Incentives,” Green Matters conference: Green Cities, Business and Beyond, New Orleans, LA, October 2010. (Panelist)
• “Solar Tax Credits and Grants,” DC Bar Association meeting, April 2010. (Panelist)
• “IRS guidance on claiming a payment in lieu of investment tax credits for solar, fuel cells, wind, biomass, geothermal, and other facilities,” Nixon Peabody Renewable Energy Alert, co-authored with Forrest Milder, July 14, 2009
• “Update Regarding Grants Under ARRA Section 1603,” Nixon Peabody Renewable Energy Alert, co-authored with Forrest Milder and Herb Stevens, July 2, 2009
• “IRS guidance on claiming investment tax credits for wind, biomass, geothermal, and other PTC facilities,” Nixon Peabody Renewable Energy Alert, co-authored with Forrest Milder, June 8, 2009
• “Treasury Department progress on energy grant program,” Nixon Peabody Renewable Energy Alert, co-authored with Herb Stevens, May 22, 2009
• "Introduction to Renewable Energy Tax Credits," Novogradac Financing Renewable Energy conference, San Diego, CA, 2008. (Speaker)
• “Safe Harbor for Structuring Wind PTC Deals,” Nixon Peabody Renewable Energy Alert, co-authored with Forrest Milder, October 25, 2007
• “Treasury Issues Guidance Regarding Use of New Markets Tax Credit Program Investments in the GO Zone and ‘Targeted Populations,”’ CARH News, co-authored with David Kavanaugh and Gregory N. Doran, June/July 2006