historic tax credit consulting

our well-rounded approach

Our multi-faceted approach is unique. Many historic consultants are disconnected from the complications and costs of construction and the complexities of project financing.

We combine experience with historic buildings, on-the-ground construction, and project financing to ensure not only that your building qualifies for Historic Tax Credits, but that it makes sense to pursue the credit, that your project financing plan aligns with the Program, and that your systems are structured to oversee the project from pre-development to close out.

historic project guidance & due diligence

you are considering a Historic Tax Credit project in St. Louis. do you know where to start?

Just because a building is old does not mean it is immediately eligible for Missouri or NPS Historic Tax Credits. And, if it is eligible, it does not mean it immediately makes sense to utilize the Historic Tax Credit.

We can assist with:

  • Historic designation

  • Scope of work for historic compliance

  • Overall project feasibility

  • Project financing and capital stack analysis

  • Historic tax credit investor solicitation

  • Preparing project pro-formas specific to HTC projects

historic tax credit applications

you’re ready to go. do you need support along the way?

We can prepare and submit Part 1 and Part 2 applications, including:

  • Preparing project narratives, scopes of work, and photographic documentation

  • Coordination with project architect to ensure project scope aligns with project plans

  • Proactive materials selection to align with project goals and the Secretary of Interior’s Standards.

  • Structuring your paperwork and bookkeeping from day 1 to align with final cost certification.

historic tax credit oversight

you’ve broken ground… are you sure your team is following historic standards?

Following the Secretary of the Interior’s Standards for Historic Preservation is as much an art as it is a science. We can provide oversight and guidance throughout the course of the project, including:

-Regular site visits to observe alignment with the Part 2 scope of work and the Secretary’s Standards

-Guidance on materials selection, sourcing, and installation

historic tax credit closeout

the project is done. now how do I get my credits?

We can assist you with:

-Part 3 application

-Final cost certification, including compiling documentation and coordinating with the project accountant

strategic real estate consulting

Housing and Portfolio Analysis and Strategy

We provide a knowledgeable, objective review of an organization’s real estate strategy and portfolio performance.

Nonprofit organizations grow and adapt to the evolving needs they see in their communities. Sometimes, a shift in organizational strategy calls for a new approach to real estate and housing ownership.

The first question any nonprofit leader must ask—whether they are looking to acquire their first property or operate a 500-unit portfolio—is:

Does real estate ownership contribute to, or detract from, our mission?

We analyze the organization’s objectives, the current portfolio, and future real estate goals to assess:

  • We see the profound importance of housing for our clients, but does it make sense to enter the housing space?

  • Can we meet the same objectives by leasing space or partnering with housing providers, or does ownership provide additional value?

  • Our organization has changed. should our real estate strategy change with it?

  • Do we have the financial capacity to manage month-to-month expenses?

  • Will we need to fundraise to meet expenses? If so, do we have the relationships in place to secure those funds?

  • Are the necessary changes minor adjustments or major interventions? Do we have the staff capacity to make these changes? If not, can we afford to add staff or engage third-party support?

  • Do we need to reposition, consolidate, or refinance? Can we tap into equity for capital improvements or other uses?

  • Does the size of our portfolio align with our mission?

  • Do we need to right-size our portfolio? What disposition strategies make sense? Which properties should we sell?

  • Does real estate ownership contribute to, or detract from, our mission?

Our Experience

Lucas Delort has a decade of experience in historic tax credits, real estate project management, real estate finance, and asset management. Prior to founding and growing Lintel and Cornice Development and Construction as a boutique historic rehabilitation company, Lucas worked at nonprofit organizations managing development projects utilizing Low-Income Housing Tax Credits, Historic Tax Credits, Community Development Block Grants, HOME funds, the Affordable Housing Trust Fund, HUD programs, and New Markets Tax Credits. He has helped build nonprofit rental portfolios, launch a property management program, and develop youth jobs programs. Lucas also worked at an investment firm, asset managing more than $100 million in real estate investments.

As both a staff and board member, Lucas has contributed to the growth and restructuring of nonprofit organizations with an eye toward efficient operations, long-term cash flow, strategic fundraising, and ensuring that cost centers support the organization’s mission. In addition to his focus on real estate development, Lucas has extensive knowledge of housing policy, homeless services and Housing First, and the broader nonprofit community in the region.

Lucas is a licensed real estate agent in Missouri, license #2023034385