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Capabilities / Development Incentives & Tax Credits

Development Incentives & Tax Credits

Boosting redevelopment.

Husch Blackwell guides developers in accessing federal, state and local incentives to help fund commercially and culturally significant projects, including office buildings and parks, industrial developments, mall and shopping center redevelopment, mixed-use development, and hotels, among others. Our early and ongoing leadership in the complex field of development incentives translates into a wealth of experience that benefits clients throughout our firm’s geographic footprint. 

Our guidance to clients on development incentives includes:

  • Brownfield tax credits 
  • Community improvement districts (CID)
  • Historic tax credits (HTC)
  • Low income housing tax credits (LIHTC)
  • New Markets Tax Credits (NMTC)
  • Opportunity Zones
  • Tax abatement
  • Tax increment financing (TIF)
  • Transportation development districts (TDD)

Our team is particularly adept at identifying multiple incentives for eligible projects, as well as providing comprehensive legal advice regarding the debt and equity components of a project’s capital stack. Clients rely on our team’s can-do approach and creative lawyering to overcome obstacles and get projects to the finish line.

Husch Blackwell has been involved with New Markets Tax Credits (NMTC) since the first allocations were made in the early 2000s. In fact, Husch Blackwell was involved in the first three NMTC transactions to close in Missouri.

Since then, we have represented community development entities (CDEs), lenders, investors, and not-for-profit and for-profit developers and businesses in NMTC transactions. Our lawyers have worked on structured NMTC transactions involving equity investments and loans, leveraged and non-leveraged transactions, and transactions combining other state and federal tax credits, local grants, TIFs and tax-exempt bond financing.

Representative Experience:

  • Represented developer in a five-building historic restoration project in downtown St. Louis that included the first use of NMTC in Missouri. Our representation included acquisitions, securing other public and private financing sources and capitalization of four new businesses in these buildings.
  • Represented client in a comprehensive 165-acre redevelopment project near St. Louis that required $16 million in NMTC, the closing of a $14 million Chapter 100 tax abatement bond issuance and Chapter 353 real property tax abatement. Because our client began its redevelopment after the unsuccessful development attempts of the previous owner, our efforts for the client also included rezoning and replatting the property, unwinding the previous public financing incentives, and negotiating and obtaining city approval.
  • Advised developer in the restoration and redevelopment of the St. Louis Union Station, which included securing $5 million in NMTC, tax abatement and a sales tax rebate agreement with the city of St. Louis. 
  • Represented Koman Group in obtaining NMTC and Historic Tax Credits for redevelopment of the historic Cupples 9 building in St. Louis, turning it into office and retail/restaurant space. We assisted our client with obtaining NMTCs and Historic Tax Credits for the project, which was later awarded LEED Silver certification and recognized as one of St. Louis’ “Developments of the Year.” 
  • Counseled developer in securing significant federal, state and local incentives, including NMTC, in a $106 million multiphase project involving the acquisition, demolition and rehabilitation of a vacant mall in North St. Louis.
  • Represented joint venture client in the rehabilitation of a 17-story downtown St. Louis building into a mix of retail space, affordable housing and parking. A variety of public and private sources of financing were accessed, including NMTC, federal and state Historic Tax Credits, federal and state Low-Income Housing Tax Credits, TIF, CID and multiple tranches of private debt and equity capital.
  • Advised developer and investor in rehabilitation of mixed-use building in St. Louis’ Loft District using $20 million NMTC allocation. The project also developed two new businesses, each of which utilized $10 million in Missouri NMTC allocations.
  • Assisted property owner in acquisition and rehabilitation of a building to retain and renovate downtown department store, financed with $12.5 million federal NMTC allocation and $10 million Missouri NMTC allocation.
  • Represented CDE and investor in $11 million federal NMTC allocation used to finance the construction of a new headquarters facility for a lighting company.
  • Advised CDE and investor on $8 million Missouri NMTC allocation for expansion of paper supply company.
  • Advised CDE on a $10 million NMTC allocation for the equipping of retail grocery’s new distribution facility in Missouri. 
  • Represented CDE on an $8.5 million NMTC allocation for the construction of new manufacturing, distribution and storage facilities in Illinois. 
  • Counseled investor in the $164 million rehabilitation of a historic building into retail, hotel and loft apartments using state and federal NMTC.
  • Represented bookstore in $5 million federal NMTC allocation to open downtown location.
  • Advised grain operator on $10 million Illinois NMTC allocation for new loading facility.
  • Represented investor and lender in $12 million federal NMTC allocation for redevelopment of downtown office tower.
  • Represented not-for-profit as leverage lender and tenant in $12 million federal NMTC allocation for development of headquarters building.

TDDs are special-purpose taxing districts formed to finance improvements in municipal infrastructure, primarily roads and other thoroughfares. Missouri was one of the first states to enact TDD legislation.

Our work on behalf of developers in structuring and negotiating TDDs is extensive. Husch Blackwell created some of the first TDDs in the region, primarily in St. Louis and Kansas City, and has since created two dozen more in Missouri. Our TDD work includes large projects such as streetcars and trolleys and market-dominant mixed-use projects, as well as projects for hotels, restaurants and residential housing.

Representative Experience:

  • Represented the city of Kansas City in the financing and governance of a $101 million, 2.2-mile downtown starter streetcar line, as well as a $514 million, 7.5-mile expansion. Successfully established the Kansas City Downtown Streetcar TDD through a judicial process (including appeals by opponents) and requisite districtwide elections. 
  • Represented the Loop Trolley Transportation Development District, the first cross-jurisdictional TDD in St. Louis, in successful implementation and passage of the TDD. Successfully lobbied for an earlier TIF to assist in the initial funding.
  • Represented retail developer in the creation and passage of a development plan that included TDD, CID and Chapter 353 tax abatement incentives for a St. Louis mixed-use project.
  • Advised developer in acquiring a 350,000-square-foot shopping center in north St. Louis, including creation of a TDD and a TIF to help fund the development. 
  • Represented developer in the negotiation and creation of a TDD for a significant retail project in Manchester, Missouri, situated along a major thoroughfare.
  • Represented hotel developer/management company in formation of a TDD for a hotel that included a conference center and restaurant in downtown St. Joseph, Missouri.

Other experience includes the Country Club Plaza TDD in Kansas City and the City Hospital Laundry, Broadway Hotel, Fenton Crossing, Arnold Triangle, Railway Exchange Building and Cheshire Hotel TDDs in St. Louis.

News Releases | September 10, 2019
Husch Blackwell's Scott and Eckelkamp Named 2019 Up & Coming Lawyers

The annual Up & Coming awards “celebrate outstanding legal professionals who are 40 or younger or who are within their first 10 years of practice.

News Releases | January 25, 2019
Derek Taylor Elected to NAIOP Wisconsin Board of Directors

Derek Taylor has been elected to a three-year term on the Board of NAIOP Wisconsin.

Media Mentions | November 28, 2018
REJournals: The legal loopholes of Opportunity Zones
Media Mentions | October 22, 2018
St. Louis Business Journal: Looking to lower capital gains? Good news, St. Louis lawyers say (log-in required)

Jonathan Giokas and Joe Bredehoft of the firm's Opportunity Zones team weigh in.on new Treasury Department and IRS rules governing how capital gains can be deployed to defer and reduce taxes.

Media Mentions | October 10, 2018
The Missouri Bar: MoveMakers & NewsMakers 10/12/18

The Missouri Bar covers the firm's Opportunity Zones practice.

News Releases | October 4, 2018
New Husch Blackwell Practice Group Focuses on Opportunity Zones

New practice group brings a multidisciplinary approach to assisting clients who wish to invest in the federal Opportunity Zones program.

Media Mentions | September 12, 2018
Wisconsin Law Journal Names Eisenmann and Vercauteren to 2018 ‘Up and Coming' List

Erik Eisenmann and Jeff Vercauteren represent Husch Blackwell on a list recognizing the rising stars of Wisconsin’s legal community.

Media Mentions | March 19, 2018
Springfield Business Journal 2018 40 Under 40: Lindsey Lund

Lindsey Lund talks about her career trajectory and her work as a transactional real estate attorney.

Testimonials Gary Matthews, President, EM Properties

“The $92.8 million transformation of the Hotel Pere Marquette with the first-ever Illinois state historic tax credit wouldn't be possible without Husch Blackwell's expertise and guidance.”

Read how invested partnerships make a difference
Testimonials Chambers USA

“The practice has a deep bench, advising leading developers and investors on a comprehensive range of high-profile projects. Regularly sought after for its expertise in matters pertaining to tax increment incentives and tax-abated investment projects.”

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Testimonials Chambers USA 2018

“The lawyers are more than just advisors, they are partners in achieving our goals. They are always extremely knowledgeable and exceptionally effective.”

Read how invested partnerships make a difference
Testimonials Chambers USA 2019

"The team is noted for its work on the financing and operation of sports facilities, as well as the full range of issues affecting mixed-use developments and clients in the railroad, healthcare and hospitality sectors."

Read how invested partnerships make a difference
Client Results

Transportation district is established to impose taxes for streetcars.

See full case study