Diane Binnick,Diane L. Binnick is the principal of The Binnick Group, a boutique consulting firm founded in 2009 which specializes in providing NMTC program advice to emerging CDEs, and new and established awardees under the New Markets Tax Credit (“NMTC”) program administered jointly by the Community Development Financial Institutions Fund (“CDFI Fund”) and the Internal Revenue Service. Ms. Binnick has wide-ranging experience with the NMTC program, including the specialized regulatory work associated with CDE certifications, Allocation Agreement opinions and NMTC program compliance. Ms. Binnick has worked directly with 26% of the more than 900 Allocatees who have received NMTC allocation awards since the Program’s inception.
Ms. Binnick has experience preparing NMTC Allocation Applications, sourcing allocation for QALICBs, deploying allocation for CDEs and providing compliance services. Ms. Binnick has managed the writing and submission of seven award-winning NMTC applications for clients participating in the 2010, 2013, 2014, 2015-16, 2017, 2018 and 2020 program years – awards totaling $406 million in the aggregate. Further, Ms. Binnick assisted the 2010 awardee with capital raising, deployment and loan underwriting in order to successfully place its $18 million allocation in two projects located in severely distressed census tracts. The 2010 awardee also relied on Ms. Binnick to manage the program compliance associated with the award. Additionally, Ms. Binnick entered into a consulting engagement with a four-time NMTC awardee during which she designed and implemented a NMTC compliance program.
Prior to starting her own firm, Ms. Binnick spent five years at a national law firm working in the NMTC practice group. Before that she spent 13 years as Executive Director of a community-based non-profit where she was responsible for all facets of its Low-Income Housing Tax Credit program, managing in excess of $32 million in assets. During Ms. Binnick's tenure, the corporation engaged in cutting-edge development projects which won numerous awards for their impact on the communities in which she worked. The projects typically involved the use of multiple funding sources including tax exempt bond financing, historic rehabilitation tax credits, housing tax credits and various state credits. Ms. Binnick skillfully navigated the complex interaction of multiple factors during the development period and established a strong track record of building and sustaining the relationships required to get deals financed.
Ms. Binnick received her B.S. degree from Temple University and an MBA from Rensselaer Polytechnic Institute.
“The Binnick Group understands and has first-hand experience with all of the myriad components that are fundamental to a successful NMTC outcome. TBG’s strong industry relationships, particularly with the Community Development Financial Institutions Fund (“CDFI Fund”), have proven invaluable in helping UACD deploy its allocation timely.”
Joe Summers,
Urban Action Community
Development/Cross
Street Partners
“The Binnick Group’s experience, professionalism, tenacity and strong industry relationships are a few of the key reasons we seek to continue our long-standing relationship with The Binnick Group.”
Bill Seddon,
St. Louis Development
Corporation
“Thanks for your help on getting the CDEs set up so quickly!”
—Client
San Francisco, CA
“BTW, we ended up closing a deal in 2008, so it was incredibly useful to get our allocation agmt finalized by year end. Thanks.”
—Client Portland, OR
“You have really done an amazing job with all of our new markets clients. You have given our practice a level of expertise and professional service that has been above and beyond all expectations”
—Herbert F. Stevens
Nixon Peabody LLP
“Enjoy your holidays and thank you again for shepherding this through the process so quickly.”
—Client Harrisburg, PA
“Thanks for your continued high level of professional cooperation and assistance with this matter.”
—Client Missoula, MT
