Clayborn & Associates, LLC has extensive experience in the New Markets Tax Credit (NMTC) area. We currently serve as counsel for the community development entities (CDEs), and in that capacity have provided legal services in numerous transactions. As counsel for the CDE, we establish that the CDE is in compliance with the allocation agreement and with the NMTC requirements. We also prepare all of the documents required to establish that the Sub-CDE is duly authorized, validly existing, and in good standing with its state of formation, and we issue corresponding opinions. We review and provide comments on all source loan, bridge loan, if any, and leverage loan documents. Clayborn & Associates reviews and comments on the investment fund documents, issues due diligence requirements, and all QLICI loan documents.
Clayborn & Associates, LLC has served as counsel to qualified, active, low-income community businesses (QALICBs) that are the ultimate project borrowers in NMTC transactions. In this capacity we have worked with clients to establish the organizational structure for the transaction, formed the required entities, reviewed and revised financial models, and prepared and reviewed leverage loan documents and equity documents. Clayborn & Associates has experience with the development of projects utilizing both NMTC, historic credits, and other forms of funding.