Financial Success for Your Project
So many potential historic preservation projects never get done because they are perceived as too difficult or too complex to finance. Other than a handful of projects in exceptionally vibrant and strong urban markets, historic rehabilitation and adaptive reuse projects are typically more financially complex. However, the fact that they are more complex does not mean that they cannot be done.
When a person faces a challenging medical condition, they seek out a specialist; a doctor with the specialized training and experience to address that particular condition. When it comes to putting together the multiple layers and different sources of financing for your historic rehabilitation or adaptive reuse project, Port City Preservation is that specialist.
We have extensive experience with Federal and state rehabilitation tax credit, low income housing tax credit and the New Markets tax credit programs. Our thorough understanding of the complex rules of these programs allows us to maximize the benefits of each of the programs. Having served as an investor, we fully understand the demands and requirements of the tax credit equity investment community and underwriters. Further, we understand how these various programs can be blended together.
While tax credits can serve as a critical source of financing for many projects, they only serve as one piece of the financial puzzle. Grants, capital campaigns as well as a host of other programs – tax-exempt bonds, below market rate loans through HUD, USDA Rural Development, and HOME, and CDBG funding are just a few examples of some of the important financing tools for your potential project. Port City Preservation can help you on the journey of financial success for your project.