Forum Journal (Spring 2013): NTCIC Projects Harness the Power of the Federal Historic Tax Credit

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This slide show is enhanced content for the John Leith-Tetrault article "Tax Credit's Really Do Add Up" in the Spring 2013 issue of Forum Journal (The Rehab Tax Credit-Turbo-Charged!). To learn more about Preservation Leadership Forum and how you can become a member visit: http://www.preservationnation.org/forum

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Forum Journal (Spring 2013): NTCIC Projects Harness the Power of the Federal Historic Tax Credit

  1. 1. Enhanced Content: Slideshow“Tax CreditsReally Do Add Up”by JohnLeith-Tetrault
  2. 2. Healing Center, New Orleans, LA (2010): Before$2.5 million federal HTC, $2.9 million federal NMTC, $2.4 million Louisiana NMTCDeveloper: Pres Kabacoff Total Development Cost: $13.2 million
  3. 3. Healing Center, New Orleans, LA (2010): AfterNow used as a community center, this project created 103 construction jobs and 112 permanentjobs (215 total).Developer: Pres Kabacoff Total Development Cost: $13.2 million
  4. 4. NSO Bell Building, Detroit, MI (2011-2012): Before$6.32 million federal HTC, $1.35 million Michigan HTC, $17.6 million LIHTCDeveloper: Neighborhood Service Organization (NSO) Total Development Cost: $37 million
  5. 5. NSO Bell Building, Detroit, MI (2011-2012): AfterNow used as housing and support services for formerly homeless adults and as headquarters ofNSO. This project created 232 construction jobs and 299 permanent jobs (591 total).Developer: Neighborhood Service Organization (NSO) Total Development Cost: $37 million
  6. 6. Wake Forest BioTech Place, Winston-Salem, NC (2012): Before$18.6 million federal HTC, $17.7 million North Carolina State Mill Credit, federal NMTCDeveloper: Wexford Science and Technology Total Development Cost: $103 million
  7. 7. Wake Forest BioTech Place, Winston-Salem, NC (2012): AfterNow used as a biotechnology research laboratory with offices and retail ,this project created 623construction jobs, 733 permanent (1,356 total).Developer: Wexford Science and Technology Total Development Cost: $103 million
  8. 8. Mayo 420, Tulsa, OK (2009): Before$6.6 million federal HTC, $4.1 million Oklahoma HTC, federal NMTCDeveloper: Wiggin Properties, LLC Total Development Cost: $32 million
  9. 9. Mayo 420, Tulsa, OK (2009): AfterMayo 420 was rehabilitated for office space ,retail ,and a new YMCA facility, creating 308construction jobs, 75 permanent (383 total).Developer: Wiggin Properties, LLC Total Development Cost: $32 million
  10. 10. Cleveland Institute of Art (CIA) McCullough Center, Cleveland, OH (2010): Before$6 million federal HTC, $4 million Ohio HTC, federal NMTCSponsor/Developer: Cleveland Institute of Art; The Ferchill Group Total Development Cost: $47.5 million
  11. 11. Cleveland Institute of Art (CIA) McCulloughCenter, Cleveland, OH (2010): AfterNow used as an academic facility, this projectcreated 369 construction jobs and 200permanent positions (569 total).Sponsor/Developer: Cleveland Institute of Art; The Ferchill GroupTotal Development Cost: $47.5 million
  12. 12. Tennessee Theatre, Knoxville, TN (2005): Before$5.6 million federal HTC, federal NMTCDeveloper: Historic Tennessee Theatre Foundation Total Development Cost: $29.3 million
  13. 13. Tennessee Theatre, Knoxville, TN (2005): AfterThis former movie theatre has been rehabilitated into a performing arts center creating 285construction jobs and 16 permanent jobs (301 total).Developer: Historic Tennessee Theatre Foundation Total Development Cost: $29.3 million
  14. 14. REA Building, Sacramento, CA (2005): Before$1.6 million federal HTCDeveloper: REA Partners Total Development Cost: $10.3 million
  15. 15. REA Building, Sacramento, CA (2005): AfterREA Building is a former post office and mail sorting facility now used for retail and office space. Thisproject created 57 construction jobs, 87 permanent (144 total).Developer: REA Partners Total Development Cost: $10.3 million
  16. 16. Old Salem Jail, Salem, MA (2009): Before$2.3 million federal HTC, $1.6 million Massachusetts HTCDeveloper: New Boston Ventures, LLC Total Development Cost: $11.5 million
  17. 17. Old Salem Jail, Salem, MA (2009): AfterNow a residential facility with restaurant and museum exhibit space, the Old Salem Jail projectcreated 64 construction jobs and 75 permanent positions (139 total).Developer: New Boston Ventures, LLC Total Development Cost: $11.5 million
  18. 18. Dia: Beacon, Beacon, NY (2003): Before$5.2 million federal HTC, federal NMTCDeveloper: Dia Center for the Arts Total Development Cost: $33.7 million
  19. 19. Dia: Beacon, Beacon, NY (2003): AfterThis former factory has been rehabilitated into an art museum creating 15 construction and 44permanent jobs (59 total).Developer: Dia Center for the Arts Total Development Cost: $33.7 million
  20. 20. CASA de Maryland, Langley Park, MD (2009): Before$1 million federal HTC, $1.2 million Maryland HTC, federal NMTCDeveloper: CASA de Maryland Total Development Cost: $13.7 million
  21. 21. CASA de Maryland, Langley Park, MD (2009): AfterNow used as a multicultural center for CASA de Maryland, this project created 90 construction jobsand 121 permanent positions (211 total).Developer: CASA de Maryland Total Development Cost: $13.7 million
  22. 22. American Brewery, Baltimore, MD (2008): Before$3.9 million federal HTC, federal NMTCDeveloper: Humanim, Inc. Total Development Cost: $24 million
  23. 23. American Brewery, Baltimore, MD (2008): AfterThe American Brewery Building is now office and program space for a nonprofit social and humanservices provider, creating 157 new construction jobs and 175 permanent jobs (332 total).Developer: Humanim, Inc. Total Development Cost: $24 million
  24. 24. www.PreservationNation.org/Forum

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