Michael Kressig is a partner in the St. Louis office of Novogradac & Company LLP, where he specializes in community development and affordable housing, including new markets tax credit (NMTC), low-income housing tax credit (LIHTC) and historic rehabilitation tax credit (HTC) transactions. He has more than 20 years of public accounting and business advisory experience. His consulting expertise includes forecasts and projections, deal structuring and related services. Mr. Kressig also works extensively with real estate partnership and compliance audits, advises clients on accounting, tax and regulatory issues, and is a frequent speaker at industry events. Before joining Novogradac & Company LLP, Mr. Kressig was partner in charge of Sabino & Company's assurance services group and directed the firm's real estate services practice group. Mr. Kressig also served as a senior manager with Deloitte LLP, where he specialized in financial industry audits as well as merger and acquisition consulting and due diligence. Mr. Kressig received a bachelor’s degree in business administration, majoring in accounting, from Rockhurst University. He is licensed in Missouri as a certified public accountant.

Jerome Breed focuses his practice on tax planning and the structuring of low-income housing tax credit (LIHTC), historic rehabilitation tax credit (HTC), new markets tax credit (NMTC) and renewable energy (RETC) transactions.

Mr. Breed has closed many LIHTC, HTC, NMTC and RETC that permit his clients to maximize tax benefits and investment returns, all within the framework of the client's business goals. He has substantial experience in the taxation of community development and new markets credit investments. Mr. Breed also has represented clients with respect to audits of tax credit investments.

Clients of Mr. Breed include syndicators and investors in LIHTC, HTC, NMTC and RETC transactions as well as developers of these credit projects. In the New Markets Tax Credits area, Mr. Breed represents the owners of qualified active low-income community businesses and community development entities. Mr. Breed also represents state housing authorities that allocate LIHTCs. Frequently, these federal credits include state credits and other federal, state and local subsidies.

Mr. Breed has given presentations at numerous seminars and conferences on the LIHTC, HTC, NMTC and RETC including presentations on partnership taxation, and real estate tax issues. He also is author of a number of articles on tax credits and other federal income tax matters.

John Panno is a senior vice president and member of Bank of America’s historic rehabilitation, new markets and renewable energy tax credits origination team. Mr. Panno joined Bank of America in December 2013. Prior to joining the Bank, Mr. Panno was a founding principal of NGP Capital LLC where he provided advisory services to corporations and real estate developers in structuring federal and state real estate tax credit transactions. In addition to his experience with NGP Capital, Mr. Panno is former tax counsel of The Sherwin-Williams Company where he was responsible for structuring and overseeing historic rehabilitation and low-income housing tax credit transactions resulting in more than $1 billion of real estate project construction, as well as coordinating state and local tax planning and litigation.   

Before joining Sherwin-Williams in 1996, Mr. Panno was a tax manager for Arthur Andersen in Chicago and was assistant tax counsel for The Chicago Bridge & Iron Company. Mr. Panno is licensed to practice law in Illinois and Pennsylvania.

Holly H. Heer is a partner in the Real Estate Department of Barnes & Thornburg LLP’s Columbus, Ohio, office. She represents developers, syndicators and financial institutions in partnership syndication and related transactions including entity formation, lending, asset management and workouts with a particular emphasis on transactions involving the low-income housing tax credit, historic tax credit and new markets tax credit.

Ms. Heer is a frequent speaker on issues relating to tax credit syndication, which includes tax structuring for credit-oriented transactions; technical tax issues related to credit syndication and compliance; partnership negotiation issues; exit strategies for syndicated investment vehicles; and layering various subsidy and tax credit programs with each other (including HUD programs such as HOPE VI; Replacement Housing Factor Funds; Section 202, 231, 221(d)(4) and 223(a)(7) Loans; Mark to Market Financing; and Interest Reduction Payment Decouplings).

She is a member of the Columbus Bar Association’s Real Property Section, the Ohio State Bar Association and the Forum on Affordable Housing & Community Development Law of the American Bar Association.

Ms. Heer is admitted to practice in front of the state courts of Ohio, U.S. Circuit Court of Appeals for the Sixth Circuit and U.S. District Court for the Southern District of Ohio.

She earned her J.D. from the University Of Virginia School Of Law, where she was a member of the Virginia Law Review. She received her bachelor’s degree from Wellesley College.