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Norman L. Jones

A relationship is at the core of every transaction. Smooth transactions build relationships.

Contact: P /612.604.6605E /[email protected]

Education

University of Minnesota Law School, J.D., cum laude, 1996

Hillsdale College, B.A., honors, magna cum laude, 1992

Bar Admissions

Minnesota

Iowa

My Approach

My core aim as a tax credit finance attorney is to find money to build infrastructure that makes our country a better place. In this work, I primarily advise capital providers in the renewables industries; some have been working these types of transactions for years, and others come to us with their first tax credit deal. Our team meets each client where their needs are; for first-time investors, we provide quick working guidance first, and then deepen their knowledge and capabilities over time.

I believe two things make transactions succeed: having the right team, and choosing the right transaction partners. I feel lucky to be a part of the Winthrop team, which includes some of the most talented, eager and goal-oriented professionals I have seen in tax credit financing. And over time we have developed deep relationships with a broad network of other professionals in the industry. The days I enjoy most are the ones where I can connect developers, lenders and investors and help them find the right fit.

Through 2024, our team has helped finance enough renewables for over 1,000,000 people.

A Groundbreaking Moment in My Career

Prior to 2008, my main focus was on developer side work. The financial turmoil in 2008-2009 created a vacuum in the tax equity market that was painful for many developers. There was a day when I decided the best way I could help was to create more certainty in the tax equity markets by helping more institutional investors enter and stay in the market and connecting them with good developers. That has been my focus ever since.

Practice Areas

Practicing Tax Credit Financing & Syndication

My Experience

I exclusively practice in renewable energy tax credits.  Having started this practice around 10 years ago, I now am surrounded by a team of a dozen renewable tax credit attorneys.  Our team closes approximately 150 renewable tax credit transactions per year, and my time is spent helping out on the more complex tax issues and closings, tax opinions, tax credit training, new strategic relationships, and new products.

Renewable Energy-related Credits

• We primarily represent capital providers (tax credit buyers, investors, and lenders).
• By volume, the primary credits we transact in are Sec. 45, 48, 45X, and 45Z (approx. $1B annually)

Representative Matters

In the past, my practice also included non-energy credits.  I don’t practice in these any longer but below gives an idea of what the first 20 years of my practice dealt with:

Historic Tax Credits:

• Supervised approximately 500 federal and state historic tax credit transactions.
• Investor counsel for multiple federal historic investors.
• Fund counsel for national and state credit funds, including in Virginia, Ohio, New York, North Carolina, South Carolina, Texas, Louisiana and Indiana.
• Represent several active historic bridge lenders, bridging state and federal historic equity
• Pioneered new state credit fund structures in response to the Virginia Historic state credit case.
• Guided investors through evolving legal landscape, including the Virginia Historic case, the Boardwalk case, the IRS HTC Safe Harbor, and Tax Reform.

Low Income Housing Tax Credits:

• Closed approximately 250 LIHC equity transactions as developer counsel.
• Responsible for approximately 600 LIHC debt transactions as lender counsel.

New Markets Tax Credits

• Closed approximately 90 NMTC financings as developer, lender, or investor counsel.

Also experienced in

Real Estate Development & Transactions

Renewable Energy Development & Construction

Honors & Awards

The Best Lawyers in America©

Real Estate Law, 2018-2026

Associations & Memberships

Minnesota State Bar Association

Taxation Section