Genesis LA

New Markets Tax Credit (NMTC)

Since 2005, Genesis LA has received and deployed New Markets Tax Credit (NMTC) allocation in the form of loans to community and economic development projects. The NMTC allocation is awarded by the U.S. Department of the Treasury’s CDFI Fund. Our NMTC investments are made to real estate projects located in low-income census tracts in Los Angeles County. The NMTC program is a leveraged finance structure, where the tax credit investment generally provides roughly 25% of the capital necessary to finance a project and the remaining 75% comes from leverage sources (banks, developer equity, public sources, etc.). Through this structure, NMTC financing ensures that new capital is delivered to low-income communities and that community and economic development projects can move forward.

Jessica Waybright

General Counsel

Jessica Waybright joined Genesis LA in 2008 and serves as General Counsel. She reviews loan due diligence, assists with loan structuring, and both drafts and reviews loan documents. She also oversees program compliance with government and private institutions.

Prior to joining Genesis LA, Ms. Waybright worked as a Real Estate and Transactional Attorney for Spierer, Woodward, Cobalis & Goldberg, where she drafted and negotiated terms of both real estate and business transactions.

Ms. Waybright earned a Bachelor of Arts in International Relations and Economics from the University of California, Davis and earned her Juris Doctor from the University of California, Hastings College of Law. She is admitted to the California Bar.