“Tax Credits

Really Do Add Up”

by John

Leith-Tetrault

Enhanced Content: Slideshow

Healing Center, New Orleans, LA (2010): Before

$2.5 million federal HTC, $2.9 million federal NMTC, $2.4 million Louisiana NMTC

Developer: Pres Kabacoff Total Development Cost: $13.2 million

Healing Center, New Orleans, LA (2010): After

Now used as a community center, this project created 103 construction jobs and 112 permanent

jobs (215 total).

Developer: Pres Kabacoff Total Development Cost: $13.2 million

NSO Bell Building, Detroit, MI (2011-2012): Before

$6.32 million federal HTC, $1.35 million Michigan HTC, $17.6 million LIHTC

Developer: Neighborhood Service Organization (NSO) Total Development Cost: $37 million

NSO Bell Building, Detroit, MI (2011-2012): After

Now used as housing and support services for formerly homeless adults and as headquarters of

NSO. This project created 232 construction jobs and 299 permanent jobs (591 total).

Developer: Neighborhood Service Organization (NSO) Total Development Cost: $37 million

Wake Forest BioTech Place, Winston-Salem, NC (2012): Before

$18.6 million federal HTC, $17.7 million North Carolina State Mill Credit, federal NMTC

Developer: Wexford Science and Technology Total Development Cost: $103 million

Wake Forest BioTech Place, Winston-Salem, NC (2012): After

Now used as a biotechnology research laboratory with offices and retail ,this project created 623

construction jobs, 733 permanent (1,356 total).

Developer: Wexford Science and Technology Total Development Cost: $103 million

Mayo 420, Tulsa, OK (2009): Before

$6.6 million federal HTC, $4.1 million Oklahoma HTC, federal NMTC

Developer: Wiggin Properties, LLC Total Development Cost: $32 million

Mayo 420, Tulsa, OK (2009): After

Mayo 420 was rehabilitated for office space ,retail ,and a new YMCA facility, creating 308

construction jobs, 75 permanent (383 total).

Developer: Wiggin Properties, LLC Total Development Cost: $32 million

Cleveland Institute of Art (CIA) McCullough Center, Cleveland, OH (2010): Before

$6 million federal HTC, $4 million Ohio HTC, federal NMTC

Sponsor/Developer: Cleveland Institute of Art; The Ferchill Group Total Development Cost: $47.5 million

Cleveland Institute of Art (CIA) McCullough

Center, Cleveland, OH (2010): After

Now used as an academic facility, this project

created 369 construction jobs and 200

permanent positions (569 total).

Sponsor/Developer: Cleveland Institute of Art; The Ferchill Group

Total Development Cost: $47.5 million

Tennessee Theatre, Knoxville, TN (2005): Before

$5.6 million federal HTC, federal NMTC

Developer: Historic Tennessee Theatre Foundation Total Development Cost: $29.3 million

Tennessee Theatre, Knoxville, TN (2005): After

This former movie theatre has been rehabilitated into a performing arts center creating 285

construction jobs and 16 permanent jobs (301 total).

Developer: Historic Tennessee Theatre Foundation Total Development Cost: $29.3 million

Developer: REA Partners Total Development Cost: $10.3 million

REA Building, Sacramento, CA (2005): Before

$1.6 million federal HTC

REA Building, Sacramento, CA (2005): After

REA Building is a former post office and mail sorting facility now used for retail and office space. This

project created 57 construction jobs, 87 permanent (144 total).

Developer: REA Partners Total Development Cost: $10.3 million

Old Salem Jail, Salem, MA (2009): Before

$2.3 million federal HTC, $1.6 million Massachusetts HTC

Developer: New Boston Ventures, LLC Total Development Cost: $11.5 million

Old Salem Jail, Salem, MA (2009): After

Now a residential facility with restaurant and museum exhibit space, the Old Salem Jail project

created 64 construction jobs and 75 permanent positions (139 total).

Developer: New Boston Ventures, LLC Total Development Cost: $11.5 million

Dia: Beacon, Beacon, NY (2003): Before

$5.2 million federal HTC, federal NMTC

Developer: Dia Center for the Arts Total Development Cost: $33.7 million

Dia: Beacon, Beacon, NY (2003): After

This former factory has been rehabilitated into an art museum creating 15 construction and 44

permanent jobs (59 total).

Developer: Dia Center for the Arts Total Development Cost: $33.7 million

CASA de Maryland, Langley Park, MD (2009): Before

$1 million federal HTC, $1.2 million Maryland HTC, federal NMTC

Developer: CASA de Maryland Total Development Cost: $13.7 million

CASA de Maryland, Langley Park, MD (2009): After

Now used as a multicultural center for CASA de Maryland, this project created 90 construction jobs

and 121 permanent positions (211 total).

Developer: CASA de Maryland Total Development Cost: $13.7 million

Developer: Humanim, Inc. Total Development Cost: $24 million

American Brewery, Baltimore, MD (2008): Before

$3.9 million federal HTC, federal NMTC

American Brewery, Baltimore, MD (2008): After

The American Brewery Building is now office and program space for a nonprofit social and human

services provider, creating 157 new construction jobs and 175 permanent jobs (332 total).

Developer: Humanim, Inc. Total Development Cost: $24 million

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