what we do
No matter what stage of development, EHCP can play a role in your project.
development
Development has many stages prior to closing a project. EHCP can help at each stage.
In early development, a team is being assembled for your project. Through its relationships, EHCP can provide introductions to accountants, attorneys, historic consultants, architects, physical needs assessment contractors, construction contractors, federal investors, lenders, and entities providing third party reporting.
Once the team is assembled, EHCP will work with your tax and legal counsel to determine if EHCP fits in your structure. Because of EHCP’s flexibility, we can generally accommodate the structure your tax and legal counsel determine is best for your project. EHCP will provide a Letter of Intent that reflects the structure of your project including:
+ Investing at a percentage interest that works best for your structure
+ Working with certificated and allocated SHTC
+ Working with the developer’s counsel to accommodate the accounting treatment of our investment
+ Working with projects that include other tax credits (e.g. FHTC, LIHTC, NMTC, Brownfield Greyfield) and financing (e.g. TIF, Grants, PACE)
+ Working to accommodate structures designed to comply with IRS rulings.
+ Being your partner through compliance
the closing process
The closing process can be arduous and EHCP prides itself on being the easiest part.
Because of our relationships, it is likely the team will be familiar with EHCP which simplifies our admission to the project. EHCP will:
+ Draft an initial Operating Agreement for your review
+ Work with the team on all closing documents
+ Work with the lender on any documents related to the collateralization of our equity
+ Draft a Put and Call agreement
+ Provide support and the knowledge of our experience throughout the closing process
+ Make its initial capital contribution at close
Construction + operations
From construction through operations, EHCP will:
+ Monitor its investment and the progress of the project by communicating with our partners and analyzing project reporting
+ Work closely with our partners ensuring that our additional equity installments are contributed according to the project documents
+ Support our partners as they manage the project from construction through operations
What we do is guided by our core values
Act with integrity
“Enhanced is not just an investor in our projects, but a critical partner in our success. After our very first conversations, we knew we had made the right choice. The Enhanced team is tenacious and diligent and we’re grateful for the integrity, communication, and the hard working ability from each team member.”
– Mary Gronen - Owner, Gronen Restoration
Foster Relationships
“I’ve worked with the Enhanced team on several projects and the way they simplify complicated financial transactions is unparalleled in the industry. The entire process through and after closing was seamless. I look forward to continuing to work with Enhanced on all of my future historic projects."
– Michael Hamburg - Owner, Pier Property Group
Flexibility + Practicality
“We’ve partnered with EHCP on three state historic transactions and each time this component has been the easiest part of the capital stack to structure by a wide margin. The EHCP principals are involved in the entire life of the transaction and have a practical approach to solving issues that arise whether on the front or back end of deals. I highly recommend EHCP for developers/owners looking for a state historic tax credit investment partner.”
– Rob Stolpestad - President & CFO, Exeter Realty Company
Project Focused
“Anytime you do a historic tax credit project that also incorporates TIF and New Market Tax Credits to get the deal done, you need a partner who understands the challenges. I was fortunate to work with EHCP who helped in every way possible to bring my project over the finish line and I am so appreciative!”
– Judy Hatfield – Founding Principle, Equity Commercial Realty II, LLC
Preservation
“I have worked with EHCP since their inception in 2002. Over the past 19 years we have successfully partnered with EHCP on over 75 historic redevelopment projects spanning 5 states. Throughout our relationship, I have seen EHCP’s commitment to historic tax credits as a tool to revitalize communities in their support of state and federal programs.”
– Peter T. Noonan - Senior Vice President, Founder and Manager, Commerce Bank, Tax Credit Services
Evolve and adapt
“We’ve worked with EHCP for over 15 years and completed numerous mutual state tax credit transactions with them. EHCP is on top of the cutting edge issues relative to tax credit transactions and always takes the steps necessary to mitigate risk and improve efficiency. They’re an invaluable resource for us.”
– Art Weiss - President, Lisart Capital