Helping Client’s Navigate

Tax Credit Financings

Specializing in Historic and New Markets

Tax Credits

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 (Plymouth Soundings or PSL) specializes in Historic and New Markets Tax Credit financings and related overall project management. Personalized services extend beyond Tax Credit financing to include initial project assessment and planning, cost management, construction, operations, compliance reporting, and 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 guide them through the process.

Darlene (Dee) Smolik leads the financing process and complements each Client’s inhouse capabilities, providing the needed information while addressing specific project needs, opportunities, and problem 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 and industry relationships make Plymouth Soundings unique in the industry.

Dee Smolik has successfully completed Historic Tax Credit and New Markets Tax Credit projects ranging from $5 Million to $90 Million. 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 with over $900MM of completed development projects using a variety of funding sources.

TN Theatre Marquee - rehab tax credits

Why Choose Plymouth Soundings LLC

 

Tax Credit Consultant Types and Services

 

Standard Tax Credit Consultants "Typically":

 

 

  • Focus on the actual financing.
  • Coordinate with investor.
  • Often require the owner to provide input.
  • Can be fixed fee or "Brokerage" % of investors' pay-in.

Plymouth Soundings Specialized Tax Credit Coordination and Compliance Services

 

  • Customizes services to Clients’ needs.
  • Provides “typical” investor financing services.
  • 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

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, cash flow practices and entity structure, providing project tracking, reporting, operations transition, and project wind down guidance.

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 added different and far broader than most Tax Credit Financing consultants.

Summary of Services

Planning & Design

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.

 

Financing Process

The financing process is intense requiring multiple reports, financial analysis and interaction with required tax, legal and accounting teams, investors, banks, client counsel and the Client.

Construction Period

Manage and track construction costs, budget reconcillations, cash flows, loan draws, unique accounting procedures and problem solving have proven to be invaluable to Clients.

Operations Compliance

Oversees the transition from construction to the compliance and operations periods.  New accounting and reporting procedures are implemented and monitored.

 

Investor Exit - Wind Down

Coordinates the wind down process and assists teams with planning, implementation and coordination of the exit process for the Client and for Investors and CDE(s) (if NMTCs).

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.

Clemens Center

Success Stories

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 after closing, the handling of in-kind, and the deal structure required to generate the credits.

ArtsQuest

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!

Philip Morris

Proctors, theRep, and UPH Testimonial

Completed Projects

Mixed Use Facility

Grundy Town Center

Mixed Use Facility

The Cotton Mill