Genesis LA

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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 serves as in-house counsel for Genesis LA, she drafts and reviews transaction documents for the Genesis Community Investment Fund and works closely with outside counsel on New Market Tax Credit Program loans. She facilitates and monitors the closings of transactions and repayment of loans and oversees management and implementation of compliance systems.

Ms. Waybright brings a wealth of real estate knowledge to Genesis LA acquired as a Real Estate and Transactional Attorney for Spierer, Woodward, Corbalis & Goldberg. As an Associate for the firm, she drafted and negotiated terms of real estate and business transactions including documents related to residential and commercial purchase and sale agreements, lease agreements, escrow, title and loans, asset purchase and shareholder agreements. Ms. Waybright also worked for the law offices of Brian Lerner and the Los Angeles Unified School District’s Office of General Counsel.

Ms. Waybright has a Juris Doctor from the University of California, Hastings College of the Law where she was a member of the Hastings International and Comparative Law Review. She is admitted to the California Bar. Ms. Waybright holds a Bachelor of Arts degree from the University of California, Davis with majors in International Relations and Economics and a minor in Managerial Economics.