Helping Clients Navigate
Tax Credit Financings
Specializing in Historic and New Markets
Tax Credits can be a powerful financial resource for both for-profit and nonprofit entities undertaking rehabilitations or new construction. Qualifying Projects may benefit from additional funding through both State and Federal Tax Credit programs.
Plymouth Soundings, LLC specializes in Historic and New Markets Tax Credit financings and related overall project management. Personalized services extend beyond just Tax Credit financing to initial project assessment and planning, through construction, operations compliance, and final investor exit. Most Project Teams pursuing a “once in a lifetime” tax credit project will need an outside resource to help them understand the challenges of Tax Credit Financings and decide whether to pursue new funds via the Tax Credit Program.
Darlene Smolik (Dee) leads the Financing process and complements each client’s inhouse capabilities, providing the needed information while addressing specific project needs and opportunities and finding resolutions. Plymouth Soundings coordinates Financing, Investment, Tax, Legal and Client project teams to accomplish a successful and timely conclusion. Dee’s first-hand knowledge, proven results, CPA Certification, operations experience, industry relationships and $900MM of completed development projects make Plymouth Soundings unique in the industry.
Dee Smolik has successfully completed HTC and NMTC projects representing a total investment of over $900MM, with projects ranging from $5 Million to $90 Million. She has built the crucial relationships needed with the Investment, Banking, Legal and Accounting communities. Her 17 years of Tax Credit experience is complemented by 35 Years accounting, construction, project management, business, and financial management experience in both public and private environments.
Why Choose Plymouth Soundings LLC
Dee Smolik, Principal of Plymouth Soundings LLC (PSL), becomes an integral part of the Client’s team working with the Client from the very beginning of the project planning process to assess. This involves understanding the team’s expertise and capability in order to determine the specific skills and experience required to access Tax Credit funding and successfully complete the process.
PSL’s involvement complements and maximizes the Client’s efficient and effective use of its team, and resources.
Tax Credit Consultant Types and Services
Standard Tax Credit Consultants "Typically":
- Focuses on the Actual Financing
- Coordinates with Investor
- Often Requires the Owner to Provide Input
- Fairly Limited "PrePackaged" Services
- Can Be Fixed Fee or "Brokerage" % of Investors' Pay In
Specialized Tax Credits Coordination and Compliance Services
(Plymouth Soundings' Niche)
- Customizes services to Clients’ Needs
- Also provide “typical” Investor Financing Services
- Can provide guidance/services from Project Inception through Compliance Period and Investor Exit
- “Pay As You Go” Minor Retainer and monthly billings for services; costs depend directly upon assistance needed. Needs can always be redefined
- Over $900MM of Projects in Public and Private Sector with multiple forms of financing.
Tax Credits Financing
A successful project that maximizes the Tax Credit potential begins at project inception when Clients consider pursuing funding through Tax Credit programs.
Plymouth Soundings’ services range from educating Clients and their stakeholders to the Tax Credit programs, clarifying requirements for changes in protocols for accounting and cash flow practices and entity structure, project tracking, reporting, operations transition, and project Wind Down challenges.
Dee’s close working relationship with the Client, first-hand knowledge and experience in all aspects of the process, and proven results are what make Plymouth Soundings’ value add different and far broader than most Tax Credit Financing consultants.
Summary of Services
Tax Credit Financing ideally commences at Project Inception. PSL’s involvement during the initial phase of the project is vital to the Client and to the success of the Project.
The Financing process is intense requiring multiple reports analysis and interaction with required Tax, Legal and Accounting teams, Investors, Banks, Client Counsel and the Client.
PSL’s managing and tracking of construction costs, budget reconcillations, cash flows, loan draws and required reporting as well as guidance on special accounting required in tax credit financings have proven to be invaluable to Clients.
PSL oversees the transition of the project from construction to the compliance and operations periods, develops protocols, and assists with the Audit and Tax Return process.
Your extensive contact with the major players on the regulatory as well as corporate side of the federal programs keeps all parties talking the same language and provides a single point of contact for questions.
Our transactions would NOT have been completed had we not enjoyed your guidance at all levels. Two-tier funding, Portions of Business, the accounting requirements prior to, during and subsequent to closing, the handling of in-kind, and the deal structure required to generate the credits
We have worked with Darlene and her team for almost 20 years bringing complex historic and New Market projects to completion. Dee gets the details right every time!
Mixed Use Facility
Grundy Town Center
Mixed Use Facility
The Cotton Mill
Questions? Get Answers Here!
Contact Dee Smolik directly to schedule your Complimentary Consultation!