Cherrytree Group Blog

Reflecting on 2018

[fa icon="calendar'] Jan 7, 2019 11:38:35 AM / by Warren Kirshenbaum posted in OZ, o zone, tax reform, state tax credits, federal, ITC, opportunity zones, family office, Event, warren kirshenbaum, melina ambrosino, Tax planning, Brownfields, environmental tax credit, tax credit, Tax credits, Low Income Housing Tax Credit (LIHTC), Federal Tax Credit, Renewable Energy, Passive Income, Historic Rehabilitation Tax Credit

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After purchasing our own historic building at 287 Auburn Street, Newton, Massachusetts in late September of 2017, we were anxious to begin rehabilitation of the building and move into our new home.

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Opportunity Zones: By the Numbers

[fa icon="calendar'] Nov 14, 2018 10:16:09 AM / by Warren Kirshenbaum posted in opportunity zones, tax credit, Low Income Housing Tax Credit (LIHTC), Federal Tax Credit, state tax credits, o zone, OZ, tax reform

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In December, 2017, the Tax Cuts and Jobs Act of 2017, established Opportunity Zones by way of a provision of the Internal Revenue Code i.e Section 140OZ-2 (the "OZ Rules"). Pursuant to the OZ Rules, Treasury directed the individual states to designate certain census tracts as Opportunity Zones.

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Twinning of Tax Credits

[fa icon="calendar'] Apr 1, 2015 12:30:00 PM / by Warren Kirshenbaum posted in Historic Rehabilitation Tax Credit, federal tax credits, Federal Tax Credit, Low Income Housing Tax Credit (LIHTC)

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Historical buildings lend themselves very well to multifamily residential use.  


When performing an adaptive reuse of a historic building, in addition to the possibility of utilizing historic tax credits (HTC's), if a certain number of the residential units are designated as affordable there may be a possibility to secure low-income housing tax credits (LIHTC's).  In such a project, there will need to be a twinning of the two different types of tax credits, and successful completion of the project will hinge on the attention needed to be paid to the structuring of the transaction, the coordination between the requirements of each program, as well as the specific protections needed by the tax equity provider(s) and/or the lender(s).

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