Gregory Doran is the leader of the firm’s Community Development Finance practice and one of the nation’s leading authorities on community development finance. He helps investors, lenders and borrowers employ federal and state tax incentives to promote development in underserved markets. Greg primarily works with federal and state new markets tax credit (NMTC) and historic preservation programs. He learned his craft working in the IRS Office of Chief Counsel, where he helped develop the NMTC program and provided guidance on low-income housing tax credit issues to the IRS and the LIHTC industry.
I’m in close contact with IRS and Treasury Department officials and an active participant in industry coalitions, promoting these programs on Capitol Hill and developing new guidance on program improvements. I also serve on the Executive Committee of the Partnership for Job Creation, a leading advocacy group for the new markets tax credit industry.
From the CDFI Fund’s Bond Guaranty Program, to social impact loans/investments (including Opportunity Zone investments) to federal and state new markets tax credit and historic preservation projects, I represent a wide variety of investors, lenders (including CDEs and CDFIs) and project sponsors to bring new capital into underserved communities. The projects I work on include educational facilities, hospitals and health clinics, large-scale mixed-use developments, affordable housing, community facilities, historic theaters and manufacturing facilities.
As a regular speaker at national tax credit and community development conferences, I’ve had the opportunity to get to know the business leaders in the tax credit industries, as well as help to educate and introduce newcomers to the benefits of these federal and state programs. Facilitating connections between industry participants has been a valuable tool in promoting our programs, getting important projects underway and ultimately bringing more jobs and improved goods and services to our local communities.
The sustainability of today’s community development programs and the creation of successful programs in the future are dependent on greater public-private partnerships. I’m working with clients to introduce them to other programs and to explore ways to layer new subsidies in traditional tax credit transactions.