Rachel Ittner


Rachel Ittner

Commitment to Clients and Communities

In the world of real estate law, there’s a unique charm to community development. It’s about seeing the direct results—like driving past a new development or being there at its opening and recognizing the good it does for the community. The tight-knit field of New Markets Tax Credit (NMTC) law centers on unity and collaboration. Each project fosters a collegial atmosphere, with everyone pitching in to spark positive change in underserved neighborhoods. There’s a genuine camaraderie, where our shared mission is to champion transformative projects in underserved areas.

Outside of the office, my heart is set on supporting our animal and wildlife community. I take an active role on the Cosley Zoo Foundation Board, volunteer at a local animal shelter, and together with Maya, our certified therapy dog, we make meaningful visits to schools and senior homes.

Career Overview

Current Focus: While I primarily focus on NMTC work (predominantly community development entities (CDEs), source lenders, and tax credit investors), I also represent community development financial institutions (CDFIs) clients in lending transactions involving Capital Magnet Funds, charter schools, and housing. Additionally, I guide CDE clients through the regulatory facets of the NMTC program, including ongoing compliance issues, CDE certification, allocation applications, and allocation agreements.

Prior to pivoting to community development, I practiced in the commercial real estate industry, representing institutional lenders and major developers.


  • Represented a group of CDFI lenders in a two-phase project involving source and direct financing with Capital Magnet Funds, Historic Tax Credits, and NMTCs for the rehabilitation of a historic automotive plant into a mixed-used development in Detroit, Michigan.
  • Represented a CDE providing allocation for the acquisition and renovation of six grocery store properties in food-insecure areas of Chicago, also involving city grant funds and third-party financing.
  • Represented source lender and CDE providing allocation to joint LIHTC-NMTC condominium project providing mixed-use commercial space, childcare, and residential units in Cambridge, Massachusetts.
  • Represented tax credit investor and CDE in FQHC project for the construction of a new 70,000 square foot clinic in Houston, TX using multiple source loans and County grant funds.

Professional Affiliations

  • American Bar Association
    • Member, Forum on Affordable Housing and Community Development Law
    • Member, Section of Real Property, Trust and Estate Law
  • Member, New Markets Tax Credit Coalition


We select A&TT for representation because of the high quality work output and strong advocacy skills possessed by their team. As a mission-based organization, we also value the emphasis placed on social responsibility by A&TT. Rachel worked alongside our staff to close four significant tax credit transactions within a highly compressed time frame. Her diligence, quick wit and positive energy kept us motivated! Rachel is relationship-driven–a successful model which has led to better collaboration on our deals.


Our attorneys have a passion for helping our clients reclaim and re-invigorate neighborhoods and cities. We represent developers, tax credit syndicators, investors, tax-exempt community development organizations and public housing authorities. They trust us to get the job done–please come talk with us to learn why you should too.

Let’s Work Together