Frank A. Hoffman is a partner in Ice Miller’s Business Group. He represents business and non-profit clients, specifically in managing complex incentive and project finance transactions.

Frank often serves his for-profit and non-profit clients as general outside legal counsel. He concentrates his practice in innovative and complex federal, state and local economic development incentive procurement and related project financing for closely-held businesses and non-profit organizations.

Frank has over 30 years of general tax, finance and securities law experience with a focus on real estate development (affordable housing, student housing, single-family and commercial); business relocations and expansions resulting in new capital investment, job creation and workforce training initiatives; business mergers, acquisitions and location closures resulting in job retention and re-investment; expanded research and development investment; and energy efficiency and renewable energy project investment.
Selected Experience
  • Closed over 15 New Markets Tax Credit financing transactions that resulted in over $100M in NMTC equity and funded over $430M in total project costs since 2005
  • Structured and closed two of the Top 100 New Markets Tax Credit financing transactions (Marion – Winterfield & Indianapolis – Hoosier Gasket) selected by the National New Market Tax Credit Coalition from over $30,000,000,000 in transactions closed during the first 10 years (2002-2012) of the federal New Markets financing program
  • NMTC financing transactions closed include transactions in Virginia ($65M), Louisiana ($112M) and Kentucky ($42M)
  • Closed four (4) Community Revitalization Enhancement District (CRED) Tax Credit equity financing transactions that resulted in over $16M in CRED Tax Credit equity and funded over $96M in total project costs since 2005
  • Combined Indiana CRED Credit, Local TIF Bond and NMTC to fund $5.5 million start-up manufacturing plant (Marion, Indiana)
  • Combined local TIF Bond and NMTC to fund $20 million hotel/indoor waterpark facility (French Lick, Indiana)
  • Created the New Markets Tax Credit program for the Indiana Bankers Association and its 180 member banks - 2004, $50 million allocation
  • Assisted in the creation of the New Markets Tax Credit program for the city of Fort Wayne – 2008, $15 million allocation
  • Assisted in the creation of the New Markets Tax Credit Program for the town of French Lick and seventeen (17) participating southern Indiana counties – 2009, $50 million allocation
  • Assisted in the creation of the New Markets Tax Credit Program for the city of Indianapolis – 2010, $32 million allocation
  • Obtained over $28 million in ARRA economic development incentives and $53 million in permanent financing for Indiana start-up wind turbine component part manufacturers since February 2009
  • Closed over $500M in Low-Income Housing and Historic Tax Credit transactions
  • Obtained 100% property tax exemption for Section 42 for-profit partnership
  • Structured the first and only $2.4 million Low-Income Housing Tax Credit equity transaction for Section 42 partnership funded with $6+ million of Hope VI funds
  • Converted for-profit affordable housing management company to a non-profit in Indiana
  • Obtained court-ordered discharge of $2+ million in property taxes for affordable housing property in bankruptcy
  • Low-Income Housing Tax Credit/Historic Tax Credit experience - in-house general counsel/executive vice president for real estate private placement securities firm (Landmark Corporation) (1985-1991)
  • Low-Income Housing Tax Credit Investor's limited partner counsel - Great Lakes Capital (f/k/a: Indiana Capital Fund for Housing) (Syndicator), National City Community Development Association, Key Community Development Corporation, Terre Haute First National Bank, and Indiana National Bank (1991 to present)
  • Low-income housing tax credit lender's counsel – Chase (f/ka/Bank One Indiana, N.A.), Fifth Third Bank - Indiana, Star Financial (1991 to present)
  • Low Income Housing Tax Credit general partner's counsel - Pedcor Investments and the Indiana Equity Fund, Inc., an affiliate of the Indiana Housing and Community Development Authority
  • Non-profit advisor - Chairman/Vice Chairman, Indianapolis Housing Agency (1996-1999)
  • Tax advisor - PriceWaterhouseCoopers (f/k/a Coopers & Lybrand) (1982-1985); Oxford Development Corporation, Anacomp R&D Partnerships
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