We are the premier counsel in the State of New Jersey in matters involving tax credits issued under the New Jersey Economic Opportunity Act, including the Grow New Jersey Assistance (GrowNJ) and Economic Redevelopment Growth Grant (ERG) programs, as well as tax credits issued under the federal Low Income Housing Tax Credit and the Solar Investment Tax Credit (ITC) programs.

With respect to GrowNJ and ERG projects, we advise clients on every step of the process with the New Jersey Economic Development Authority and assist in preparing the approval application and addressing project specific concerns with respect to the interpretation and application of this complex area of the law. We have obtained hundreds of millions of dollars for our clients through these and other economic development incentive programs.  However, our representation does not end there. By working across practice groups including Construction, Real Estate, Land Use and Zoning, and Public Finance, we are helping our clients redefine the landscape of New Jersey. 

We represent buyers and sellers with the transfer of tax credits. We also represent tax credit lenders in preparing loan documents secured by tax credits for projects throughout New Jersey.  These unique loans required coordination across various lenders to adequately protect and secure our client's interests.

With respect to Solar Investment Tax Credits, we prepare power purchase agreements and assist clients with the transfer of tax credits generated by such projects. 

Notable Matters

• We represented a developer in connection with the development of student housing for a regional medical school using ERG funds
• We have negotiated renewable energy power purchase agreements involving Solar Investment Tax Credits with both private and public sector clients, including large capacity systems interconnecting to the PJM grid.
• We have facilitated Low Income Housing Tax Credit Financing for numerous projects including coordination with syndication investors, local and county governments, and private lenders resulting in the development of hundreds of affordable units in New Jersey.
• We have negotiated complex, long-term tax credit purchase and sale agreements for national companies looking to acquire credits to offset various business taxes resulting in substantial savings, including a ten (10) year tax credit purchase agreement valued at over $13 Million.
• We represented a tax credit lender providing short-term financing secured by GrowNJ tax credits, including the preparation of loan funding agreements and security documents.

Experience