How long does it take to complete a NMTC project?
• Generally speaking, from the time an allocatee commits to providing the allocation, the legal, banking and accounting process to complete the documents can take approximately 8-10 weeks. In addition, backing up from the commitment date of the allocatee, it can very well take 5-7 months to get a project ready for applying to the allocatee for an allocation. However, due to the complexity of the transactions and the specific circumstances of each individual project, it would be best to seek the advice of a NMTC professional. • Because of complexity of putting together a NMTC transaction, it is advisable to start considering a transaction and engaging the appropriate advice and guidance nine months before the project’s construction is expected to start.
