Scott D. Sergio

My focus

I have a wide range of experience in the area of community development finance.

New Markets Tax Credits (NMTCs)

I represent investors, developers, community development entities, and leverage lenders in the structuring, closing, and unwinding of community development projects utilizing both federal and state NMTCs across the country. Representative transactions include grocery stores, theaters, museums, hotels, medical complexes, and commercial/retail office complexes.

Historic Rehabilitation Tax Credits (HTCs)

I represent investors, developers, and bridge lenders in the structuring and closing of historic rehabilitation projects across the country. Representative transactions include hospitals, charter and public schools, and the conversion of former industrial facilities into large-scale, mixed-use residential and commercial complexes.

Looking ahead

I see more focus on using commercial and residential development as a tool to measure community impact and using the capital markets to achieve a broader scope of community impact than ever before.

In both the HTC and the NMTC areas, more and more projects are leveraging as many sources of financing as possible in order to maximize the benefit that tax credits can provide. This includes state and local funds (both debt and grant dollars), third-party commercial financing, and “stacking” multiple credit programs through the NMTC funnel. We’re helping our clients identify those non-traditional sources and navigate the various statutory, business, and legal requirements that must be balanced in order for all the sources to work together for the underlying project.

Insights

• “United Artists Building Case Study,” IPED’s Historic Tax Credit Summit, Washington, DC, June 16, 2022