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Tax Credit Marketplace Attends and Presents at 1ST ULI Capital Markets Conference

Press Release..  October 3, 2104

Tax Credit Marketplace Attends Annual ULI Capital Markets Conference

 

TCM attended the annual SC Urban Land Institute Capital Markets Conference at Kiawah Island SC September 29-30. Two days of panels, networking, and breakout sessions to include all topics commercial real estate related. John Boyd founding member of Tax Credit Marketplace set on the panel for development tools, a breakout session on How Tax Credits Become Capital.  John laid out the process for allocating and monetizing the S.C. Revitalization Tax Credits which are available to certain types of commercial properties by the state, the different types of credits and the importance of filing a Notice of Intent to Rehabilitate for the Abandoned Buildings Credit and the Textile Credit which tell the SC Department of Revenue the developer is intending to use the credits for the site.

The panel was moderated by Chris Hemens, Director of Retail, Charlotte City Partners. Along with John the panelists included Mark Cooter, Partner at Cherry Bekaert LLP discussing the accounting aspects of using tax credit for a development deal and how they can be allocated through a tax partnership. Richard Few, Partner, Smith Moore Leatherwood LLP handled the legal aspects of using and applying tax credits to South Carolina development deals. Stuart Nofsinger, Partner for Dixon Hughes LLP, also talked about the potential tax credit towards lowering property tax as another alternative when applying for state tax credits. Judging on the capacity of the room, there was a lot of interest on the topic and with all of the projects in the state being renovated in the state there seems to be will continue to be a need for communication on how to efficiently use the credits in the market place to bring capital back to the different development projects.