John Cornell represents investors, syndicators, developers and lenders in transactions involving federal and state tax credits and other incentives.
Currently, my practice focuses on the three main areas below. I’m passionate about tax credit investing and am a frequent speaker at industry conferences.
I focus in fund formation and securities law for clients in the tax credit area. Most recently my team successfully completed a $150,000,000 institutional tax equity fund for a national sponsor of low-income housing tax credit investments. I represent many fund sponsors in negotiating warehouse and bridge credit facilities, in secondary market transactions and in general corporate matters. I took a leading role in developing the industry’s position on the Dodd-Frank financial reforms.
I have extensive experience in transactions involving the historic rehabilitation tax credit. My team recently represented a bank investor in the rehabilitation of a historic mill building in Buffalo, New York, which is being converted to 87 loft-style apartments. We are also representing a national hotel chain in the historic rehabilitation of a 21-story office building in Philadelphia, Pennsylvania, which is being converted to a 150-room full-service hotel. Many of my HTC deals are combined with new markets tax credits and state tax credits.
I also focus on representing developers and investors in renewable energy transactions. Our team successfully represented a developer in a series of utility scale solar PV installations sited on capped landfills just recently. I am also working on an innovative clean energy fund family for solar and fuel cell investments.
We have been following tax reform initiatives as well as the new IRS guidance on historic rehabilitation tax credit transactions. We are developing strategies to help clients deal with the new guidance and I will be co-chairing an industry conference to explore these issues.