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Tax Credit Investment

 Wachovia’s Tax Credit Investment group was one of the first and continues to be one of few offering developers and communities full-service lending and equity investments in affordable multi-family rental housing properties and commercial properties with federal historic rehabilitation tax credits.

Our program provides developers and communities with turnkey, integrated financing packages for tax-credit qualified properties. We provide construction and bridge financing, coordinate permanent financings on these properties through institutional placements and securitizations, invest equity as a limited partner in low-income housing and historic rehabilitation tax credit properties, and manage portfolios of equity investments through the life of the tax credits.

Low-Income Housing Tax Credits:

• Annual tax credit allocation of $250,000 or more 
• No geographic or building type restriction
• New construction and substantial rehabs
• 1.15 DSC requirement (1.2 for rehabs)
• Permanent loan rate locked at closing
• Up to 85 to 90%of equity available during construction
• Replacement reserves at $200 per unit per annum ($250 per unit -rehab)

Historical rehabilitation state tax credits are dependent on Wachovia tax position for any given state and current appetite.

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