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Legislative push is on to save Minnesota’s historic tax credit before it expires

Tom Hanson was quoted by the Duluth News Tribune about Minnesota’s legislative push to save the state’s historic tax credit before it expires.

“There really isn’t anybody at this point advocating against it. The challenge is fighting your way to the top of the heap. But we’ve got a good coalition,” said Hanson, pointing out that other worthy bills are also competing for lawmakers’ attention.

Read the full article here.

 

Bills would extend historic tax credit

Tom Hanson spoke with Finance & Commerce about the strong bipartisan support in the Minnesota Legislature in the efforts to extend the Historic Tax Credit. The Historic Tax Credit is set to expire in June, but given its effectiveness, there has been a push from developers, contractors, community partners and others to extend the tax credit another 5 years or to make the tax credit a permanent fixture in the state’s tax code.

“Not only do we have broad bipartisan support, but we have labor and industry support as well,” Tom said. “It’s not always easy to get labor and business together on the same issues, but we have strong support, which is positive.”

Why ‘blank check’ companies are all the rage

Attorney Phil Colton was quoted by the StarTribune for an article about “Why ‘blank check’ companies are all the rage.” The article dives into the recent boom of special purpose acquisition companies, usually called SPACs or blank check companies. Specifically, Phil shared that “he isn’t convinced the appeal of SPACs is about avoiding the regulatory oversight of traditional IPOs.” When it comes down to it, the question to ask is, “does the deal make sense”?

Read the full article here.

Winthrop & Weinstine’s first female president draws on council experience in pursuing projects

Firm President Tami Diehm was interviewed by the StarTribune to discuss what it means to her to serve as Winthrop & Weinstine’s first female president. She explained that promoting diversity and inclusion in the workplace, and promoting women within the legal profession are important factors for her. Tami sees individuality and diversity as one of the firm’s assets, and as the firm grows, she “embrace[s] the fact that [Winthrop & Weinstine has] a lot of different people with different backgrounds.”

Tami also talked with the StarTribune about how her experience on the Columbia Heights City Council prepared her to counsel clients with projects requiring multiple layers of approvals, such as Medtronic’s Cardiac Rhythm and Heart Failure Management campus in Mounds View.

“We work hard in representing our clients and we’re extremely creative when it comes to working through complex issues,” says Tami.

Read the full article here.

Maximizing your LIHTC deal: LOIs and partnership agreements

Tax Credit Financing & Syndication attorney Jon Peterson was featured on Baker Tilly’s podcast series BuzzHouse to discuss hot topics around LIHTC deals, with a special focus on components of equity LOIs and partnership agreements. On the episode, “Maximizing your LIHTC deal: LOIs and partnership agreements,” Jon shares what he is seeing in special allocations in LIHTC deals and trends with bond deals.

Listen here to learn how owners in Year 15 exits can negotiate LPA disclosures to address some of the exit issues that are coming up in new deals, opportunities to negotiate the upward adjuster in case of a fixed 4% credit rate, as well as some key things to think about while in negotiation with your limited partnership agreements.

Breaking the Ice: Virus, recession drive demand for bankruptcy bar

Creditors’ Remedies, Bankruptcy & Work-out attorney Cynthia Hegarty was profiled in Minnesota Lawyer‘s Breaking The Ice feature. In the article, Cynthia discusses how the pandemic and its economic fallout are driving greater demand for her specialty in bankruptcy work.

“It’s a big challenge because there’s no foreseeable resolution,” Hegarty said, referring to the increase in bankruptcy proceedings involving retail businesses and restaurants.

Click here to read the full article.

Appeals court ruling in Petters case may upend effort to return millions to victims

Appellate attorney Tom Boyd was quoted by the StarTribune in an article discussing the precedent-setting 8th U.S. Circuit Court of Appeals’ Sept. 14 reversal on behalf of his clients, one of many “claw back” suits brought in connection with the Petters’ bankruptcy liquidation.

“The trustee himself recognized that our clients acted in good faith,” said Tom. “There is no evidence they were ever part of any fraud, any dishonesty or any wrongdoing.”

To read the full article, click here.

Breaking the Ice: Purpose drives ‘Outstanding New Lawyer’

Litigation attorney Kyle Kroll was profiled in Minnesota Lawyer‘s Breaking the Ice feature, following on the heels of being named Outstanding New Lawyer of the Year by the Minnesota State Bar Association’s New Lawyers Section. In the interview, Kyle discussed what drew him to the profession of law, his favorite aspects of being an attorney, and the value of a direct writing style.

To read the full interview, click here.