The National Trust Community Investment Corporation (NTCIC) makes equity investments in real estate projects that qualify for federal and state Historic, Low-Income Housing (LIHTC) and New Markets (NMTC) Tax Credits. NTCIC works with a wide variety of property owners including for-profit developers, nonprofit organizations and local governments. Its focus is on projects that have a high economic impact on the surrounding community.
Since its inception in 2000, NTCIC has placed more than $575 million of equity and debt towards more than 85 properties with total development costs over $2 billion. NTCIC pioneered the “twinning” of historic tax credits and New Markets Tax Credits (NMTC’s) in 2003, was the first “Community Development Entity” (CDE) to sign a NMTC allocation agreement, and the first to report a Qualified Equity Investment to the CDFI Fund of the US Treasury. It has closed more twinned transactions than any other NMTC allocatee. In addition to providing additional NMTC equity to projects through its own allocation, NTCIC helps developers find NMTC allocations through its National Trust New Markets Brokering Service.
NTCIC is the historic tax credit industry’s leading advocate for improving and expanding the use of federal and state historic tax credits. NTCIC’s President, John Leith-Tetrault, is the Chair of the Historic Tax Credit Coalition. He also sits on the boards of the National New Markets Tax Credit Coalition, the Novogradac & Co. New Markets Working Group and the National Housing & Rehabilitation Association‘s New Markets Steering Committee.
The National Trust Community Investment Corporation’s primary investment partners have been Bank of America, US Bank, Chevron, Nationwide Insurance and Morgan Stanley. NTCIC is a wholly owned for-profit subsidiary of the National Trust for Historic Preservation, the leading nonprofit advocate for historic preservation in the United States. On an annual basis, NTCIC declares dividends to support the National Trust’s many preservation-based community development programs including the National Trust Main Street Center.
NTCIC’s acquisition staff have expertise in a range of syndication legal structures, including single-entity, master-tenant and New Markets leveraged transactions, and bring in-depth experience closing deals with for-profit, nonprofit, and public sector developers. As pioneers in twinning the New Markets Tax Credit and historic tax credit, NTCIC accounting and asset management staff are uniquely qualified to manage performance and compliance of all federal and state Historic, LIHTC and New Markets Tax Credit projects.
Our Board of Directors
NTCIC’s Board of Directors provides NTCIC with governance that emphasizes the maintenance of a responsive, for-profit culture, a customer-driven investment approval process, and the availability of a set of products that meets the needs of the historic and New Markets Tax Credit developer. Because NTCIC is a certified Community Development Entity, the Board is also structured to assure a high level of accountability to low-income communities. Board members have a mix of business and professional backgrounds that include for-profit and nonprofit real estate development, historic tax credit syndication, real estate law, venture capital, commercial and community development loan underwriting, nonprofit management and historic preservation.