Nathan Bernard is a partner focusing in the areas of the low-income housing (LIHTC) and new markets (NMTC) tax credits.
What do you focus on?
I work with investors and syndicators to apply LIHTCs to help finance the development of affordable housing for working families across the country. I have also structured complex transactions with multiple layers of funding for certain targeted populations such as the elderly and the disabled.
I also work with investors and community development entities in the NMTC field, helping to finance the construction or rehabilitation of hospitals, factories and schools using financing from the sale of NMTCs. These projects help bring jobs and economic growth to historically underserved areas.
Having worked extensively with several different tax credit areas, I have been involved in structuring complex transactions using several sources of financing, including HOME loans, HUD financing and tax-exempt bonds. Sometimes, transactions combine multiple tax credits, such as the recent renovation of a historic hotel in Milwaukee, Wisconsin, that involved state and federal LIHTC and historic rehabilitation (HTC) tax credits. Another transaction combined solar credit and NMTC financing to place solar panels on the roofs of low-income housing developments. These innovative structures cause me to constantly think “outside the box” on the best way to serve clients.
Working with clients at all levels has given me the ability to see a broader picture of the growing trends in our industry and better understand the impact tax incentive financing can have on our communities.
What do you see on the horizon?
I see a lot of opportunity in how public/private partnerships will continue to expand to provide develop and revitalize communities. As demand for tax incentive financing increases, our industry will continue to find new and innovative structures to meet this demand.