According to the recently released "Historic Rehabilitation Tax Credit Recapture Survey," very low rates of recapture in Historic tax credit (HTC) transactions have been experienced. The report was commissioned by the National Trust for Historic Preservation and produced by Novogradac and Company LLP.
HRV is proud to announce that it has been recognized by the Novogradac Community Development Foundation (NCDF) for its vision and outstanding contributions in the field of community development. Jazz @ Walter Circle was named as an Honorable Mention in the Metro QLICI of the Year category and serves as a sterling example of how community prosperity can be achieved and strengthened through the New Markets Tax Credit program.
A new era for an iconic Fayetteville property began after the last of the weekend guests checked out of the Cosmopolitan Hotel on Nov. 13. Their exit allowed work to begin on a massive makeover of the 15-story project at 70 N. East Ave. With a $7.1 million building permit in hand, new owners are transforming the 30-year-old high-rise into The Chancellor.
The U.S. Department of the Treasury's Community Development Financial Institutions Fund released data collected on projects financed in low-income communities across the nation through 2010. The CDFI Fund requires all Community Development Entities awarded New Markets Tax Credit allocations to submit an annual report detailing how they invested Qualified Equity Investment proceeds in low-income communities.
The once-grand former headquarters of the Studebaker Corp. automobile empire is being stripped down to its original walls and floors, in preparation for future reuse.
The New Markets Tax Credit Extension Act of 2011 was introduced on July 26, 2011 by Pennsylvania Congressman Jim Gerlach along with five co-sponsors.
The New Markets Tax Credit Extension Act of 2011 (S. 966) was introduced on May 11 by a bi-partisan group of Senators led by Senators Jay Rockefeller (D, WVA) and Olympia Snowe (R, ME). The bill is also supported by Sens. Bingaman (D, NM), Brown (R,MA), Kerry (D,MA), Leahy (D,VT) and Schumer (D,NY).
We are pleased to announce that DV Community Investment received its first New Markets Tax Credit allocation in the amount of $35,000,000 during the 2010 Round of NMTC program funding.
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released today its 2011 Notice of Allocation Availability (NOAA) which officially opens the 2011 round of competition for $3.5 billion in tax credits under the New Markets Tax Credit Program (NMTC Program).