The federal new markets tax credit program has been utilized by developers over the past 12 years to finance a variety of projects being built or rehabbed in certain “low-income communities” throughout the country. In 2012, Maine created its own new markets tax credit program to piggyback on the federal program and drive additional capital into high unemployment or low-income areas of the State. These programs are complex, but they are capable of bringing low-cost capital to projects that can make the difference between getting your project built or not.
Kris Eimicke from Pierce Atwood LLP and Charlie Spies from CEI Capital Management LLC will explain the basics of new markets tax credit financing, including how to determine if your project qualifies and what benefits your project can expect to receive if it does. Jim Brady recently completed a state new markets tax credit financing for his Press Hotel Project, and will join the panel to give a developer’s perspective on these tax credit programs.
Join the Maine Real Estate & Development Association (MEREDA) for breakfast on February 4 from 7:30 - 9:00 AM at the DoubleTree by Hilton, in South Portland as our panel of experts explain the basics of new markets tax credit financing and what to expect if your project qualifies.
For more information and to register, click here.
This MEREDA “Morning Menu” Breakfast Event is Sponsored by Norway Savings Bank and Pierce Atwood