Continued from page 48
Conclusion
Incorporating EB-5 financing to LIHTC projects for the
development of low-income housing rental projects facilitates
the construction and development of these projects, while
providing an incentive for private developers to make affordable
rental housing available. At a time when financing options for
construction projects remain limited, the use of EB-5 funding for
these real estate development projects already taking advantage of
tax credit programs could be the difference in making a project
viable. Also, as more states and municipalities see the advantages
of EB-5 to complement their traditional funding efforts, we
expect to see an increase in the number of public entities taking
advantage of this alternative financing source by creating their
own publicly owned regional center or partnering with existing
centers to provide EB-5 financing. In so doing, they are leveraging the investment dollars of foreign investors into important
projects for our municipalities and creating jobs.
Steven Polivy
★
Rogelio Carrasquillo
50
EB5 INVESTORS MAGAZINE
Steven Polivy is the chair of
the Economic Development
& Incentives Practice and
the New York office managing partner of Akerman
LLP. He represents Fortune
500 companies, financial institutions and investors on economic development, real estate finance, and transactional real estate matters. He
has helped move numerous large-scale real estate projects forward using alternative capital
sources such as the EB-5 program. He also regularly secures economic development benefits
from governmental agencies on a state and local
level for various clients.
Rogelio Carrasquillo is a
partner in the Corporate
Practice Group at
Akerman LLP in New
York. He advises domestic
and foreign companies,
multinationals and
entrepreneurs on business and investment
activities in the United States, Latin America