The term sheet is where investors outline the principal terms and conditions of their investment in a tax credit transaction. When evaluating a term sheet, it's important for developers to look at a variety of factors and not just tax credit equity pricing. In today's podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Boccia, CPA, share how developers can pursue an optimal balance between tax for equity pricing and other key factors. While the focus of the podcast is historic tax credits and the role of the term sheet, the principles discussed are applicable to all types of developments seeking to raise tax credit equity.